General Motors, an icon of American manufacturing and the world’s largest automaker, yesterday threw itself at the mercy of Congress, saying it needed $4 billion to avert a cash crisis by the end of the month and as much as $18 billion in federal loans over the next year.
Auto Giants Ratchet Up Pleas for Aid
h goody, here we go again. another US industry is in deep doo-doo thanks to some serious mismanagement and a complete lack of foresight, and now it wants us, the American taxpayers to foot the bill to bail their butts out. I thought that we believed in and practiced capitalism in this country? You know, the law of supply and demand.Give the consumer what they want and, if you don’t, you go belly up like trout in a polluted stream.
The American auto industry, who, in my estimation, has been sleeping with the oil industry, has refused to see that cars that guzzle fossil fuels are not what the American people want. The American people want and need cars that run on fuel that is renewable, and preferably not controlled by countries that don’t much like us. Read the rest of this entry »
