Most of the time, I have an Austrian economics viewpoint, but unless we all want to ride the bus or the train, we should work something out to save the Big 3. UAW MUST go.

The UAW has agreed to help rearrange the deck chairs on the Titanic.

So if the car makers want a bailout, shouldn’t US citizens get ownership of them? Give the shareholders 1/10 penny a share and take ‘em over. If they’re that vital to the economy, then they can’t be left in the hands of individuals anymore and the 1/10 penny a share is more than their current shareholders will get in the “only other option,” bankruptcy, which is apparently inevitable otherwise, according to the CEOs. If they become profitable, then the taxpayers benefit. And if they fold, the taxpayers still get a lot of assets. If they won’t take that option, then I’m not buying the line that it’s the only other option. They are all claiming that they have no other options, yet act like they are in a bargaining position. I’m not big on the idea of nationalizing these companies, but where’s the collateral on this loan? I say we test this, and see if their situation is really as dire as they say it is.

http://biz.yahoo.com/ap/081203/meltdown_autos.html

Chrysler exec: failure could spark depression

If this is the best John Snow and the other idiots who bought this from Daimler can do as far as reasoned discourse, then let them die. Besides they are a private company now…

Sell the damn thing to UAW for six bits, and let the employees work it out.

You guys do realize, all we are hearing now is “Give us billions BY THE END OF THE YEAR, or we are dead meat.”….I really am disgusted by this form of pleading…they are not a charity, they all are businesses and very poorly run businesses for many and many a year…

It appears the UAW too may be moving in that direction; this is all good for the auto industry – maybe too late, but still a positive development.