Tuesday, June 2, 2009
Politics / Silverman / The Economy Blackburn Blames Washington for Spring Hill Shutdown, Corker Still Trusts GM
Posted by Jack Silverman on Tue, Jun 2, 2009 at 10:48 AM
"I fear that Spring Hill's families are now paying for Washington's folly. The uncertainty they are facing today could have been avoided. Late last year, I joined my colleagues in recommending a structured bankruptcy for General Motors and Chrysler. The bailout alternative that was pursued has failed. What we are left with is the near complete nationalization of what was once our nation's flagship industry, mountains of federal debt, families uncertain about their future now that the Spring Hill plant sits idle, and the parts suppliers and small businesses who depended on Spring Hill facing tough choices...."So in other words, the entrenched, inept corporate leadership that for three decades has managed to turn a blind eye to innovation, market competition and buyers' continually evolving preferences is not the real problem. We should have just handed them a handsome bailout and let them sort it out the way they know best, since they've got such an umblemished track record. Meanwhile, though not quite as unhinged from reality, Sen. Bob Corker also has faith GM's leadership can solve its own problems:
"I think when this all began, we knew all the issues GM had as a company. Certainly, the administration is addressing those with all of these things it is doing. Should the company be doing it instead of government? Absolutely."Of course, only time will tell if the Obama plan can save the company, and hopefully bring jobs back to Spring Hill. But to expect a corporate and organizational structure that has been headed in the wrong direction for 30-plus years to suddenly reform itself as a profitable, forward-thinking entity seems a little deluded, to say the least. It's like giving your brother who's been on a 30-year crack binge $1,000 because he tells you he needs it to get straight.
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Not that GM fat cats weren't bad enough, I'm sure the government will now have them building cars with $500.00 hammers and $2,000.00 toilet seats in the restrooms. On second thought, for GM that would be business as usual. The government will just have Congress vote on it and add a mandatory condom dispenser in every vehicle and if they ever become profitable again thy will have to devote 30% of earnings to saving the snail darter, 30% to feed the hungry in Botswana, and the last 30% to the Democratic National Committee. I don't see why they just say the heck with cars and have the administration lend them their Majic Printing Machine that keeps making all those gazillions of little, green, paper thingys with the pictures of old white men on the front.
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