>Ford Announcement Shoots Dow Up!
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Ford Motors: “We Don’t Want Your Money”
Windermere, FL – It’s very reassuring to know that at least one of the three leaders of the “Biig Three” American automakers is an honest man.
Remarks that boosted the Dow Jones Industrials 180 points yesterday, blunting some of Monday’s 680-point plunge, came from Ford Motor Co.’s CEO Alan Mulally, who said his company has enough cash to make it through 2009 and may not need government help.
Sorry to say, similar calming words won’t be coming from General Motors because it isn’t managed as well as Ford. Neither is Chrysler. Ford has large amounts of cash on hand to weather the storm, but GM and Chrysler, by comparison, are urchins in the street begging for money, help we shouldn’t give them.
America should help those who help themselves. Sound familiar? We should forget the other two, let them fail—and with them their expensive unions. Then we should say to the GM and Chrysler unions, you have one year to help your union employees find other jobs, If that includes Paulson money for retraining, fine. Let’s do everything we can to aid these union workers, short of salvaging their system—their very expensive blood-sucking way of leaching from the American car-buying public as they have done the past 75 years.
Ford, General Motors Corp. and Chrysler LLC were scheduled to submit to Congress plans for remaking themselves; lawmakers demanded those plans before considering whether to give the automakers $25 billion in government support. My suggestion. Cut that figure to $10 billion and give it all to Ford as a loan, if they want money, to be paid back in five years. Then if Ford can’t make it, let them fail, too, because you know full well that GM and Chrysler—if you give them the world today—will be back at the public trough snorting like hungry hogs for more, more, more every now and then until we all die of fatigue.
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