This YouTube video is causing a stir in the auto world.
It seems like the PR departments of the Big 3 have been hard at work, creating a video that gives disturbing facts set against urgent, haunting music to create an atmosphere of fear; all in an attempt to gather support for a government bailout.
And I’m not buying it.
Look, the bottom line is this: The U.S. auto industry needs to change. It needs a complete restructuring if not a total rebuild. Loaning them money so they can continue business now will not help them down the road.
Plus, even if they do get bailed out, will Americans buy their products knowing the shaky ground they stand on? Then there’s the news that Chrysler is doling out $30 million in executive bonuses as they lobby for a government bailout. Americans are smart and won’t support that kind of business behavior.
Yes, a collapse will result in a lot of lost jobs; I won’t argue that. It’ll hurt the already hurting economy.
A collapse of the U.S. automakers won’t completely kill off the entire auto industry, though. Car parts will still be needed for auto maintenance. Americans will still buy new cars (many made in America by foreign-owned companies), and they’ll still need to be serviced. New companies may sprout up and build domestic autos. Old companies may be reborn.
It wouldn’t be the dramatic apocalypse people make it out to be. It would eventually give birth to a vibrant and strong auto industry the U.S. could be proud of.
But a collapse would certainly change things, dramatically and immediately. And if there’s anything people in this country fear more than anything, it’s change.
Does this video influence your thoughts on the auto industry?