President Bush Bails out Auto Industry-$17 Billion

This morning President Bush (Bust) made the announcement that he would use TARP money to bail out the Big three Auto Companies to prevent the loss of jobs which could only further harm an economy which is already in a serious recession. The deal gives the companies bridge loans until they can either come up with a plan to save their failing companies or prepare for a chapter 11 restructuring of their companies. The sad part is that at this point in time due to the current economic climate nothing else will work. These companies have been fighting tooth and nail to prevent change and now they are paying the price along with their employees. This is just another in a long line of examples of CEOs who don’t live in the real world and have no grounding in how to successfully run a company. These CEOs clearly think that their employee’s welfare is not their responsible. They make decisions that carry high risks and when they fail it is the economy (Taxpayers) and the workers who suffer the consequences. Clearly it is long past overdue for a change in the behavior of these corporate CEOs.

One has to wonder just how little they, corporate CEOs, listen to the people who work for them in their own companies. If it is anything like the place I work at then they pretend to listen and still make poor decisions. This country should come up with a process in which to deal with failed management that provides real consequences for the people who make bad decisions while refusing to work with or listen to their own employees. Until changes are made in the way we deal with management in this country companies will continue to fail and continue to look to the federal government for a bail out.