Another day, another major corporation to bailout. Is it just me or are we always bailing out automakers in Detroit? Hint: its not just me and we are constantly bailing out automakers.
How can a corporation so big be run so poorly for so long? No doubt the outrageous cost of health care in this country saddles down automakers. (GM spends almost $2 billion per year on health care for retirees alone) But the bigger problem, as Thomas Friedman notes, is the horrible horrible business plan of these automakers which focuses their resources on lobbying and SUV production instead of innovation.
We need a new approach to aid packages paid for by the taxpayer. I call it “Strings Attached” or “If you don’t like it, I don’t care”
Corporations are not entitled to assistance from the government. If you need help then its going to cost you. In GM’s case, fire every major executive and bring in fresh blood who will push a more fuel efficent, innovative, and ecofriendly company.