Thursday, November 20, 2008
Conditions for Big Three Bailout
After the stupidity and greed of the US automakers have made them jump into their corporate jets and crawl up to the Hill with a tin cup in hand, the government needs to tie any bailout to conditions. Their collusion with Big Oil to curtail mass transit in cities for the madness of more superhighways and more gridlock has put our country in a deep hole at the mercy of OPEC and increased CO2 emissions. Their tack of making bigger metal rather than fuel economy was a short term boon that led to a long term disaster. And, their scheme to kill the electric car has left the foreign automakers way out in front in that technology.The conditions for the bailout should be:1. The automakers will change their development strategy to produce plug-in hybrid cars.2. They should develop trucks and buses that run on natural gas.3. They should enter the field of mass transit systems and develop mass transit strategies for large cities.4. They should cap management compensation at 25 times the salary of the average worker.5. They should agree to minimum worker standards in their overseas plants.Their short-term greed strategy has put the country into this mess and to hand them over our tax money without oversight would be criminal.
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