Re: FORD CEO ALAN MULALLY TESTIFIES ON CAPITOL HILL
I must say I watched this for about 30 minutes while walking on the treadmill at the fitness club, and I was not impressed with any of the 3 speakers. All they did was blame everything but their own management for the issues they've had. Only the Chrysler CEO even would answer Senator Shelby's question about "are there any mistakes your company has made that you'd acknowledge".
In addition, all three of them were opining on the impact a fall of the Big3 would have on GDP, the supply base, the American economy, etc. When in the he&& did they become macroeconomists? I felt like reaching through the TV and telling them to focus on their own companies and not try to scare Congress and the public into giving them a bunch of money.
Can you tell I'm totally against a bailout? I'd be ok with a hybrid solution....give them the loans, but demand they put forth specific plans, with deadlines, and if they miss a deadline, the plug gets pulled. In addition, we (the taxpayers) should be able to take a portion of future profits in exchange for the kindness of supporting them during their difficult times.
Dave
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