Saturday, December 6, 2008

Response From Bill Nelson

My responses are in blue.

Dear Mr. Moore:

Thank you for contacting me regarding the proposed bailout of the auto industry.

Great, this is going to be a canned response.

In my judgment, the Big Three auto makers have arrived at this point through their own poor management. The fact that so many American manufacturing jobs are at risk is the only reason these companies deserve any taxpayer assistance. In order to avoid digging ourselves into a deeper economic hole, we must take action. But we cannot simply have another bailout. Any assistance from the government must come in the form of a loan with significant strings attached to force these companies to restructure the way they do business.

Just because these three companies employ large amounts of people, they deserve taxpayer assistance? Why is that my concern? I don't want my money going to bail out the union workers who can't be fired, who have a better benefit and retirement package than the majority of Americans, and who make a sub-standard product. The American people have spoken out on this issue already. If they wanted to bail out the Big Three, they would have been buying their cars.

Further, I have a real problem with the federal government getting into the business of lending money to companies. I don't want the government telling companies how to do business.

First, we must insist that the Big Three increase their average fuel economy to 50 miles per gallon by 2020. Automakers must also increase production of flex-fuel, electric, and plug-in hybrid vehicles. Foreign car companies have been building fuel efficient cars for years, and now in this era of volatile gas prices, the American manufacturers find themselves at a disadvantage.

They don't "find" themselves at a disadvantage. They put themselves at a disadvantage. They manufactured and set themselves into a market niche, and when that market dried up, they screwed themselves. They aren't victims. They're stupid. And I don't want my money subsidizing stupid (though it does pay Senators' salaries, so...).

We must also ensure that no taxpayer money goes to reward the people who got us in this situation in the first place. Shareholders in these companies should not receive dividends until they return to financial health. We must place limits on executive compensation and eliminate golden parachutes. Finally, we must insist that these companies replace their senior management. We need new leadership and fresh ideas to get us out of this mess.

Sounds like tough talk. I just doubt it'll happen. I'd also love to see them get rid of the unions. I'd also like to have a solid gold toilet seat, but it's just not in the cards.

I appreciate the time you've taken to contact me about this important issue. I am committed to keeping America on the leading edge of manufacturing and technological innovation. Please do not hesitate to share your views with me in the future.

So I can ignore them.

1 comment:

Unknown said...

Nice dude. I like the inserted responses. More of these posts would be nice.