Ach, the business model the American auto industry is using is what, 50+ years old? Might as well be a hundred. There is a saying that goes “don’t beat a dead horse” and I’d like to add something else, don’t feed it either. A bailout for a failed business plan is no different than feeding a dead horse, money won’t resurrect it…
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So true! I have actually been wanting to write about this. If a business screwed up and can’t turn a profit. Too bad, let em die! I know its harsh, but why should we as tax payers bear a burden of a failed/failing business? The airlines are another thing. Sure we need air travel, but its obvious that you can be a airline and be profitable. Look at Southwest! If these companies know that the gov won’t bail them out maybe they’ll make smarter choices.
Well put B. The question now becomes if we save the automakers, who’s next? How about Circuit City who filed for bankruptcy protection two weeks ago? Or how about a company like Sprint who’s stock has dipped below $2.00/share and who’s customers are leaving in droves?
The question ultimately becomes what fundamental issue are we trying to fix? Is it truly a simple cash flow problem? Or do the issues push much deeper than that? A bandaid isn’t going to help a gunshot wound…