As much as I like to gripe about em', I have to give em' some credit on this automaker ordeal.
The big three would have loved to walk away two weeks ago with a $25 billion dollar check and no or very few strings attached.
But they made them come back with a plan and if we hold them to it some of it sounds pretty impressive.
In particular Ford, which says they think they can break even and want only a stand-by line of credit of $9 billion which they don't think they'll touch (I know what you're all thinking).
But the CEO put his money where his mouth is and says if they wind up using any Federal money he'll accept $1 as his compensation for the year in 2009.
All three are promissing major cuts in executive pay and perks, along with other things.
It might all just be smoke and mirrors, more lies and so on and so on. But I think congress was smart to make them think it through and offer some plans as opposed to just cutting a check.
That would have been kinda nice. All that busting on the auto execs while the bankers got their posh vacations to celebrate getting their bailout funds.
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MM
That which does not kill me postpones the inevitable.
Knock, knock! Who's there? Congress. Congress who? Just gimme my @#$&ing $350Billion back until you can prove how you will use it responsibly. Uhh... I don't get it. Oh riiiiiight... how funny!
Tragically, that would be how that would go.
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MM
That which does not kill me postpones the inevitable.
Well, I saw one congressman on the news addressing that issue.
He admitted they moved to fast on the financial bailout and he says they feel they learned from it. Pretty expensive learning experience, but I was pleased he admitted to it.
Well, I saw one congressman on the news addressing that issue.
He admitted they moved to fast on the financial bailout and he says they feel they learned from it. Pretty expensive learning experience, but I was pleased he admitted to it.
Betcha I could learn a whole lot from it.
