So the auto industry has their hand out for Uncle Sam , asking for some of the federal bailout. More specifically they would like 25 billion dollars to divvy up among themselves. General motors would get more than Ford and Chrysler.
  Now at first glance I was like , yeah we need to do this because so many people would lose their jobs. Then I thought about it more and I have to agree with the senators that have taken a firm stand against providing aid. These guys have run their businesses unprofitably for years. They have not kept up with trends, better fuel mileage and improved factory efficiencies through technology. They have also lacked in the style department when compared to their foreign peers.
  They became so complacent in the continued raping of their companies money that they may soon be without a company to run. So I agree that we should let them go out of business. It happened to the airline industry, why not automobiles. I am tired of my tax dollars being used to buy mansions for CEO’s that are already overpaid.
   I was watching part of the senate meeting and at one point the panel asked what the CEO’s made last year. Now the american auto industry has been faltering for years. And even as recent as last year Rick Wagnor, the head of GM made $9 million. And I am sure that does not include stock options. When asked what kind of pay cut he was willing to take, he answered, “half”. Half! Chryslers CEO cut his salary to a $1.00. A respectable thing considering the number of people getting fired. But Rick, how about 1 million or $500,000? Are you telling me you are going to go without food or shelter unless you make 4.5 million. And forget Ford’s CEO, he said that he made 7 million and there is nothing wrong with that number and he has no intention of lowering the amount.
  So I apologize to the auto workers as I feel for you as much as the next guy, but if something happens to my company no one is bailing them out. No government hand out or aid is in place to insure my job. This is why you are suppose to have emergency funds and frankly the fact there are job cuts should not come as a surprise.
    I am thankful to continue to have a job and I wish everyone the best, but I refuse to give away any more of my money through taxes to bail people out. No one is helping me keep a roof over my head or a job to pay the bills. This continues to be a major problem with this country and maybe through these hard time things will change. Too many people expect someone else to help them, to pay for their bad judgement, but they need to take responsibility for themselves. Maybe when we do that things will turn around.
-Matt
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2 responses so far ↓
Well said… Great information, keep up the great work!
Nice writing. You are on my RSS reader now so I can read more from you down the road.
Allen Taylor