I bet on the wrong horse, can the government help me out?
This nonsense with the big three and the banks, really has me thinking our government is made up of suckers. I’m thinking of writing a letter, or maybe flying (southwest) to Washington to beg in person. I mean, I went to the track, I pick the horse I thought would win, even though he had three legs and wasn’t expected to survive the race. He died, and so did the Jockey even. I lost my shirt, my wife is mad, and I’m not sure I can pay for my new Audi RS6.
I’m thinking the government can help me out, I mean, I don’t need 25bil, so a few thousand should be easy, right?
Mitt Romney has an op-ed piece in the NYT, and man, that guy gets it.
But don’t ask Washington to give shareholders and bondholders a free pass — they bet on management and they lost.
Emphasis mine. They bet, they lost. That’s it, that’s how markets work.
To top it off, the three paupers, came to washington in private jets. Not in the same private jet, but three different private jets. Thankfully the Committee called them out on it.
“There is a delicious irony in seeing private luxury jets flying into Washington, D.C., and people coming off of them with tin cups in their hand, saying that they’re going to be trimming down and streamlining their businesses,” Rep. Gary Ackerman, D-New York, told the chief executive officers of Ford, Chrysler and General Motors at a hearing of the House Financial Services Committee.
“It’s almost like seeing a guy show up at the soup kitchen in high hat and tuxedo. It kind of makes you a little bit suspicious.”
He added, “couldn’t you all have downgraded to first class or jet-pooled or something to get here? It would have at least sent a message that you do get it.”
Clearly, they don’t get it. They haven’t gotten it for a long time. Executive dining rooms, private jets, etc. I mean really? Is the corporate tower a castle or a place of business? The entire auto industry is so out of touch with business in the 20th, let alone the 21st century, that simply propping them and their “Standard policy” up is not going to do anyone any good. Not them, and more importantly, not us. This out of touch-ness is exemplified by Tom Wilkinson,
“Making a big to-do about this when issues vital to the jobs of millions of Americans are being discussed in Washington is diverting attention away from a critical debate that will determine the future health of the auto industry and the American economy,” GM spokesman Tom Wilkinson said in a statement.”
Uh, vital jobs like the CEO’s? Like his? Sure a great many auto workers will likely be out of work, I feel for them, but like everyone else, they bet on management, and lost. They also bet on their union, and it failed them. It fought with management so that a guy who turns a wrench makes $50/hour, maybe the union shoulda been making that guy learn to program computers? Or learn to maintain robots? Rather than simply raising his dues, fighting for more pay, to raise his dues some more.
What’s truly sad and amazing to me, is that not just management and the unions are out of touch, the mouthpieces (like Tom) and the PR tards are too. I mean out of hundreds if not thousands of PR turds between the three paupers, did not a single one stop to say, “Hey listen everyone, we’re sending our three leaders to Washington to beg for money. They’re going to say the jobs and the very US itself depend on us continuing to exist. We should show them that we get it. We should have all three CEOs, drive (in American cars) to Washington. They should make a tour of it, showing that they’re willing to do what it takes to make the companies work in the 21st century. I know they’re going to say they’ll make a buck in salary, but since they should have done that a year ago, to try to keep us out of this mess, it’ll really impress the American people and the politicians, that they (the CEOs) understand the situation, and aren’t simply looking to have their corrupt antiquated system propped up on the taxpayers backs.”
No one thought that? None one?