Remember when Chrysler / Jeep / Dodge did their “Let’s Refuel America” guarantee of $2.99 gas for 3 years for anyone buying one of their new vehicles, in order to offset their cars being gas guzzlers? Given that gas has been cheaper than $2.99 since October of last year (so they haven’t had to pay a dime to this program since then) how are they not swimming in cash? How terrible of financial shape would they have been in if gas prices had actually kept going up? How much more of your tax money would they be holding on to for you then? Remind me again why we have any faith at all in them to not blow through every dime we give them?
Why we don’t let them fail, and let other car manufacturers buy up their facilities and equipment at bankruptcy sale prices and actually build decent cars with it that will sell under a realistic business model? Honda and Toyota already have plants in the US. Yes, that Japanese Honda Accord is made in Ohio, and that Japanese Toyota Tundra is made in Texas, in fact, most of their line up is built here.
Or, break Chrysler up under anti-trust laws into the three brands they’ve already made themselves, so parts of them can fail without taking out a huge sector of the economy. (Same for GM. Ford I’ll be gentle on for the moment since they actually show signs of being in tune with the market, have a reasonably sized line up, and didn’t take government funds.) Anti-trust laws exist so the words “too big to fail” should never be uttered. Too bad the government hasn’t really enforced them since the early to mid ’90′s.