The Bailout

(Remember, you now have access to Colorado Gold as early as 8:20 AM Eastern Time.  Check web site for times.  Now there are three of us, all knowledgeable, all honest and friendly.  I’d like to see my daughter Melissa get some business.  She’s got a Masters in Historic Restoration, and quit her job to do this, because of the huge volume, which I don’t think will decrease over the years. My son David’s been on since Last November, and has done well.  Now let’s give some business to Melissa!)

The brains of D.C. will surely decide to give another $25 billion to GM, Ford, and Chrysler; in addition to the already given $25 billion.  Hank Paulson, the moronic Treasury Secretary says no, but Congress will vote it anyway, I am certain.  Queer Barney Frank has already written the bill.  Will this increase sales?  No.  Will it do anything but pay retirees their health and other benefits?  Probably not. Will it make the union auto workers work harder, or relax their absurd work rules?  Of course not.  Why do it then?  The beggars say that autos are a key part of America, and if Ford, GM, and Chrysler fail, America will fail.  Kee-rap.

It just so happens that Toyota, Mercedes, Honda, and a few others made in America, are doing just fine and need no bailouts, even though their sales are down. They’re non-union, and their employees seem to be happy.  Look people, I love America, but really do believe that corporate heads are about as dumb as anyone walking the street.  They gave in to unions for decades, and now will reap the rewards.  Unless the taxpayers bail them out, anyway.  Let the retirees do without their lavish health care.  Delta Pilots gave in hugely to preserve their jobs, so let’s let the auto worker retirees do without, in order to keep their pensions.

If one loses one’s job, one must cut back.  If a businessman suffers a loss of business, like all businesses are suffering now, they cut back to stay afloat.  If your electric or gas bill is too high, you cut back.  It’s just the normal thing to do.  If the auto CEO’s decided to cut off all health care for retirees and maybe let them keep their pensions, what would happen?  The remaining workers would then threaten to strike.  Let ’em strike!  “OK guys, you strike, and there’ll be no more jobs anywhere around here, because we’ll shut the whole thing down.  The stock is only worth a dollar anyway, so the stockholders have already lost their value.  We’ll sell the property, and that will be it.”  There’d be no strike.

Precedent?  Sure.  Anyone out there remember the Atwater Kent radio?  I’m sure most of you don’t, but it was the Mercedes of radios.  Started by a Philadelphia Main Line rich guy named Atwater Kent.  (The Philadelphia “Main Line” area, abuts the Pennsylvania Railroad’s main line to Chicago, and all the rich people live there, so they can take the train to Center City and their offices.  Some of the most beautiful estates in the world are on the ’Main Line,’ and one ex-president of the Pensylvania had a mansion built to look like a steam locomotive.  I could go on and on about the ’Main Line, but that’s not the subject of this). Atwater Kent, (typical Main Line sophisticated name), loved the new radio invention, decided to invest some of his riches and make radios, with his name on them of course.  He wanted the absolute best money could buy.  He hired the best technicians, and built a marvelous brick factory off of Wayne Ave, in Philly in which to make his radios.  He paid well, but unionism came on the scene.  He said in plain English, “If you vote to unionize, there’ll be no more jobs, because I will shut the whole thing down.”  They voted for a union, after listening to all the propaganda, and that was the end of Atwatrer Kent radios.  All lost their jobs, and Atwater resumed his tennis game.  The building still stands, and naturally, it is full of worthless, useless bureaucrats, which produce nothing.  I had an Atwater Kent by my bed when I was a kid, and it was great.  I have an old antique one now on display in my home.

The gutless wonders which run the corporate world, have been, and will be responsible in the future, for trillions of lost investor’s dollars, so ignorant of economics and common business sense they are, it seems.  Look at all the corporate failures, which honest, hard working Americans invested in, and guess who was responsible?  It’s always the CEO’s, who make one mistake after another, in an endless stream of ineptness, lack of judgment and common sense.  While Ford, Chrysler and GM build factories in China, Toyota, Honda and Mercedes build factories in America.  Non-union, of course.  All workers’ futures are in the hands of their bosses.  If their bosses make poor decisions, the workers suffer.  Unfortunately, the bosses who make the mistakes never seem to suffer, but retire with golden parachutes.  If criminals have to pay for their misdeed, why shouldn’t the people who bring down corporations also suffer, go to jail, or at least have their ill gotten gains taken from them?