In Lieu of an Automobile Manufacturer Bailout

Here's an idea that I've been bouncing around in my cranium ever since I heard that auto makers want a ($25 billion) part of the bailout package making its way around in congress.

There's a massive void in the automotive market place, where people increasingly want affordable, dependable, and green vehicles. They would preferably be simple and cost-effective when it comes to maintenance, be carbon neutral, or better yet, carbon negative.

So my proposition is this; let the auto manufacturers have their money, with the caveat that they must BE PRODUCING automobiles that meet the above criteria within five years, otherwise they will be required to pay back any funds allotted to them from the bailout package, or be forced to close their doors.

We, as Americans, have the engineering skill to accomplish this with VERY little effort. There's no reason that we should not be leading the way when it comes to innovation in world technology.

This kind of contract with the auto makers would save jobs that might otherwise be lost, and possibly create more jobs. If they're successful at accomplishing their goals, they've then created an economic force, where people will be essentially breaking down the doors to get their hands on one of these vehicles. Jobs, money, restoration of our place in the world technologies market.

What doesn't make sense about this?

Comments

[Shirley]

Five years is too long. Three years MAX, two would be better yet. They already know what to do, and if they're motivated by money (and we know they are) they'll get it done. It's time for American businesses to get serious about fixing the problems. We've been dragging our feet way too long.

No bonuses, no retirement matches, & two week annual vacations for the CEO's and board members until their bailout is repaid.

[Aaron B.]

I thought three to begin with, too, but I thought it sounded rather heartless. CEO's be damned, but I'm more concerned with the factory workers and machinists that would need some stability in their jobs, or at least ample time to find new employment.

It could also be considered to forgive their debt TEMPORARILY and make it a race. If you're the first (or one of the first) to accomplish these goals, your debt is forgiven. As for the rest of them, see ya' later!

[Shirley]

Part of my thinking of giving them less time rather than more, was to employ lots of people quickly. If the banks hadn't all needed a bailout we could have just told the auto industry to get a loan from all their friendly banks that gave undeserved loans to car buyers. 'Can't get blood from a turnip they say......:(

[Aaron B.]

Ha. I hadn't really thought of it that way, but given the way they've been running things lately, I don't know that they'd have the wherewithal to see it that way. They'd probably end up cutting half their work force in an effort to make the most of their bailout money. Who knows?