by Roger Guimond

Created on: April 01, 2009

The auto industry is in trouble. While I'm a firm believer that laissez-faire is the way to go, all around the country there are businesses that have gotten "too big for their own britches." How many more companies am I "Joe the taxpayer" going to bail out, without some collateral or security that the billions of dollars are not wasted?

Take some time and look at what's happening on Wall Street and tell me you feel assured that CEOs are going to do what's right. Even now their inanity is rewarded by million dollar bonuses. The government's stepped in to quell rewarding stupidity, had it not taken this step the upper management would have continued its back slapping at the expense of the stockholders. And who suffers the little guy. Currently banks are unable to give loans because the large lenders invested like drunken lottery winners. Speaking of which GM stock was selling at near $25 a share a year ago and now, less than 10% of that. Ford is in the 2$ range and it doesn't appear to be climbing anytime soon. And Chrysler, aka "Hemi," the little brother, needs a partner or a bucket full of money.

As far as these large firms are concerned there is never enough money for them and their corporate jets, vacation homes, helicopters, and golden parachutes. Thomas Jefferson stood for "a government that governs least governs best." Not today. Corporations need to be controlled because they are too large, like our government. To allow them to fall the wayside and throw more than million into the unemployment line just hurts the little guy again. Remember not just "The Big Three" are affected, but the small businesses the part suppliers are too. Thee more than a million jobs lost in the US will go overseas. "The Big Three" soon to be "The Littler Three" (possibly Two") should have been taking lessons from Japan and Korea. In the past as well as the present Japan strived to be perfect; Toyota, Honda, and their other divisions are rated one and two respectively every year for reliability, for at least the past ten years. To exacerbate Detroit's folly we have the newcomer Hyundai that's more than respectable. I know, I know, all the automobile manufacturers are in trouble, and the playing field is not level due to universal healthcare abroad. But the three auto manufacturers in the most trouble on this planet are right here in the US.

Answer this, who in their right mind wants to invest in any of these automakers? I'm waiting. The answer today is only a fool, the government "of the people, by the people, and for the people." Does anyone have a pump? How about a bucket? Are we on the Titanic?

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