Thursday, November 20, 2008

"Let them eat cake." (Marie Antoinette, of the breadless peasants)


This post is not so much satire as it is astonishment and disbelief.

1. The "big three" American automakers, GM, Ford, and Chrysler, are in deep trouble. Have been for years, for many reasons.

2. Seeing the Wall Street bailout, they are trying to jump on the bandwagon and are asking congress for $25 billion. Just because. Loss of jobs, and ancillary domino effect, you know.

3. They came to Washington yesterday (Tuesday) to testify before Congress on why they should get this money. All three CEOs were there, sitting side by side. Amazing. They each told Congress why they should get this bailout. Some of their points were valid. I assume they promised to be good stewards of this amazing amount of money if they get it. And they say they MUST get it.

So.... what is the astonishing and unbelievable part of this post? Other than the fact that they have been pissing away money like Niagara Falls for 50 years and mismanaging their businesses like a drunken sailor? Well...

1. They came to Congress crying "poor, poor", but they came in private jets. Individual private jets which are only one of several owned by their companies for their (and their families') convenience. They couldn't fly commercial, not even first class. And, God forbid, they couldn't drive one of the cars they make. 

All of these companies have been losing lots of dollars. Billions and billions of dollars. In return for this feat of losing money, each of these CEOs receives compensation of many millions of dollars each. Like in the neighborhood of $20 million a year. Just as a "thank you" for being such a bad manager.

4. We could BUY GM -  the whole company - lock stock and barrel - five times over for the same money we would be "lending" the "big three."  - $25 billion. Or so I've read. But who in their right mind would want to buy a company that is constantly on the verge of bankruptcy, and hasn't seen a profit in most of the current generation's lifetime?

Your Congress is at work. Be very afraid. Let's hope even these dead-brains won't loan these guys taxpayer money. Spend it on job retraining instead, please.

3 comments:

ettarose said...

Max, I was absolutely amazed that these fucking assholes are so desensitized to the whole country being in trouble. They should not get a loan, even if that means those Union loving workers are out of work. They are pulling in upwards of $70 an hour including benefits.

Empress Bee (of the High Sea) said...

oh, i saw the title and was hoping for cake! ha ha ha

and i agree, theses assholes have to go. run them into chapter seven, let them out of those union contracts, see if they can survive then.

and what do they mean no pensions? did they raid that too? then jail for them!

oh, did i say that? sorry. i have a cruise ship to go get on now. i am supporting the economy the best way i know how. well at least i am trying to spend it before that great one takes it away!!! bye...

smiles, bee
xoxoxoxoxxoxoxoxo

Sandee (Comedy +) said...

I love the private jets part. Yeah, they need a bail-out don't they.

The unions have them in the mess they are in. I'm telling you the unions are to blame for most of this mess.

Have a great day and weekend. :)