Hammer Time: A Whorific Ending

by Steven Lang

Updated: May 16th, 2014 Published: May 19th, 2009

One hundred billion dollars. Small change? Not even for Bill Gates. For $100 billion you could give 400,000 students an Ivy League education. If we’re talking about a quality state education, we’re looking at closer to two million graduates. That’s absolutely massive. Amazing . . . and think of our long-term GDP growth? Now consider our current spending on Detroit Inc.

For all that money. All that purchasing power that should never be “printed” in the first place. We’re supporting a failed business model and prolonging our recession for years to come. The Best and Brightest realize that certain companies no longer make competitive products. But instead of encouraging them to pursue their legal remedies, we are forced to throw money at them. Why? Well unfortunately squealing pigs attract fellow swine. The swindlers always file Chapter 11 in the end anyhow. But this time out they receive the spending restraints and full support of our modern day politicians.

Does this need to happen? Hell no! This isn’t about a worthy cause. Unless you count bankruptcy lawyer fees, financing second-rate cars to second-rate buyers, paying the unions to make four wheeled money pits, and awarding golden parachutes to those already with the gold. Everything money wise is being done with the sole exception of building great product to benefit those who simply don’t have the intelligence to do it. Some of you may believe that a new and better company will come out of it all. I don’t.

I know when a company’s culture offers little more than stinking fish. I’ve seen it for years. The dealer auctions (you’re not invited) will be holding hundreds of thousands of these products, and the loss amounts will be staggering. The auctions alone will need to buy and build lots from several miles away just to simply hold it all. You’ll end up paying for that too. You won’t get anything in the end but the bill. Who should you thank?

Steven Lang

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Dynamic88 on May 20, 2009
Dynamic88, most of what I write under Hammer Time that appears to be ‘political’ originates from what I actually see at the auctions and the retail market. With respect Mr. Lang - For all that money. All that purchasing power that should never be “printed” in the first place. We’re supporting a failed business model and prolonging our recession for years to come. - is not something you see at auctions. It's your personal opinion. I'm not going to argue opinions with you, I'm just pointing out that this "episode" of HT didn't really have much to do with used car auctions. HT is is far and away my favorite feature of TTAC. You are of course entitled to your opinion that the bailout is a waste of money, and your further opinion that the recession is being prolonged by the bailout - but it's not as if we don't already get that several times a day here on TTAC. HT is like a breath of fresh air - focusing on the reality of the used car market.

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Juniper on May 20, 2009

I agree with Dynamic88 This should be in editorials so we can ignore it. Please bring back the real Hammer Time. (without fake handguns) But I do appreciate the picture. of the car too.

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