A Weekly Standard article by Henry Payne and Richard Burr explores the potential impact the UAW takeover of Chrysler.
'In an extraordinary abuse of government power, the Obama administration has run roughshod over bankruptcy law, bullied Chrysler investors, and orchestrated a takeover of the Auburn Hills-based automaker by the United Auto Workers union, a key Democratic party constituency that gave $5 million to the Obama campaign in 2008.
As a result, Chrysler is poised "to emerge from the process as early as next month," reports the Wall Street Journal, on schedule with Obama's predicted two-month bankruptcy. The power play has secured Chrysler's short-run viability, but it begs the long-term question: What future investor will commit money to a UAW-run automaker knowing the federal government can rewrite the rules whenever it wants?'
My very first car was a '57 Chrysler Windsor. What a boat. I called it the Ark. It had those huge tail fins and it got about 13 miles to the gallon at its very best. But I loved that car. I've driven mostly Chryslers ever since, but the '01 Chrysler Sebring that my daughter now drives is going to be my last. I'm a Ford man now. I like my Ranger, but more importantly, I would rather not contribute to the Democratic party by buying one of their cars.
How long can Ford hold out when it is required by contract to employ its direct competitors to build its products. What if those competitors decide to sabotage the product to weaken the company? What if there's a crippling strike against Ford? Would that force Ford to accept a government sponsored union takeover also? Ford's running in the red right now also, just not as bad as the other two. Are you ready to look at Honda?
Posted by: PJ Smith | May 13, 2009 at 10:39 AM
Good point. The answer is yes. I'm ready to look at Honda, and ready to look at Toyota and Mazda as well. They have pickup trucks.
I wonder if we'll be able to vote the Democrats out of office before their banana republic politics drive the US economy right into the third world.
Posted by: Tom Bowler | May 13, 2009 at 11:25 AM
I liked my Ford Ranger ok. But I like my Toyota Tacoma better. Unfortunately, the model that I got is no longer available because Toyota is not building them that small anymore. But the one I have now should last at least another 8 years, and will probably be the last gasoline-powered automobile I will ever own. In fact, when it's time to rebuild the engine in this one, I may convert it to electric.
Anything but a Pelosi-mobile.
---
www.chl-tx.com (Thanks, BHO, for the fantastic stimulus you have given *my* business!)
Posted by: TX CHL Instructor | May 13, 2009 at 02:43 PM
Speaking of stimulus, Pete's Gun & Tackle has a poster behind the counter: "Employee of the Month". It has a picture of Barack Obama. Sales are booming. No pun intended.
Posted by: Tom Bowler | May 14, 2009 at 12:55 PM