- 465
- 10
- Joined
- Oct 14, 2002
Originally Posted by 718stylez
^^^i agree
we need to bail them out...i just hope that they get their act together
so what if we bail them out and they dont get their act together....................
then what?
an unfortunate thing has happened with globalization, that being counterparty risk. If it was just the car companies than i'd be all for it,but its not. removing large multinational manufacturig firms from the global market can have profound results. i think we're really witnessing an era of'too big to fail".
There's so many suppliers (which also supply Japanese autos) that rely on the big 3, along with banks that hold GM/Ford etc's subordinate debt thatletting them go will surely plunge the US and perhaps the world into a full on depression.
i dont believe giving them a blank check is in order.
1. i'd get wages under control to be competitive
2. fire almost all management
3. insist that they trim subordinate product lines like buick, lincoln etc
4. negotiate with foreign manufacturers to build in detriot
5. stimulate demand for domestic cars w/ favorable tax code
i think that long term its best to trim thier importance on the region by courting other industries. i dont believe that any industry should be thatinfluencial to the vitality of a city (new york im looking at you)