Wednesday, February 18, 2009

I knew it was a mistake ...

To go down the road of giving the automakers money:

DETROIT (Reuters) - General Motors Corp said on Tuesday it could need a total of up to $30 billion in U.S. government aid -- more than doubling its original aid -- and would run out of cash as soon as March without new federal funding.

The request for additional aid from the top U.S. automaker came in a restructuring plan GM submitted to U.S. officials on Tuesday.


That's just GM. How much is Chrysler gonna ask for? This is what I wrote last October:


Didn't we just hand the U.S. majors $25 bln last month [August 2008 - F.] so they "could modernize in order to be competitive"? Fuck them. Sorry you decent, hard working folks who work for GM, I feel for you, but enough is enough. GM and the other major U.S. auto houses have made one bad business decision after another since 1978 and I'm tired of bailing them out.


And what will Ford want down the line?

I'm sorry, but if they want more, the CEOs and boards of directors should resign. I don't give a fuck who runs 'em but the current crop of idiots have to go. A case can be made for bailing out the banks, but I draw the line at pouring money into a car company that builds crap (and has been for a long time) and whose management is so myopic that the Future comes up and bites them in the ass on a regular basis. It just ain't worth it.

Fuck them.

Great thanks to Oliver Willis for the link.

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