Thoughts, essays, and writings on Liberty. Written by the heirs of Patrick Henry.

“No state has an inherent right to survive through conscript troops and, in the long run, no state ever has. Roman matrons used to say to their sons: "Come back with your shield, or on it." Later on, this custom declined. So did Rome.”     Robert A. Heinlein,    The Notebooks of Lazarus Long

December 3, 2008

Big Three CEO’s Molt Before Congress — Reveal Same Snakes Inside

by Brad Warbiany

Just look at all the sacrifices they’ll make!

Humbled and fighting for survival, the country’s once-mighty automakers went to Congress with new promises to change their ways in return for a bailout as large as $34 billion.

They said they would sell the corporate jets. The CEOs will work for $1 a year (Chrysler boss Bob Nardelli already does). They would cancel executive bonuses and freeze raises. And, the heads of Ford, General Motors and Chrysler pledged to remake their companies by slashing their workforces, making smaller cars and fewer trucks, reducing the number of dealerships and improving fuel efficiency.

Congress will hold hearings Thursday and Friday, and the CEOs of Ford, GM and Chrysler will make the 525-mile road trip from Detroit — in hybrid cars.

Uh oh… Their wives are going to have to start making mimosas with Korbel instead of Dom Perignon, and they might even be going for their steaks at Outback instead of Ruth’s Chris! The horror!

What is this, they take one measly road trip and we’re supposed to believe they’re contrite? That’s the least they should do for $30B+ of taxpayer money. You offer me just a billion, and I’ll walk from Detroit to Washington!

Now, I don’t begrudge any CEO for their wealth. And normally I’d criticize any CEO for such a silly publicity stunt when their time would be far better spent at productive endeavors. But that’s the thing… These guys aren’t producing, they’re losing money hand over fist. I don’t begrudge their wealth, but I begrudge the fact that they’ve put themselves in a position, by following policies any intelligent person could see would lead here, and now they have the audacity to appear contrite and beg at the public trough.

All the while telling us that letting them fail will result in a Depression. Am I the only person who think it might be time to call their bluff? Bankruptcy might be bad, but let’s give it a try.


Permalink || Comments Off || Categories: Credit Crisis,Economics,Government Waste,Politics
TrackBack URI: http://www.thelibertypapers.org/2008/12/03/big-three-ceos-molt-before-congress-reveal-same-snakes-inside/trackback/
Read more posts from
• • •

No Comments

No comments yet.

Comments RSS

Subscribe without commenting

Sorry, the comment form is closed at this time.

Powered by: WordPress • Template by: Eric • Banner #1, #3, #4 by Stephen Macklin • Banner #2 by Mark RaynerXML