The antilock breaks on the auto industry finally engaged this morning. General Motors CEO Rick Wagoner was the bug on the windshield as Team Obama unveiled it's plan for the industry bailout. GM gets 60 days and Chrysler gets 30 days to show they deserve to be kept on life support rather then being sent to the chop shop. Chrysler is facing the prospect of a shotgun mixed marriage of inconvenience with Italian automaker Fiat. The news struck Wall Street (which had already been driven into the ditch) like a deer in the grill. The Dow dropped 288 points, probably on the theory that drunk drivers are better left behind the wheel than sent to jail. At least one of the auto giants is likely not to survive. And the blind flailing industry shouting out for help has only "no man" to blame but itself.
Monday, March 30, 2009
Hope they have an airbag
The antilock breaks on the auto industry finally engaged this morning. General Motors CEO Rick Wagoner was the bug on the windshield as Team Obama unveiled it's plan for the industry bailout. GM gets 60 days and Chrysler gets 30 days to show they deserve to be kept on life support rather then being sent to the chop shop. Chrysler is facing the prospect of a shotgun mixed marriage of inconvenience with Italian automaker Fiat. The news struck Wall Street (which had already been driven into the ditch) like a deer in the grill. The Dow dropped 288 points, probably on the theory that drunk drivers are better left behind the wheel than sent to jail. At least one of the auto giants is likely not to survive. And the blind flailing industry shouting out for help has only "no man" to blame but itself.
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