Debbie's World of Books
My book reviews, book news & random rants

Bailout for big 3 auto companies

November 20th, 2008 by Debbie's World of Books

You know, i was watcing part of I guess the hearings where the auto companies were asking for bailouts from the government.  I really hope they don’t get the bailout.  I understand jobs are going to be lost but if the government gives them money how do we know they aren’t going to just waste it and not make any improvements that would help them compete against other automakers.  Seems like more and more un-capitalistic.  They aren’t trying to be competitive.  They just want a handout.

The thing that struck my cynical/funny bone was at the hearings I guess one CEO said he would take a salary of $1 for a year and another said he would take half his salary.  One said he can’t answer now and a fourth said I’m happy where I’m at.  In other words no he wouldn’t give up his salary which they said was something along the lines of $9.5 million/year.  Geez, would it hurt him to not take a salary for a year if that’s what he’s been making in the past not to mention I’m betting they were getting bonuses as well.  If they aren’t willing to help out their own company which floundered under their watch then why should the rest of the nation have to bail them out?

Posted in Random rants

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