Bob Lutz Seems to Have Learned Doublespeak From George Orwell. Failure is Success, Says Lutz.

Implications: On what basis do OEM American carmakers deserve federal loan guarantees? Is it because their legacy costs weren't their own fault? Is it because they made lower quality vehicles than their foreign competitors? Is it because they sent American jobs overseas so that the unemployed workers they created could no longer afford to buy their overpriced cars? Is it because they use the money they earn overseas to fund further expansion overseas and thus move closer to no longer being American companies at all? Is it because they continue to employ and pay high salaries to legacy managers who have proven themselves completely inept and have cumulatively lost more than 100 billion dollars in just the last five year? It is for all of the above and many more reasons that the OEM American car companies must be allowed to go it on their own.

Analysis: If the financial markets think that GM, Ford, and Chrysler are on 'the right track" to profitability then those markets will lend those companies the money they need to retool their factories to produce the new cars that they have designed within their restructured organizations. The collateral will not need to be the good faith and credit of the taxpayers of the United States; it will need to be the belief by the financial institutions that they can make a profit by investing in the GM, Ford, and Chrysler of today.

Why not let the markets decide?

May i suggest that in order to build this trust in their future that all of the car companies restructure their current management by dismissing them and seeking to recruit new leaders not only in America but from those nations and companies that are right now producing vehicles profitably within the USA without any subsidies or loan guarantees from the US treasury.

Toyota
Honda
Nissan
Hyundai, and
Daimler

would be good places to start recruiting.

We all know that the above companies are already bidding for all or some of the assets of GM, Ford, and Chrysler that those companies themselves can no longer manage or make a profit from. Why is that if the American carmakers deserve loan guarantees?

FAILURE IS FAILURE, MR. LUTZ, AND I DO NOT WANT TO HAVE POLITICIANS IN OFFICE WHO GIVE MY MONEY TO FAILURES EVEN THOSE WHO CALL FAILURE SUCCESS.