The Bakersfield Voice

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BAILOUTS

In my humble opinion, the auto industry bailout, now in the billions, should be paid, half by the UAW Union, not the members, but the Union itself, and the other half by upper management who drew exorbitant salaries as they drove their companies into bankruptcy. They over-built, they over paid, and they certainly didn’t consider the market or the consumers. I feel we have bailed them out before and if they haven’t learned by now how to manage their companies, they don’t deserve to be a part of our economy. I realize a lot of people will be put out of work and they are counting on us feeling sorry for these workers. So we will again hand over billions of dollars to make them solvent. They will never be solvent as long as the upper management and the CEO’s remain greedy and incompetent. The UAW Union pushes for higher wages, more benefits then pockets the dues as they grow larger and wealthier and push the auto makers into over-production and ridiculous decisions. . Like the housing industry and the banking industry they ignored the signs of coming doom and keep on with their greedy ways. While the housing industry was over-building homes, the banking industry was making ridiculous loans that they had to have known would never be paid.
How can a family that makes $50,000 a year make a $3,000 house payment? Where in the world is the logic in something like that? And those interest only loans and the adjustable mortgages, all have contributed to the downfall of our economy. Banks and mortgage companies have gone bankrupt and wonder why. Take a look at your business practices and you will know why!
All this makes me feel we need to re-educate all people who study business administration.

The number one change on my list would be GREED DESTROYS!                       Number two would be, USE YOUR COMMON SENSE.