According to news reports this evening, the bailout is almost final - it will go to the Senate for a vote tomorrow.
I am frankly disappointed in this outcome. I had really hoped that the big 3 would have to do what other companies are forced to do during times of financial trial - file for chapter 11 reorganization. That would require restructuring of monies, staffers, and the like.
The one good thing about this bailout is that a car czar is to be appointed to review progress of the spending etc. every 45 days. That was at least the word last week - I hope it will be the case in the final analysis. While these extortionists, AKA the heads of the big 3 - had asked for over $40 billion, they will have to "make do" with a paltry $15 billion. If we could give a stimulus check to every unemployed and underemployed person out there, we could stimulate the economy, homeless shelters would not be filling up and our country would be better off. I hope and pray that the monies will be used wisely.
I reiterate my point from last week's blog on same issue: the Smart Car sales are not suffering - they are up some 40%. Prices range from $11,600 for a basic car (sans radio and A/C) and deluxe about $16,000.
Let's try to reduce our carbon footprints - the time for the US to drive gas guzzling huge vehicles has long since passed. Let us try to be responsible stewards of our earth.