September 11, 2008
– Comments (5)
Driving Hope for ChryslerCerberus's bet that it could turn around ailing Chrysler rides on a single vehicle: The New Dodge Ram.
It is like deja-vu, 1978 all over again, only this time the government is too busy bailing out the financials to subsidize an automaker.
Since about 1980 at least, Chrysler has been a company that survives on one popular model.
1980-1985 Chrysler 5th Avenue / Dodge Diplomat / Plymouth Gran Fury
1985-1993 Dodge Caravan / Plymouth Voyager
1994-2000 Dodge Ram
2000-2005 PT Cruiser
Would it really be bad if a privately held company
sucumbs to the market ?
WTF welfare for wealthy billionaires.
Not a government sponsored entity, or some important financial instrument, but Chrysler, a now privately held entity.
Its time for this one trick pony to realize that its old and decrepit and ready for the glue factory.
But wait, here comes the tax payers with billions and billions.
Again why are we or more correctly why are our politicians ready to spend our money on some billionaire privately held entity.
If you're implying that financials or anything else should be bailed out by the gov't, I disagree. Any corporation can fail and the people can start over. That's what people do, left to their own devices: they survive and start over. That's what makes for a healthy economy.
In general, I agree with you. Letting companies succeed and fail and start anew is generally healthy for innovation. In the long run, it also seems to be OK for most workers and consumers. To me, it is amazing and to the great credit of Americans that a large portion of the population agrees with this sentiment (I don't want to debate if it is a minority or majority, but let's just agree that more Americans believe this than pretty much anyone else in the world.)
Unfortunately, in the short run, if too many companies fail and too many people end up without a job, there is a lot of pain. We'll see how many Americans think the government should just let a bunch of big companies fail then.
My guess, fewer.