Big 3, no bailout for you!
I’ve little sympathy for the big 3, less for the unions. The failure of the bail out seems to reinforce my grim outlook for both bodies. I know it will suck for the economy, and suck for most of us in some way or another, but really, they made their beds. Did the government step in for Home Grocer? Or any other start ups that flopped? Did they step in when Apple stock was 8 bucks and less a share?
Sure we let the auto makers get as big as they are, big mistake, hopefully we learn from it, but protecting and bailing out bad business practice, not a wise decision.
If my reading of the news is correct, the UAW wasn’t willing to make concessions as part of the bailout package. I mean, why do their part to help their employers? Why should the union bosses let their people take pay cuts, which lowers dues, which lowers union boss pay? Why can’t the American people just give more? Why should the screw turners take a pay cut, or lose the cushy retirement they’ve earned that few other employees anywhere, even get?
Don’t get me wrong, the UAW isn’t the only one at fault, apparently someone (I talk more about this below) thought the bailout package should include a pay raise for federal judges, cuz you know, they need a raise, and this was a best way to get it.
From the Forbes article:
McCaskill said judges’ pay raise, inserted by Reid, “sends the wrong message to the United States of America at this scary moment.”
Well duh. Yeah it sends the wrong message, it sends a message that in troubling economic times, our politicians are still interested in injecting whack crap like this into emergency bail outs. What do judges have to do with it? Nothing as far as I can tell, certainly it’s not the place, let alone time for that kind of junk!
I think it’s funny that these talks take place in private. After all it’s my money, shouldn’t I know what deals are being brokered? Shouldn’t those doing the dealing be held accountable? Wouldn’t the process go smoother if all parties knew we were watching that they had best act in good faith, lest we see how scummy they are? Is it just me that thinks that?
The House-passed bill would create a Bush-appointed overseer to dole out the money. At the same time, carmakers would be compelled to return the aid if the “car czar” decided the carmakers hadn’t done enough to restructure by spring.
Really? do we need more Czars? an IP czar, a car czar. Yeah that’s a solution. Appoint a fall guy, that way we have some one to draw and quarter when things go south!
Pushing to convert skeptics in both parties, Democrats agreed to drop at least one unrelated provision that threatened to sink the measure, a congressional official said. They were eliminating a pay raise for federal judges after of Missouri, who represents an automobile manufacturing state, announced she would oppose the carmaker aid unless that provision was removed.
Good for Sen. McCaskill! I’m ashamed it was my own party that put such a turd on this package. I may be opposed to the bail out, but really? Adding crap like this is just embarrassing.
The auto industry and their union cronies had no problem during the big years, maybe we see how they handle the lean ones. As far as I’m concerned, if I (as a taxpayer) bail out the big 3, I want ownership. I want shares, I want them to answer to me (us, the people giving them money for being lame businessmen, and greedy union mongers) in exchange for my money!
Fat chance, I know, but a guy can dream