Can we even call them the Big 3 anymore?
There’s news today that the massive automotive bailout plan is heading for defeat. Even if it passed, I doubt it would guarantee the long-term survival of the former automotive giants.
Here’s why: The finances of Ford, GM and Chrysler are being sucked dry by the labor unions and retirees. Current management of these companies have made poor strategic decisions leading, at least partially, to the mess they now find themselves in.
A financial bailout is nothing more than a band-aid and is useless unless it’s a bailout that addresses the above issues. As a car junkie and an American patriot, it’s hard for me to believe I’m even writing this, but I believe at least one of these 3 will cease to exist within the next year.
The options for success just aren’t there, as a financial bailout is becoming unlikely and bankruptcy… well, who’s going to buy a car from a bankrupt automaker?
We’re at the brink of automotive history. We can read what automotive bloggers have to say about the situation and argue about whether or not we should try to prevent collapse, but it’s already happening.
One way or another, major change is on the horizon, and all we can do now is band together and make the best out of whatever change brings us.
Comment here: How would the collapse of at least one of the Big 3 affect you?