Motor City Breakdown
November 28th, 2008 admin
The Big Three are not living up to their name these days. General Motors and Chrysler are at the brink of insolvency and Ford has only enough working capital to last through 2009. Where did all the profits from SUV’s go? With margins up to about $10,000 per smog spewing, global climate changing, Detroit land yacht, the bloated Big Three were living the high octane life. Old habits die hard, it seems. Executives from the beleaguered three flew private jets to Washington with their hats in hand to get a piece of the bailout pie. Perhaps if they drove their concept hybrid vehicles, (ones that work, that is), to the capital, a more sympathetic Congress and public might be willing to consider handing out truck loads of billions. President Obama has strings attached to the would-be bailout, invest more in green vehicle technology where the “rubber meets the road” or domestic auto makers will be sputtering towards a dead end.
