the bail out the auto industry by had
they’ve submitted their plans for what they needed to bail out of one of the
things that i found very interesting that ford did today alan below with the
c_e_o_ of ford as chairman of four uh… said that ford one c nine billion dollar line of credit they want no money no they don’t want to
draw they want to be able to have money that they can draw down on uh… an immersion away at a later date uh… which is very different than the
sort of haphazard way that the auto industry went to washington uh… two weeks ago to say what is and
what we need and we gotta get back on our private planes that it was very it’s very different and more
ellios apparently driving uh… from detroit to to washington and
you know it this auto industry bailout leaves a bad taste a lot of people melts
but one thing you have to remember about the auto industry you know people are gonna blame the the
big salaries people blame the union power people are gone if the americans made cars that people
wanted to buy it wouldn’t matter how much power the union had it wouldn’t
matter how much the c_e_o_s were making none of that would matter because we’d
be selling cars and moving cars if we can read negotiate those cafe standards
if we can start getting caught american cars competitive again uh… then we’re going to be in a place
where it is not a matter who’s to blame for what’s going on in the auto industry
we just have a good cars nobody cares he was treated at the indians when
americans were making good cars uh… and you know you were to stands i’m sure
there’s some people that work but that it was a lot less fiery for
sure uh… so one thing that i’d think they
need a commitment from the congress is a commitment from these although companies
is a different make better cars and they’re going to keep opt with the cars
that are being made all over the world that are outselling people are not not
buying american cars because of some of you and our now malayalee stake in a
nice picture has nothing to do with that i thought
that was interesting that ford said that port said they have enough money to get
them through the crisis but they need a little emergency uh… account if they have enough money widening the
merchant account you could ask that question but it it you know in order to
plan things you have to be able to have some some uh… uh… away avail
yourself out of trouble if the if the crisis worsens but going back to that is
what i think is so important about these bailouts and why i i don’t think of them
is just handouts object that having american ownership of the american auto
companies to a degree is not the worst in the world hotly there’s so many
people that are employed by these auto companies going from uh… you know from
the technicians and and uh… car repair people in shops all all the way up to
the dealership themselves to the people obviously put the cars together but
let’s not even forget about the people on the diner next to the factory or next to the
dealership were also quickly put out of business we have to save the american auto
companies and i i i’d believe that uh… completely i believe it more than i do
certainly with a lot of the banks because banks are much more easily
replaced it’s not easy to replace g_m_ ford and chrysler i don’t think of them
is a three hundred month residents three different entities and i think as they
go to come to congress they have to present themselves in that way because
if they don’t it’s just going to be looking like a conglomerate
commentcomments again i think they made a huge mistake by coming to congress
uh… together goes on about this with a friend last
night i do think statements and they’re really great conversations where
pemberton at the auto bailout were also found out that the forty niners beat the
bills that makes any difference to because that was great also uh… but the armed needed analytical west coast
of the east coast and winning in this year therefore nate but just put that your uh… in your pocket
and remember that uh… but but you know they probably look at what the banks
given the banks where the congress and i saw that some of them were treated
differently when they when individually linden street differently than their
stories which was his differently than i i j so that their understand why they
didn’t go up there together but by wanted to go through to get it
but i do think that it’s important to look
at these three different uh… three different groups within four to set
himself apart it’ll be interesting to see i think it’ll be interesting for the
markets to see what happens to the stock prices uh… and allot do you know i
think brocco obama is going to make it a priority to keep those doesn’t in in detroit and keep those of companies don’t they
do think that there has to be some kind of a demand from the congress
to make better cars and we had better fuel efficiency and we are evil to
compete both electrically and and and a hybrid way with the cars
that are coming from japan and i by things that uh… we have to we have to
see that house