“It is useless to attempt to reason a man out of a thing he was never reasoned into”

Jonathan Swift
"The Democrats have moved to the right, and the right has moved into a mental hospital." - Bill Maher
"The city is crowded my friends are away and I'm on my own
It's too hot to handle so I gotta get up and go

It's a cruel ... cruel summer"

Friday, November 21, 2008

Save the American Car

Just some thoughts after speaking to an auto sector analyst buddy on how to solve the mess the big 3 are in . . .

1. Buy the big 3 out at current market cap plus 20% (around $10 billion) and put a couple of cpa's in charge who just pay bills. Sell all perks like $33 million jets, and fire board and all top brass. Minimal pensions for these jokers.

2. Combine them all into a single holding company, gov't takes over pension liabilities, (pension benefit guarantee corp (tax payer) is going to have to do this anyway)

3. Stop all manufacturing immediately/retool all plants/ww2 took 5 months to retool keep 10 brands but must all be hybrids or all get minimum 35mpg.

  • sell all current stock at dealerships for cost plus reasonable profit. Taxpayers tote note.
  • construction boost to plant regions.
  • pay workers during process (unemployment benefits anyway if detroit goes boom)
  • employees have to accept pay freeze for 5 years.

4. put all employees on gov't health plan.

When things are going better, allow the company to go public, pay back the taxpayers FIRST.

-Prodigal Son