
Why is my car shame on my mind now? Mainly because CEOs from GM, Ford, and Chrysler are testifying this week before a House Financial Services Committee basically begging for their lives. They are asking for a "bridge loan" to give them a large infusion of cash to prevent layoffs and bankruptcy. Part of me wonders, how does this happen? Look at this old Chevy commercial from the 1950s (see below). Would Dinah Shore ever picture this kind of financial scenario?
Who is to blame about the car companies troubles is as big of a debate as is whether or not to bail them out. There are those who say that the American car manufacturers are at fault because of their not being innovative and producing the more fuel-efficient (or non-fuel using) cars that people are looking for. There are others who say that the car companies are just a victim of this terrible economy, and that basically, any and all companies are at risk.
How this will end is anyone's guess. The only thing that is for sure is that these economic troubles are severe and not going away quickly. I think that Tom Friedman said it best on Sunday's edition of Meet the Press when he compared our financial strife to the scene in Jaws, when Roy Scheider gets his first glimpse of the shark and says to the captain, "we're gonna need a bigger boat." Mr Friedman feels that America, and perhaps the world, is "going to need a bigger boat." Hey - don't some of those old Chevys have fins?
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