Mitt Romney throws down the gauntlet in an op-ed in the New York Times.
Finally someone with some backbone is willing to talk about what everybody has been wondering about but were too politically correct to say,(at least publicly.)
What will happen if the Big 3 Auto Makers do get bailed out. Mitt’s answer is simple and unequivocal.
….., you can kiss the American automotive industry goodbye.
My take on his writing is that unless we let them declare bankruptcy they will not change the infrastructure that got them into the mess in the first place. The article is so blatantly obvious and filled with common sense that I expect that Mitt will soon be called some pretty vile names. Not just by the unions which have a vested interested in keeping the status quo, but the Executives of the companies, who without a bailout might be kicked out. At the least they might loose some of their perks.
I enjoyed the Romney’s op-ed, I enjoyed his logic. I enjoyed his common sense. He was brief and too the point. His quote from Reuther was splendid.
But as Walter Reuther, the former head of the United Automobile Workers, said to my father, “Getting more and more pay for less and less work is a dead-end street.”
But then he fires right back at management.
The need for collaboration will mean accepting sanity in salaries and perks. At American Motors, my dad cut his pay and that of his executive team, he bought stock in the company, and he went out to factories to talk to workers directly. Get rid of the planes, the executive dining rooms — all the symbols that breed resentment among the hundreds of thousands who will also be sacrificing to keep the companies afloat
I mean, holy cow can that boy write. He obviously is letting the bee out of his bonnet. I wish he had that same fire in his bid for the Presidency. I think this Mitt Romney and Joe the Plumber would enjoy a talk together.
Then he took a page out of David Cameron of Britain and explained the good Conservative Common Sense way for the government to act. Not to bail them out. Rather the government should facilitate the restructuring that will take place with a bankruptcy by helping with the basic research through a massive infusion of grant money to help the universities perfect new technologies for the Auto Makers so they can build a better product. Also the government should pressure other countries to level the playing field.
This was the best and boldest piece of writing I have read on a national level in a long time. I’m amazed they didn’t bury it quicker.
Lastly Mitt gives me a clue about what he thinks of the 700 billion$ bailout. He says the following. Again good Conservative Common Sense
But don’t ask Washington to give shareholders and bondholders a free pass — they bet on management and they lost
Those holders of bonds and shares for the most part are banks and the equivalent.
Reminds me of saying no to our children, they do get over it and when they end up getting what they wanted it will of been in the old fashioned way. They will have Earned It.
Regards, Live Dangerously Be A Conservative
PS I would love to have him do another op-ed next month about the public schools and how they should be allowed to go bankrupt. The ever increasing money we pay for less results reminds me of the Walter Reuther quote above. The problem is that a “crummy” car is not near as bad as producing a “crummy” kid. What say you Akindele?