Auto Bailout - Now $34 Billion Dollars!

As long as large and failing companies are asking the government for bailouts, the auto industry figures they may as well ask for more. Their original request was $25 Billion Dollars. Now they are asking for $34 Billion. Maybe they think by not flying in their private jets, congress would be more likely to give them more money.

uh. no.

However, I've been thinking quite a bit about this auto industry bailout and I think my mind might be changing. Nothing in concrete yet, but maybe changing.

First, the US auto industry saw this day coming for years and years and continued to put off the needed changes. These changes include a change to smaller, far more fuel efficient vehicles and a major cutback on gas guzzlers and union pay. I won't take time to discuss my thoughts on Unions. For now, I'll leave it with the thought that, if you stopped working - would you like to be paid up to 95% of your salary even though you aren't working? Yeah, me too. Maybe I'll join the UAW. But - not that - not now.

The US auto industry should have made these changes years and years ago and yet neglected those changes. Now, they are ailing and need some help. I am very much against giving big companies big money to fix their big mistakes. But I'm starting to think that the auto industry could use a lesson being taught.

My hope is, the change from private jet flight to hybrid vehicle driving is barely a small first in a large line of changes that need/should take place in the industry.

While I don't believe the failure of one or more of 'The Big 3' will cause 2.5 Million job losses as has been reported, I do believe that there will be some economic fallout that will result. To stave off some of the bad times that could come, I'm starting to think we SHOULD bailout these big companies - BUT - only under strict terms, with heavy enforcement of said rules.

Further more, this bailout should be a loan only. I don't like the idea of the government getting a stake in these companies. In essence, the government is deciding for Joe Public, where he will be investing his money - that he hasn't even made yet. No thanks - I'll invest my own money in my own time in my own places.

If 'The Big 3' can accept strict rules and regulations, and the UAW went away, and the companies paid the money back - I'm thinking we should give them enough to restructure and start building what we want - instead of what they want. Thus preventing serious job losses and the economic Armageddon that has been so heavily pushed by the media.