Ample Parking

Rick Wagoner parks on the stripes before asking Congress to save his industry. To offset the bad PR of flying to the last hearing in a private jet, Wagoner reportedly drove from Detroit to a DC hotel in a mild hybrid Malibu, then giddyapped the Cruze/Volt test mule from there to the congressional lot above. Ford CEO Mullaly drove a Ford Escape hybrid, a model that is actually for sale, if you can find one that hasn’t been snapped up.
Despite support from Senators Dodd and Schumer, and warnings about the trickle down effects of bankruptcy, Bloomberg reports that Congress has not been receptive. Although the auto execs and union officials are publicly against it, congressional staff members have been broaching the idea of a planned bankruptcy, or reorganization.
No matter what the outcome, I suspect the big loser will be auto workers that have been counting on health care and retirement benefits, and a UAW that will find themselves in a poor bargaining position with the restructured companies and/or new owners in other countries.






Leave a comment