The Big 3 auto makers have come a-beggin’ in Washington, D.C.
They want $25 billion to tide them over until, well, until things turn around.
And if they don’t get it, they warn of dire consequences.
Without a quick infusion of cash, they predict a deeper economic catastrophe and millions of layoffs as the nightmare of layoffs ripple through our teetering economy.
And that’s not all. In addition:
1) Their retirement bonuses could be slashed to just five figures.
2) Shareholders would ask annoying questions like, “Why did you run this company into the ground?”
3) The home office might stop paying their annual dues at the country club and yacht club — where they conduct important business by mingling with important people.
and worst of all ...
4) People might just buy cars from other companies and forget they even existed.
… Scary stuff, isn’t it. Kinda makes you want to hold a telethon for them, or something.
Tuesday, November 18, 2008
Big 3 beg
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2 comments:
I'm not optimistic, based on the history of governments giving taxpayers' money to auto executives and their union pals. Think of all the U.K. car companies that did well until the 1950s when they failed to develop technologically under a high-tax, top-heavy socialist government. The British government kept injecting cash and refereeing mergers, all for nothing in the end.
Don't foerget the company jets they used to travel to congress and beg for billions more. The American car companies ignored the modernisation of better built asian cars and kept on buuilding gas hogs the size of the Titanic. They have been top heavy with millionare execs and ignored the country's calls for safer, more fuel efficient cars and now they are whining. Suck it up. They want the tax money now, but managed to get a pass on ever paying into the kitty.
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