Friday, November 14, 2008
As we wait on Reid/Pelosi and their cohorts (with much pressure from the President-Elect) for the details of the proposed bailout of the big 3 automakers, let us remember that this is not really a bailout for the automakers, rather a bailout for UAW and it's big labor pension fund. If there is no bailout, the US automakers will be forced into bankruptcy re-organization. This does NOT put them out of business, rather it allows them to re-organize their debt and come out lean and mean. The MSM and liberals on the Hill would have you believe that this would cause a monumental loss for this country at a time when we can ill afford such a loss. I put to you that it would be a good thing. First of all, maybe the big 3 can finally get out of the clutches of the UAW. IF they get a bailout, there is a $7B payout that will go to the union pension fund. No bailout means no payment to the fund. When airlines and other businesses hit the wall, they file BK and re-organize from the top, down. This always makes for a better company on the other side. IF the big 3 get another $25B, we are sending a message that taxpayers will help you, big business, as long as there are a LOT of union members who can vote for us in four years! Allow this to take on it's own shape, without government intervention. Let the US automakers take a page from the S. Korean and Japanese makers who have set up shop in the US. Move the plants to the middle of the country, or to the southeast, where the labor unions don't have a stranglehold and rent is cheaper. Get lean, make efficient vehicles that we all can afford and you'll be just fine. Cowtow to the liberals in government and your businesses will all die. Oh, by the way, when you file BK, all of the top execs go too!