18 February 2009

Good money after bad

Car cheques | Free exchange | Economist.com:

TODAY, roughly two months after receiving a $4 billion loan from the government, Chrysler reported its plan for a return to profitability. It's a two part plan, based on the press reports: 1) keep doing what they've been doing, and 2) ask for more government money.
The company, which received $4 billion from the government in December to help it avoid bankruptcy, originally planned to seek $3 billion in April. It now says the vehicle market has deteriorated so dramatically that a total of $9 billion is needed.

But the plan does not call for more plant closings, and only three of the company’s models, which were not immediately named, will be discontinued.
These shameless thieves ought to be strung up right next to their congressional enablers.

If by some combination of massive federal graft and pixie dust Chrysler and GM survive then I will never, as long as I may live, purchase one of their products. In fact I may just make it a hobby to go to their dealerships and pretend to be interested in buying one of their vehicles, just to waste some of their time.

1 comment:

  1. I love it!

    I'll be right there with you.