Posted by
Jeff Fitzmaurice on Wednesday, December 03, 2008 2:04:45 PM
I've been wondering about the car and truck industry lately. What ever happened to Studebaker, Tucker, White, Mack, Oldsmobile and others. I know some of those vehicles are still around but the companies that made them are out of business or have been bought out by bigger and more stable companies.
I know the Big 3 are just as American as Baseball and Apple Pie, but what if Congress were to take a few steps back and just watch and wait for the free market society to do it's thing. I think we need to keep ancient American institutions around as long as possible, but not at the cost of loosing our free market to a socialist style of economics.
So, the Big Three get 25 billion today. What about tomorrow?? I know it is just a loan, but really, GM can spend 25 billion as fast as I can spend 1 thousand. So, again I ask, what about tomorrow? The Big Three need to take business seriously if they are to stay viable. Otherwise they will end up like some of the old car companies - a figment of U.S. classic car history.