Sunday, November 23, 2008

Backlash against Automakers

Much to my surprise, it looks like the imbeciles running congress (and Obama and Bush) have realized that giving the Big Three $25B is the financial equivalent of flushing it down the toilet. Please understand, I do hate unions (indeed my wife is a member of one). Nevertheless, a bailout will require the following:

  1. Bankruptcy – this will allow the big three to cancel their union contracts and rehire workers without legacy costs (Retiree Healthcare).
  2. Restructure their plans to a word dominated by cars – not SUV's.

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