Wednesday, November 19, 2008

Sign of the Times

Not my typical post...but last night my sister and I spent some time talking about the possible bailout of GM. It's a complicated issue and I don't think anyone really knows if giving the car industry money right now will really prevent them from failing, or prevent the devastation of massive joblessness.

Well, check the piece "A Sea of Unwanted Imports" in today's NY Times. Frankly, if no one's buying cars, giving GM an unlimited supply of money, let alone some tens of billions, isn't going to get them selling more cars. It's like putting the proverbial finger in the dyke hole. It really looks like we're entering a new era, people. We've stopped shopping and, won't recognize the future we're about to enter. I fear the human despair. But hopefully we will adjust to the seismic shift of having and needing less quickly, and the change will be in time (and enough) to prevent the collapse of our planet.

1 comment:

Tamsen Ellen said...

A friend sent me the following article from the Huffington Post....awesome...gotta love American cars.

"I guess I've rented American cars..."

Last night on Charlie Rose, the talking boobs (i mean heads) were having a heated debate. The guy from the NT Times was arguing for Chapter 11. The Auto Industry Rep was arguing the biggest doom and gloom if we don't give em money. But then he admitted that 25 billion wasn't really enough. And he didn't know what number would be enough. The NY Times guy was explaining that US car manufacturers BY LAW can't afford to stop producing a particular brand IF THEY WANTED TO. There are state laws that make it prohibitively expensive to close dealerships...over a million dollars a dealership. So, if they went into Chapter 11 they could re-organize for less. Hey, if it worked for uh United Airlines, Delta, Northwest, and can work for the auto industry. The airlines got to shirk their debts, screw the labor unions, as well as their their employees, reorganize, and come out of Chapter 11....making lawyers rich in the process. yup, it's a lose/lose situation.