Tuesday, December 9, 2008

Detroit bailout

Let me make this perfectly clear...I say let them file for bankruptcy and let them cure their own ailments, or close up shop. Actually there is a third, they could get bought-out or gobbled up by another company, which would only lead to more speculation as to how and who would do exactly that.

Frankly, I'm a bit bored with executives playing the pompous card and shoving their accountability onto the tax payers. To sit in front of a congressional committee and threaten, "..if you don't bail us out, then the mass unemployment will be on your hands." As if they had nothing whatsoever to do with their companies current condition. Rather, they should act like men, come to Washington and say, this is what we did wrong, this is the cause of our mismanagement and lack of foresight, this is what we're gonna do to rectify the situation, and here is where we need your help.

Funny. From a very early age I've tried to instill in my young son, accountability and responsibility. But with the news today, as well as various companies in recent years, who have been caught lying to their employees, lying to their stockholders, and practicing fraudulent activities, it makes it very hard to convey to my son that crime does not pay.

If Congress wants to bailout these companies, and continue to pay these multi-millionaire their salaries for lacking innovation and just plane being unoriginal, then my answer to them would be: (1) Does anyone know ExxonMobil's number? I'm sure they have some pocket change to spare; (2) I'll give you the money you require but the top ten executives from each company will be removed, without pay, without bonus, without anything. What you have today is all that you have. You drove your company into the ground therefore you leave with what you walked in with. Nothing.

This is a top-down problem, and it's obvious that it's systematic, those working the line, or filing Fulfillment documents DO NOT MAKE THE DECISIONS. Executives do, they get paid for just that, and because of that, they bare the responsibility. And blaming the unions will only go so far. Plus, it's a cop-out. These "men" need to act like men who were entrusted into their positions, and do the right thing. 

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