Bailout Watch 52: Jenkouye!

Great news for all you auto-industry bailout fans! The Ukrainian Journal (what, you don’t have a subscription?) reports that Ukraine’s Industry Ministry and the Ukravtoprom Car Producers Association (acronym unknown) have proposed allocating UAH 3.884 billion ($826m) from the national budget to finance the development of the car industry by 2015. And guess what? It’s not a bailout! The appropriation will simply secure nearly $12b in financing to help its industry adapt in a changing global market. Where in the Hell do they get those crazy ideas? But one crucial point differentiates the Ukrainian loans and the bailout currently being sought by Detroit: the Ukrainian car market isn’t up effluence creek. Just-auto [sub] reports Ukrainian Q1 sales are up a tidy 61 percent over last year. The moral of the story? The government helps those who help themselves. Or Detroit desperately needs to master the art of the bribe. Oh wait…

Warning! Video unsafe for narcoleptics or readers enraged by elevator music

Comments
Join the conversation
 4 comments
  • Robert Farago Robert Farago on Sep 17, 2008

    I wonder what's at the end of that video...

  • Marc_m Marc_m on Sep 18, 2008

    Thank you for the video. That's Ukraine, and it looks just like Bulgaria, Romania, Hungary, etc... the whole mid-and-eastern Europe. The reason why the Big 2.8 are up shit's creek is because they are lazy, incompetent, lazy, stupid, lazy, ignorant, lazy, blind, lazy, arrogant, oh and did I mention lazy?! At some point I've agreed with the bail out, because I was thinking of all the Americans that will loose their jobs. But then I've realized that many have already have done so, and many more will do so, because regardless of what will happen, the Big 2.8 will still outsource most, if not all jobs to countries like Mexico. I feel bad for those who lost (or will loose) their jobs, because allot of those people had faith in their companies, but you know what? No BAILOUT!!!

  • Vvk Vvk on Sep 18, 2008

    Notice how all the utility poles are straight. I wish we had those :)

  • Johnster Johnster on Sep 18, 2008

    It's morning in Ukrainia!

Next