More on the Auto Industry

Definitions of short-sightedness:

1. My eyeglasses prescription.

2. The US Senate's refusal to back an aid package to the auto industry.

Somehow, as noted earlier, financial institutions get billions, only to fail anyway.

But an industry that employs a million Americans is supposed to just go bankrupt, taking the supplier industry with it?

That's nuts.

The Canadian federal and Ontario provincial governments have proposed a $3.3 billion dollar package - proportionally, much greater that the $14 billion plan the US Senate rejected. But the Canadian funds only kick in when US aid is forthcoming.

So irony of ironies, we wait for US president George W. Bush to do the right thing.

What are the chances of that?

Comments

[Craig]

The biggest problem is that the pols loaded so much pork onto the package that it had a heart attack and died on the floor.

There will have to be a specific auto saviour bill that is lean, mean and has verifiable targets for the industry to meet before it passes. Well, either that or half the house gets bribed into insensibility before voting and the other half passes it. Take your pick on which one is more likely. *sigh*

[Mike Kean]

My understanding at refusal from government funding is predicted. How the hell can those big 3 survive with vast amount of demands from their union? All I'm asking is for the CAW/UAW to shave a few dollars from their hourly pay. I'm doing great with 15 bucks an hour and driving a Fusion!