Bailout Watch 428: Hit Me Baby One More Time
I’m not using the poker definition of the word “hit” here—despite the obvious metaphor of GM drawing on 20 in a game of 21. (Three decades ago.) I’m speaking here in the Britney Spears sense of the phrase. Well, actually, it’s not me. It’s none other than House Majority Leader Nancy Pelosi. According to The Detroit News, Nance told reporters today that she supports a strong manufacturing sector. “But this isn’t endless,” she said. “And there has to be a sign of viability and it has to come soon.” Spears fans will recognize Ms. Pelosi’s cry for a pistonhead portent as an echo of Ms. Spears lachrymose lament. So, what sign of viability does the D.C. politician want; you know, as GM has already submitted its official viability Powerpoint presentation? If she’s looking for some kind of sales turnaround, well, uh, anyway . . . “The White House’s top auto advisers will travel to Detroit next week to meet with all three domestic carmakers, Obama administration and auto industry sources said Thursday.” Huh?
The sources, who discussed the meetings on condition of anonymity, said [Presidential Task Force Members] Steve Rattner and Ronald Bloom will be in Detroit on Monday. Though their schedule remains unclear, they likely will meet with top executives of Ford Motor Co., Chrysler LLC and General Motors Corp. The companies are also expected to show off some of the advanced technology that is part of their restructuring plans.
Ha! A cart and pony show starring the Chevy Volt, Chrysler Envi vapor vehicles and some small Euro-Ford or limited edition hybrid somethingorother.
Actually, substitute “oy” for “ha.” For those who wish to see the end of Bailout Nation’s support for Zombie Detroit, it’s clear that the pols’ pandering is a set-up for more bailout bucks. In case you missed it (some of you people just about missed it):
“I don’t think it comes as a surprise to many that the auto industry is in crisis,” White House press secretary Robert Gibbs said Thursday, noting that sales figures released this week showed a severe downturn not just for GM and Chrysler, but for foreign companies as well.
Reiterating a commitment President Barack Obama has made several times, Gibbs said, “I don’t think there’s any doubt we need a strong auto industry in this country.”
Add “vey” to “oy” and we’re done. As if.
More by Robert Farago
Comments
Join the conversation
"Between garbage cars, mental midget managers, too broad a product line, redneck trucks, parasites called the UAW, and the fact Americans have woke to to the fact American cars suck, pretty well puts an end to the fiasco." Gee whiz, do I feel silly. All this time I thought the economy had a little something do do with it.
"Gee whiz, do I feel silly. All this time I thought the economy had a little something do do with it." All auto companies are feeling the pinch (or crush if it's GM), but the other manufacturers are not bloated, outdated and cash strapped as good ole' GM. You are seeing Darwinism is action here, and GM is not fit to survive.