Chrysler......

I heard that Chrysler was whining the other day. Something about how they're going to have to file bankrupcy if things keep going the way they are. Chrysler, who has already recieved 4 BILLION government dollars, says that there are three things that need to happen for them to avoid bankrupcy:

1. They'll need MORE government money.
2. They need to close a deal with Fiat.
3. They will need to have some of their debts forgiven.

#1: More government money:

ABC News reports that the Obama administration has told Chrysler that if they close the deal with Fiat by month's end, they will provide the company with another $6 Billion. Along with up to $500 million in 'working capital' while they restructure.

My thoughts: why would the government continue to throw good money after bad?? If Chrysler is a sinking ship, so be it. Companies fail every day, you can't bail out everybody. If you're going to spend the bailout money anyways, use it as severence pay to all those losing their jobs when Chrysler goes under. I'll bet that a quarter to a half million dollars each would keep food on the table until they found other jobs.

#2: The Fiat Deal:

Why in the world would Fiat want to form an alliance with a failing US Automaker?? Well, why not, if the US govenment is going to keep throwing money at them!

My thoughts: Fiat!! Run!! Save yourselves!! There has got to be a better way for you to help your business than by jumping ONTO a sinking ship. Who makes your business decisions, anyways?! If joining forces with a bankrupt company is his idea of a good business deal......well, let's just say that you may have personnel issues!

#3: Debt Forgiveness:

Daimler has already agreed to forgive repayment of a $1.5 Billion loan and make 3 annual $200 million payments into Chrysler's pension plans beginning this year.

My thoughts: Until these companies start forgiving the debts of Joe Car Owner, they have no grounds for even asking for debt forgiveness!! I say that everybody whose auto loan is held by Chrysler gets their debt forgiven before the government gives them another dime!! Let Chrysler lead by example, then we'll talk.

Conclusion:

If Chrysler made a product that the American people actually wanted, they wouldn't be in this position. Why would we bail them out so they can continue to make a crappy product and provide crappy customer service? If the ship is sinking, then it's sinking for a reason. Play the funeral dirge and let it go. Maybe if we actually let one of the big automakers die, the others will notice and try harder to meet the real needs of the consumers: quality product, good customer service, affordable transportation. (Maybe they should ask Honda and Toyota how it's done!)