Missing Link

For the past few weeks I’ve heard nothing but bad news with regards to the US Economy.   The financial crisis, the steep market decline, and an increasing number of banks tanking and then being bought out at the last minute leave me wondering when it will all end.

The government passed a $700 BILLION bailout bill that gave the treasury the ability to spend our taxpayer dollars on a whim.  So far there’s been very little oversight on the process, and the treasury secretary decided not so long ago that his initial plan won’t work, so he’s changing the game.

Now we have other large companies wanting to stick their hands in the honey pot.  The most notable being the “Big Three” automakers (GM, Ford and Chrysler)  who this very week are out in Washington asking our legislators for some $25 Billion dollars.   The reason? They were irresponsible and are going to run out of money.   Their chosen method of travel? PRIVATE FREAKING JETS!

Now, let me explain something to those of you who may not know exactly how expensive it is to fly a private jet someplace.    Many of us are used to thinking about air travel in terms of a $200-400 ticket on an airline, depending on how nice of a seat you get (if the airline has first class), etc.      Compare THAT to flying a private jet,  which would cost approx. $18,000-20,000 for the same trip.   Yes, that’s 18 to 20 THOUSAND DOLLARS. (For my more lascivious readers, that’s enough money to pay for a subscription to three porn websites for 18.5 YEARS.  Yes, YEARS.)

So, these assholes have the balls to fly out to our capital on private jets, a flight that costs them at least 18 thousand dollars,   to beg for money.  Company representatives for each company gave nothing but lame excuses about travel policies that cite safety reasons for why they have to fly private jet.   I think it’s more “I don’t want to give up my personal jet and fly with the normal folk”.    

What’s even more impressive is that, despite years of poor (and slowly growing worse) performance,  a track record that shows a complete inability to adapt and adjust, and a complete and utter lack of inspiration in the design and features of their vehicles – they have the gall to call their current plight a result of the financial crisis.  While yes, that did probably accelerate their decline, it was already well on it’s way to happening.   

Regardless, if we take their argument at face value, they’re essentially coming to the government saying “we can’t sell our products,   because of that we need you to just GIVE us money”.   That, my friends, is not how business is supposed to work.   At Proxito | Bouncepad | DeftMobile,   when we couldn’t get enough people to purchase our products….. we went out of business.   It sucks, but we recognized that we made mistakes, owned up to them and shut down.   It was painful.   It sucked.    But we did it anyways, recognizing that – in the end – it was nobody’s fault but our own.    There was no government bailout,    no $1,000,000 in free money to keep us in operation.   Why, then, should the government, and ultimately the taxpayers, have to bailout the Big Three?  What are we getting in exchange?

Some would argue that what we get in return is a stronger economy,   people keeping their jobs, etc.   I disagree.     Sure, we’ll get those for a short term,   but there’s nothing to force the Big Three to change, and without changes we’re just delaying the inevitable. I am finding the whole thing really difficult to swallow… we should not be rewarding their failures!

I suggest an alternative to just giving them the cash.  We give them the money, they give us a car.   And not one of their crappy cars either.   That way the taxpayers are at least getting something out of the deal.  

GM and Ford both refuse to even consider Bankruptcy as an option.   Both stubbornly refuse to even have a contingency plan in place for if that were to come to pass.  Their reasoning:  If we talk about bankruptcy then nobody is going to buy our cars.   I have news for the CEO’s of those companies:   If you run out of money nobody is going to buy your cars either,   and you’d be much better off having some pre-planning done before you get to that point.  

Oh, and guys, if you’re concerned about running out of money….. maybe you should put the keys to your jet away and fly coach…. Like the rest of us.