When the little boy’s grandmother called to see if the young lad was improving, the blunt nurse said, “There’s been no change yet.” “We’ll let you know.”
Archive for December 5th, 2008
After two bumpy meetings with Congress, the Big 3 Detroit representatives couldn’t convince the U.S. Government that they have a solid case for soliciting several billion dollars to keep themselves afloat.
Desperate U.S. automakers ran into fresh obstacles from skeptical lawmakers Thursday as they appealed with rising urgency—and a new dose of humility — for a $34 billion bailout. Without help, said one senator, “we’re looking at a death sentence.”
It’s interesting to point out that this time the representatives of the Big 3 drove to Washington instead of using their lavish multi-million dollar corporate jets as they did last week. That was a case of poor judgement. Coming to Congress in luxury planes with their caps extended requesting bailout funds. How stupid can these guys be?
President George W. Bush said in an interview with NBC News, “No matter how important the autos are to our economy we don’t want to put good money after bad. In other words, we want to make sure that the plan they develop is one that ensures their long-term viability for the sake of the taxpayer.”
The Big Three CEOs told the senators they hoped to make amends for past blunders. “We made mistakes, which we’re learning from,” GM chief Rick Wagoner said. Ford CEO Alan Mulally also acknowledged big mistakes, saying his company’s approach once was “If you build it, they will come.”
“We produced more vehicles than our customers wanted, then slashed prices,” he said. But as a result of these past mistakes, “we are really focused,” he said.
These auto industry CEOs are hired to manage large and complex corporations and are paid generous amounts to do so, but after listening to their arguments at the Hill, they are less smart than my next door neighbor kids selling home-made lemonade on the street. Good Day.
Source: Carmakers’ bailout pleas hit Senate skepticism - Yahoo! News