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posts about #quadranglegroup more →
Jay Penske: The Hard-Partying Si Newhouse Wannabe of Bel Air
The Failures of Obama's Auto Bailout Adviser


06/23/09
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02/24/09
02/24/09
However, there is nothing that a "Car Czar" is going to be able to do to save that ailing auto industry. Labor has priced themselves out of the market and management is too weak in the face of UAW to stop them.
You can't pay $70 per worker with benefits and remain competitive, but that's backward looking. The problem with giving the auto makers more money to "keep people employed" is that you are going to pay the workers to make cars that no one is buying or to stand around and do nothing. That is not employment. It's welfare.
Save the tax scratch on the Czar and let the auto makers go bankrupt. That will free them from their ridiculously cost prohibitive contracts and prevent us from having another bureaucrat with a pre-revolutionary Russian title.
02/24/09
02/24/09