Thursday, February 19, 2009
Auto Bailouts---How Deep Is The Hole?
Our auto industry has a hole in it. What we need to figure out is whether that hole is repairable or broken beyond repair. When you have a hole in your roof, you call a Roofer and have the hole patched. When your coffee cup has a hole in it, you throw it out and replace it with a new one.
When will out government figure out whether GM, Ford and Chrysler are cups or roofs ?
Giving bail out money to the auto industry is like giving a microscope to a blind man. The auto industry has been in trouble for decades, without the vision to see where it was heading and what it would take to get there. Their market share and sales have steadily declined and they have burned away billion in capital. The amazing thing is that they have continued to blindly move ahead without even looking at their more successful competitors to see how and why they were creating a better product, marketing it more successfully and doing both for less money.
Have General Motors, Ford and Chrysler considered what the auto buying public really wants? How about a reasonably priced vehicle that is safe, fuel efficient and inexpensively repaired ?
Continue reading here from City Watch---Rickey M. Gelb