2 posts tagged “bailout”
Apparently the Obama economic team is looking into ways to assist the ailing US auto industry. Here's my proposal:
The US taxpayer will loan you money - not all at once, but over a period of 10 years. In return, you must promise to raise your fleet fuel economy a minimum of 10% per year for each of those 10 years. If, during any year you fail to meet that requirement, the deal is off and no further monies will be forthcoming.
What's that you say? 'Impossible!' 'Can't be done.' Well then perhaps you don't deserve our money. Remember back in the 70's when you all said that requiring catalytic converters on automobiles would destroy the industry. And while you guys were busy pissing and moaning to Congress, Honda went and invented the CVCC engine and were able to meet US emissions standards without bothering with a catalytic converter at all. And you ended up leasing the technology from them. (See Tom Friedman's Hot, Flat, and Crowded.)
So stop whining. Get to work. Or leave the field to those who will.
"How very agreeable it must be to sit at a table in a casino where nobody seems to lose, and to play with a big stack of chips furnished to you by other people, and to have the further assurance that, if anything should ever chance to go wrong, you yourself are guaranteed by the tax dollars of those whose money you are throwing about in the first place! It’s enough to make a cat laugh."
