Tag Archives: Ford

Forget The Bailout, Check Out The New Mustang!

13 Dec

As a ’60s Mustang freak, I actually like the current Mustang better than the 2010 model.  There.  I said it.

What do you think?

Confession! I Get Emotional Over Detroit!

3 Dec

The more I think about it, the more I realize that I get emotional over Detroit.  Intellectually, I do believe a bail out should happen.  (please see post below – or don’t, it’s your call)

The prospect of Detroit going under hits a nerve with me.  I don’t really know why this is.  I haven’t bought an American car in over twenty years and don’t feel any particular guilt over that.  It just feels to me like America should produce cars and that at least some of those should be produced by American owned companies no matter how incompetant.

I don’t feel this way about many other products.  Most home electronics aren’t made in the U.S. any longe and I’ve never lost a second of my life pondering that.

There’s just something about cars.  Maybe it was growing up in the 70s?  I caught the tail end of the muscle car era.  As a very young child, my parents and some of my other relatives had some really cool cars back when America still knew how to make them.

And really, that’s probably the core concern for me.  It’s the making and the knowledge.  Our economy has changed from being a production based economy to an information based economy.  Much of that has to do with our growing prosperity over the last century.  And much of that is, in fact, natural and positive change.

My worry is that there is a point at which anything goes to far.  Don’t great nations have to retain the ability to compete and produce goods wanted around the world if they want to remain great nations?  It certainly seems so to me.  If that’s truth, then the failure of the American auto industry may be a signal of far greater troubles ahead.

And maybe that’s what has me so emotional or it could be my “man period”…

Private Jets Be Damned! What’s A Lousy 25 Billion Anyway!?

3 Dec

Every morning when I wake up it seems that I’m greeted by the news of some other financial or quasi-financial company being bailed out by the federal government.  One morning it’s billions to AIG.  The next it’s billions to Citibank.  And then it’s AIG’s turn again. 

And when I say the federal government is bailing out the AIGs of the world, I really mean the US taxpayer.  Tons of our hard earned dollars are going to rescue corporations that failed due to lack of attention from our federal government coupled with the unchecked greed and incompetence of the upper management at these firms.

Like many of you, the whole thing sickens me.  I can’t escape the nagging feeling that history will report that a lot of the bailout money was misspent.  However, I can’t escape this other feeling that we’ve got to do something.  Like it or not, the failure of some of these huge financial firms would be devastating to the economy (as far as I can tell having never taken an economics or business course – not that those seemed to have helped AIG’s or Citi’s management too much).

What I can’t fathom is why Congress can’t get behind bailing out Detroit.  It was fantastic to make them sweat, but now that that goal is accomplished it’s time to give them what they want.

I totally get that the bailout of Citi and AIG helps not only their fat cat executives but also helps the economy in general.  In part by helping to ensure that the assistants and other non-fat cat types keep their jobs at AIG and Citi.

And really that’s my concern with Detroit.  I could care less about their bumbling executives.  But, how can we let autoworkers go under in this economy?  And what about all the businesses both large and small that depend on the US auto industry?  How can we risk turning all those people out in the streets now?

Sure, some say that foreign manufacturers would put some those people to work if the Big Three went under, but how long will that take?  Do we have that kind of time?

One common concern about all these bailouts is that no help seems to be coming to the common working person.  The government seems to only be in the business of saving big business from itself.

The Detroit rescue feels different to me.  At least a little.  This one seems closer to actually helping Main Street more than Wall Street.

That would be a welcome relief.