Thursday, December 4, 2008

The UAW and the Strangling of the Big Three

Click on the link and it'll take you to a homespun story about a threatened GM strike in 2007. Not so long ago. So now Gettefinger appeared today at the Congressional hearings with the Big Three execs.

With GM on the verge of bankruptcy, Gettlefinger has his hand out for a government bailout. It's a shame. I went back to buying American cars about six years ago (we have 2) and I want the Big Three to survive but the UAW seems to have killed the Golden Goose. Now the taxpayers are on the hook.

Why don't they just give us money to buy a Big Three new car? That would be cheaper and it would work. All these bailouts are a boondoggle, a temporary delusional state which hides the real framework of the economy. It's like the old parents are eating all the grub and saying to hell with the next generation's kids.

One of the more interesting things during the hearing was when Bob Corker, Republican of Tennessee, asked the Chrysler Chief Nardelli why their parent company Cerberous (which is fat with cash) won't front Chrysler some money. It was hilarious if not so pathetic. It came out that Cerberus Private Capital bought Chrysler for the its banking/credit business, not for the cars. The cars were a sidetrip, said Representative Corker. He should know; he had dinner last night with a biggie on the Cerberus board.

The most ridiculous speech of the hearings came from newly purchased Senator Bob Casey of our home state of Pennsylvania. Continuing the rot and corruption which typifies Pennsylvania politics, Casey feels it is his duty to serve as the mouthpiece of his pals in Detroit and Chicago. Casey's an aristocrat with long-term ambitions for himself. He doesn't much give a shit about the workers in the Michigan plants--he trumpeted the UAW line--I thought for a moment he was going to picket but then I remembered aristocrats don't do that.

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