Let Detroit fund its own damned projects

For decades, Big Auto has fought environmental laws and beaten down attempts to modernize the US industry to produce more fuel efficient cars. They sell fuel efficient cars overseas but always find reasons why they can’t sell them in the US. Now that their brilliant plan to only produce gas hogs has failed, look who is lining up for $50 billion worth of help, as if there’s cash laying around for the taking. If we were to prop up these colossal failures, we ought to insist that they are truly on the cutting edge of environmental, safety and efficiency and not just up to our backwards current standards. Otherwise, why bother?

What is also puzzling is Chrysler asking to be involved in a bailout. Chrysler was saved by the American taxpayer in the past, then sold off to the German car maker Daimler-Benz before being sold to one of the richest private equity firms in the US, Cerberus Capital Management. The private equity folks add big names to their boards and have deep pockets thanks to tax laws that help them avoid paying their fair share of taxes like everyone else. Cerberus Capital Management purchased Chrysler barely over one year ago so why do taxpayers owe anything to this company? Cerberus obviously is doing well, so let them fund *normal* business expenses.

Detroit still believes that it’s 1950, when they dominated many aspects of the economy. In 2008 the majority of Americans work for small businesses so why not make a business decision and do more to promote small business? Investing more in Detroit without multiple strings is a waste of taxpayer money and time. Until Detroit – at least Ford and GM, to hell with Chrysler – can show serious progress on fuel efficiency, environment and new jobs in the US there’s no reason to throw more money and hope that it somehow all works out. They made their bad business decisions to the detriment of the US economy so now it’s our turn to make a sound business decision.

An American in Paris, France. BA in History & Political Science from Ohio State. Provided consulting services to US software startups, launching new business overseas that have both IPO’d and sold to well-known global software companies. Currently launching a new cloud-based startup. Full bio here.

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