A Brief Thought On Chrysler
Joe Sherlock today has piece on the situation at the littlest of the Big Three automakers with the heart of the matter nicely pulled together: "I was pessimistic about Chrysler's survival when it first filed for that bizarre banana-republic bankruptcy, which I now refer to as Obamaruptcy. And the subsequent shotgun marriage to Fiat - a nuptial which only made sense after a lot of drinking or a severe head injury."
First of all, "Obamaruptcy:" heh! It doesn't roll smoothly off the tongue but it is now an essential truism. So, full marks for the neologism.
But it's the meat of the post that intrigues me. I can offer no great insight into the car biz, especially in comparison to Joe who just knows his stuff. But an image, an idea struck me in reading the post. Both Chrysler and Fiat are like two falling-down drunks and the only way two drunks can support each other is if they're falling into each other from opposite directions. Unfortunately for us, Fiat and Chrysler are falling in the same direction with the only difference being the rate of drop.
As Joe said, the American taxpayer will never see his or her money that went into the "rescue" ever again. All to pay back Obama's union backers for their political support. Shameful.