Why the automakers should succeed in their efforts, but need to learn something first

I have been mulling over the vote on this for about 24 hours. Still not entirely surprised at the outcome.

All congress is asking for is that the UAW members take a pay cut for 2 years until things are stable with The Big Three again. A small sacrifice to make given the alternative. I recognize that earning $70+ an hour versus $40 an hour will be difficult, but if they don't accept the deal, they will find themselves unemployed and when they finally find jobs - the line workers, that is - they will be earning more like $10-$15 an hour if they are lucky. They are skilled workers and deserve to be compensated, but during this trying financial time, it would behoove them to swallow their pride, perhaps take on a second job, as are many in the country in our present circumstance and just do what congress is asking - it is surely not an unreasonable request.

Americans are tightening their belts and living within their means for the first time in decades. We are sacrificing, working part time, underemployed, working below our skillsets and abilities, foregoing bonuses, from the smallest to the largest dollars amounts - all for the greater good - taking care of ourselves and our families. We can do this if we work together. Sure, it won't be easy, but look at Rose the Riveter "We can do it."

I wonder what Mitt Romney and Lee Iacocca are thinking about this debacle.

Any ideas out there?

Gentlemen, start your engines

They're baaacck!

The heads of the Big 3 automakers are back in Washington - this time, sans private jets, fortunately.

They have revised their wishlist and one head honcho is even going to take a $1 annual salary until the debt is repaid. Am I thoroughly convinced that the taxpayer should bear the brunt of this debt at a moderate interest rate? Not in the least. Should we really have to pay for the mistakes of managers gone awry? The price and quality of the US automobile has not kept up with those of Japan and other countries. The automakers have not been as aggressive in bringing to the consumer models that are not as reliant on so much darn gasoline.

Why is it again that we should help them? I don't have any relatives or even friends in the auto industry, and I do not mean to sound cold, but why is this our problem? Other companies and consumers have to file for bankruptcy protection at such times as this - this gives them a chance to reorganize their debts (under chapter 11), come up with a credible plan of attack and restructure the company to make it profitable again.

Lee Iacocca asked where have all the leaders gone as it related to political figures in his recent book, "Where Have all the Leaders Gone?" When he was the head of Chrysler, they received a similar bailout, but the monies were repaid within an inordinately short period of time under his fine leadership.

If I were able to have my say on this, aside from in this blog, I would ask the Bush and Obama administrations to insist that the automakers bring Lee Iacocca and Mitt Romney to the table - and force the automaker heads to work with these two remarkable intuitive men when it comes to business acumen. Romney has amassed a fortune turning companies around - it is just too easy for some to get in that line and ask for a handout, not a handup. I say we make it a tad harder.