IMAGES: The first image shows graffiti on a street in Detroit, which is the home of the Big Three: Chrysler, Ford, and General Motors. The image is by Spencer Platt/Getty Images. Detroit, according to the Los Angeles Times, “is among the nation’s most impoverished cities and could be hard hit if the companies fall into bankruptcy.” The second image shows the Chairman and CEO of General Motors Richard Wagoner prior to testifying before the Senate on “December 4, 2008 in Washington, DC.” This image is by Chip Somodevilla/Getty.

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GM has criticized “hybrids as late as January 2004, and only recently announced a half-hearted effort to match Toyota.” Furthermore, GM has fatally embraced large, expensive, and inefficient vehicles such as the Hummer that ultimately have no utility in a world where resources are becoming more and more scarce. Recently, the Big Three traveled on private jets to Washington D.C., in order to beg for loose taxpayer money without any accountability or transparency attached. Now, the Big Three have returned to our nation’s capital to beg for money, but this time they arrived to Washington by hybrid car and with promises to make fuel-efficient or environmentally friendly cars. However, the Big Three have spent big money to lobby against the environment by lobbying against improved Corporate Average Fuel Economy (CAFE) standards. The Big Three’s leadership is clearly out of touch and has been out of touch. As a result, a condition on receiving any kind of bailout, or loan if you prefer, should be major restructuring—starting with the resignation of the Big Three’s leadership.

On the Net:
Special Detroit Free Press Editorial: Invest in America

Image Found Here
Image Found Here

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