The Big Three schlep back up on Capitol Hill, hats in hand, massaging the road sores they got from actually driving from Detroit to D.C., where they will beg for bucks once again. They are in hopes that their performance will be a lot more convincing – not to mention, vastly less tone-deaf – than their last appearence. In the meantime, we’re treated to a parade of concerned Senators and Representatives who wail that, without an immediate bailout, The American Automobile Industry Will Come To An End As We Know It.™
In order to understand why, you have to grok that there are really TWO American automobile industries – the traditional one in Detroit, and the one that exists everywhere else. Continue reading What does “American-Made” mean?
Let’s get one thing straight. I love American cars. My wife and I both drive Jeeps. While Mrs. Digital has, on occasion, driven a rice-burner, I have never owned anything but an American automobile. On the other hand, I think that American automobile manufacturers management is clueless, the Unions are parasitical, their boards of directors are derelict in their duties, and the whole thing needs to have one giant hycolonic, so it can be reformed into something that is once-again a shining example of American know-how and productivity.
Lord knows, it’s miles away from that today. Continue reading Motor City Madness.
I’m a big fan of Gilbert & Sullivan. In their immortal operetta, The Gondoliers, the ingeneue’s father, the Duke of Plaza-Toro (Count Matadoro, Baron Picadoro), realizes that being a member of the nobility is at odds with his current, destitute state of affairs. His novel solution was to apply for by the public under the Limited Liability Company Act. In American terms, that means he “went public,” offering shares in his Dukedom on the stock exchange. If Gilbert & Sullivan were alive today, I’m sure they’d write The Gondoliers II – The Baratarian Pirates Strike Back, where they’d script the Duke in debt once again, applying to the government for a bailout.
First it was the mortgage companies.
Then the insurance companies.
Next it was the automobile companies.
Now the credit card companies step up for a handout.
Will somebody please tell me where this governmental largess (with OUR friggin’ money!) will end? Continue reading Where will it all end?