Who gave the President of the United States authority to dictate the future of not only American businesses, but American tax payers both retired and actively working?
First the financial institutions, now the auto industry. Will you be next?
GM, Chrysler and Ford have the same problem as the U.S. Government – the reluctance to reduce expenses. The Government is mandating that businesses run more efficiently, but fail to do the same thing themselves.
- The automakers financial problems are the result of Government intervention.
- Decades of Government miss-management created their problems – first by supporting un-tethered dictatorship by unions then through horribly managed international trade agreements.
The automakers spend more per car on retired workers than their current payroll for existing employees.
Foreign Government subsidize the retirement of their auto workers, not to mention nearly their entire auto companies research and development.
The so called “fair trade” agreements have place an un-fair competitive advantage on U.S. auto companies and now we have a President who has never run anything deciding on the future of American businesses. If every imported car were taxed to create an equal cost (including all the foreign subsidies), U.S. cars would be the least expensive in the world.
If I were Mr. Wagoner I would not bow to Obama, I would take charge and lead GM into a highly combative environment. I would declare bankruptcy to cancel union contacts forcing Obama to deal with his sacred national health insurance especially for the millions of retired GM workers. Then I would go on a huge campaign explaining to the American People how the Government has used “Free Trade” to kill the American auto industry.
Obama – prove you can run the Government BEFORE you try to run PRIVATE BUSINESS!