Detroit burns while the Senate fiddles!

Okay, I admit, Detroit is not literally burning, but if the U.S. Senate doesn’t approve the bridge loan to the Big 3, it might as well be.

It really pains me that it is the Republicans, and mostly the southern  Republican Senators, whose states have given millions in dollars of tax breaks to Toyota, Honda, Nissan, and others who are holding up a measly 14 billion dollar loan. (You notice I italicize and bold loan because that’s what it is, not a bailout!)

They say the Big 3 are “destined” to fail.  How do they know that?  Have they had accountants check the books?  Have they talked to a diverse cross-section of the automotive analysts?  Have they even looked at quality ratings and mileage ratings of vehicles being turned out by the Big 3?  The answer is a resounding NO!

This belief that the Big 3 are destined to fail because they have been sticking their heads in the sand and not restructuring to this point is also prevalent in the media.  Wednesday, I happened to be watching Fox News Channel with an anchorette was interviewing Michigan Congressman Thaddeus McCotter.  She flat out said the Big 3 were failed enterprises and they brought the current situation on themselves by not “changing.”  McCotter tried to correct her that the crisis they are in now was made critical because of the failed financial market.  She kept shaking her head and saying “No, no, that’s not the problem.”  McCotter did make his point, but there’s another example of someone that doesn’t do any research on the subject and suddenly knows it all.

I somewhat understand the Republican’s attitude about not wanting to “bailout” (their words, not mine) another U.S. industry.  However, because they screwed up the real bailout, the one of the financial markets to a degree unheard of in American history, is no reason to kill a truly American industry.  This is literally closing the barn door after the horses are out.

What also (and I’m going to say it the way I feel it) pisses me off, is that they keep saying the U.S. companies should be like Toyota, Honda, Nissan, and others in wages and benefits.  Uh, we now sing the praises of companies that are subsidized by their governments back home? If I wasn’t on blood pressure medicine I’d pop an artery!

Get over the fact that you made a mistake in the $750 billion dollar financial bailout that Congress approved without even understanding what they voted yes on, and save the American home grown auto industry!  If you can’t give a loan of just 2 percent of the total you lavished on AIG and others to help save millions of American jobs, then there is indeed no hope for the U.S. anymore.

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~ by detroitvoice on December 12, 2008.

One Response to “Detroit burns while the Senate fiddles!”

  1. I just want to say AMEN!! You are totally correct!! I have friends in other states that just don’t get it. I guess they seem to believe that they had done bad business this long, the UAW is outdated, they have paid too much for labor for too many years that they should just close up shop.

    Already too many things are produced in China as it is. I mean can you buy anything that says, “Made in America” anymore. Wasn’t that the slogan of the 80s? I seem to remember that growing up.

    I live in a city (Warren) that has 2 plants one Chrysler and one GM, then I also have the GM Tech Center too! What would all the small business do if they close their doors? GM also helped to bail out the American Axle with millions but I am NOT sure anyone has mentioned that one. They were all on strike for about six months and they wound up lowering their wages to $14.00 with out benefits.

    People need to look at this business model. They should see in plain site that they are going to cause a ton of problems.

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