Obama's Plan: Bail Out the Automotive Sector?

It has been done before - remember the government bailout of Chrysler some years ago? At the risk of alienating any of you UAW and Chrysler viewers, we think that Chrysler is beyond being bailed out. They've been bailed out before and recently bought out by Cerberus. How could they possibly be saved now? Sorry, we just don't see it. But, perhaps Mr. Obama only desires to bail out Ford and GM. We just don't know yet. And it will be several months for these giants on the ropes until a rescue can be effective - if at all.... China does, however, have a plan. Maybe this is their big opportunity to rule the financial world - or to rule the world financially? All hail Red China? Is the world about to go Communist?

Also, the Obama team is rolling around a number like $ 100 Bn. Doesn't sound like enough - does it? That should probably be doubled - even tripled. Perhaps a good plan would be to split up one or two of the automotive companies and give them a new direction or government mandate. Like the development and sales of "fuel-free"vehicles. Or develop some sort of new mass transit system for the nation with the responsibility of developing a new "energy infrastructure". We know that sounds more vague than visionary. But, we believe that Obama was voted in as something of a visionary - whereas the other candidates were not perceived as such. Maybe it is time to use that now-tired catchphrase - "Thinking outside of the box."

Again, our proposal would be to take some of that auto bailout money and use to fund the development a "greener" set of vehicles or mass transit system with a new infrastructure. Right now, we don't think any of these "ideas" should be excluded. This is a perfect (?) opportunity for Mr. Obama and his team to change the industry - and help the economy and the environment at the same time. We hope he his visionary enough to choose this - or some sort of new direction - in his plan. Just another high dollar-bailout to fix an ailing system may just not be the right thing. It may help the economy, but for how long, and at what cost? Remember, the 2008 election was about "Change". Not the status quo.

China to boost economy in global anti-crisis push

http://www.newsdaily.com/stories/tre49n5vu-us-financial6/

Russian submarine accident kills 20

http://news.bbc.co.uk/2/hi/europe/7718156.stm

Obama disappoints Iranians looking for a change in US policy

http://news.bbc.co.uk/2/hi/americas/us_elections_2008/7718603.stm

Obama positioned to reverse Bush

http://www.msnbc.msn.com/id/27628719/

Employers cut 240,000 jobs in October

http://www.msnbc.msn.com/id/27591780/

GM staring into abyss; industry seeks help

http://www.msnbc.msn.com/id/27575144/

Obama Backs Auto Industry Aid: Emanuel

http://abcnews.go.com/ThisWeek/story?id=6216316&page=1

Greenspan Sees Steep Decline In U.S. GDP

http://www.cbsnews.com/stories/2008/11/07/business/main4584998.shtml

Latvian government takes over major bank

http://news.yahoo.com/s/ap/20081109/ap_on_bi_ge/eu_latvia_bank_nationalization;_ylt=ArA9nuAckTypStxQuXbJWWas0NUE

Minn. ruling favors Franken as recount looms

http://www.msnbc.msn.com/id/27594841/