Thursday, November 20, 2008

A Thought On the Auto Industry

Some quick words of wisdom for Washington: Nobody in the real world likes the bailout. The left doesn't like it. The middle doesn't like it. The right doesn't like it. The reason: it is just plain stupid.

People who gave out loans that they knew couldn't be repaid should not be given a blank check (or any check for that matter) from the American tax payers. The government is giving loans that can't be repaid to businesses that are in trouble because they gave loans that couldn't be repaid (seems rather redundant).

Now the three major U.S. Auto Industries are asking for a loan. They asked for this money after traveling in three separate private jets to Washington, each costing $20,000 for a round trip. We cannot give money to people this greedy. Because of AIG, we know where that money is going to go: golden fountains, sports cars, and luxurious vacations for the CEOs.

If Washington does give the automakers the money they're asking for I would at least like to see a few guidelines for how that money is spent:
1) 50% of the cars they make must be hybrids by 2012, with an additional 25% all-electric.
2) The rest have to have a mileage 25 mpg or better (No more Hummers!)
3) CEOs get paid 100 grand a year (with no benefits).
4) Employees get health care, and a retirement program (no exceptions, ever).
5) CEOs must formally apologize to their employees and beg for their forgiveness.

The fifth rule doesn't have a practical purpose, I just want to see it happen.

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