Bailout of the Big Three – Part II

Well, well, well. The CEO’s of Ford and GM have volunteered to cut their pay to $1. This offer comes after all the controversy surrounding their last attempt at stealing, begging, borrowing, asking for a free handout from us.

Pookah would very much like a small tasty bird right now.

No mention of their multi-million dollar compensation packages. I wonder if the reductions on the paychecks is equal to the increase in comps.

No mention of what unproductive product lines they’re dropping.

Pookah thinks that human getting small tasty bird right now would be very productive.

On the plus side, the CEO’s are actually going to use their own company’s products: They’re going to drive to our beloved capitol to steal, beg, borrow, ask for a free handout – except for Ford (see below).

The suspense is killing me. Pet me now or your lap gets it.

Yes. Ford has somehow, miraculously, finagled the ability to not need a bailout. Will wonders never cease. Instead, they want a $9 billion line of stand-by credit that they don’t expect to have to tap.

They made their own gooshy food?

To make it more interesting, Ford:

  • Expects to reach the financial break-even point in 2011
  • Re-invest $14 billion to improve its products fuel efficiency by 14%. (How much of that improvement will be on their worst-performing vehicles?)
  • Called for producing more parts domestically for its vehicles – specifically mentioning batteries.
  • Is selling some/all of its private jets/leased airplanes.

So let’s recap: In 2 weeks, Ford:

  • Figured out a way to break even within 3 years.
  • Offered to cut executive pay – but not compensations – if they take government money.
  • Figured out a way to improve the fuel efficiency of its vehicles, but with no timeline, milestones, or other basic requirements of a project or commitment.

What do you think they could do with a whole 30 days to work with… say, all of December?

Pookah does not think it is a good idea to wait that long to make own gooshy food… or to get small tasty bird.

No deal, Ford. Your plan is still Junior Highschool. You haven’t even passed Finances 101 midterm exams. We’ll talk again after Christmas.

I still vote No Bailout.

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One Response to “Bailout of the Big Three – Part II”

  1. Pjuan says:

    Quote:When a man meets a special woman and they fall in love and get meairrd, something special from God himself is bestowed upon the covenant of marriage Bust out laughing Not always, sometimes they end up adopting ~;-)Unless we find a way to get off this planet in numbers though, the population of humans surely can’t keep going up forever.Does a person need to keep growing in weight, height to be considered a success?In the absence of inflation, do you need to own more and more land each year? A bigger house each year? A bigger car each year?I am not against decent and sensible growth, but I think we buy into some borked concepts related to growth without thinking things through enough. Quote:Growth in business is necessary to remain competitive. Think about it: if I only make enough money to cover my operating expenses, all I can do is maintain the status quo.Profit and growth are two different things. (As I am speaking of growth.)Adjusted for inflation, I can have flat sales, flat expenses and be making nice profits each year and all my employees can be taking home good money.Why must I increase my sales each year? Why do I need to add outlets until I can’t manage them anymore.all the best,drew

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