Detroit Bailout Challenge

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 pic by Reuters 

I would love to have heard what went on in Washington yesterday as the heads of GM, Ford, Chrysler and the UAW sat in a room with congressional leaders asking for $25 billion in loans. The meeting lasted an hour and a half. After introductions, posturing and pictures, I’m sure the real meeting lasted less than an hour – not enough time to do anything. What a waste of plane fare.

 

The car guys were pleading their cases, no doubt, as to how the economy will be further hurt if the Big 3 are allowed to go out of business. Rather, they should have been explaining what they are going to do in real terms, not theory, to turn their product lines around.

 

Here’s my idea: the government should offer the loan to the car company that comes back with the best plan to change the way they do business and build cars. Winner takes all. Ask for all proposals by January 1st and let’s see what happens.


And could we get a few of auto geezers out of the room?  Have you ever seen such a geeze-fest?  Peace!