This will never be solved on an adult webmaster board...lol
This auto industry meltdown has many, many reasons for this to be happening.
There is plenty on blame to go around.
Gov:
Really shitty trade deals put in play by our government. Automotive, Steel, etc. All US manufacturing has been undercut by lame trade agreements our gov has made.
This is really where this problem starts.
Problems -
Auto Execs:
Ridiculously huge compensation for execs. It should be performance based.
Lack of foresight in reading market trends.
Stock options as part of the compensation, leading to risk taking to better the "golden parachute"
Old fashioned Greed
Agreeing to stupid union contracts
Union:
Non flexibility of union contracts. Get real....
Lack of self governing the members. Dead weight needs to be cut.
Needs to work with the management, not against them.
If the bailout doesn't happen, it will be a snowball effect. It is already pretty grim here in Michigan. With a bailout, we will see even more automotive supplier shops close (even non-union for the union haters), more foreclosures, more loan defaults, banking problems because of the defaults, the trickle down will be horrific.
So....nobody wins.
The only way out of this is to stop the stupid one-sided trade agreements and have a limited bailout with concessions from both union and management as well as some extreme oversight to make sure taxpayer money isn't wasted. I'm talking taxpayer ownership, if we are bailing them out I want my moneys worth. There also has to be a more "nationalism" attitude with Americans. In other words, "Be American, Buy American"
