The American auto industry bailout

I love America and the businesses that have made it great. Our big three automakers have fallen on hard times lately and have asked for government bailout money just like the banking industry has. Except for Ford. I have always been a Ford guy and am even more so now since they have refused to take the governement money. The raised the capital they needed to cover their shortfall the old fashioned way. They sold off assets. They sold their share of Jaguar to a company from India. They sold their stake in Mazda for $540 million. Go Ford!!
GM could do the same thing if they wanted to. They could sell off their share of Saturn, Saab, Hummer, or even their overseas holdings like Holden or Vauxhall. But, instead they have chosen to hold their hands out and beg us, the taxpayers and their potential customers to bail them out. They should be ashamed of themselves. Even Chrysler is in talks with Nissan about unloading Jeep.

Are the suits at GM that greedy, or are they just simply not smart enough to see the solution staring them squarely in the face? Obviously the guys at Ford get it. My only gripe with Ford currently is with how the have uglified the 2009 F-150. That is one ugly truck.

I would hate to see any of the car makers fail and go out of business. That being said, it is not our responsibility to bail them out. They got themselves into this mess by caving in to unions and paying inflated wages when the Japanese car guys were making better cars and paying their employees far less. The American car makers were then forced to price themselves out of competition.

Other factors that was beyond their control were the rise in gas prices and the trumped up fears about global warming. They spent billions developing hybrid technologies only to have gas go back down to a reasonable price and many car buyers go back to their big SUV's and rejecting the hybrid fad.

In conclusion, I just want to say hats off to Ford for solving your own financial problems and not coming to me and other taxpayers asking for a handout. As far General Motors, well, you should be ashamed of yourselves. And Chrysler, well, I hope you guys survive. I also hope you start making better cars. For your own sake.

Jim Chitty
Writer/Columnist/Blogger