For the first time in the history of the American auto industry it's major players Ford, GM and Chrysler could be doomed.
Today was a pivotable day for the United States Automobile Industry. The top CEO's for Ford Alan Mulally, GM Rick Wagoner, Chrysler Bob Nardelli, along with UAW president Ron Gettelfinger were present bearing revamped reports of how to salvage the American auto industry. All three companies are in dyer straights and in need of serious bailout money. Ford is asking for $9 billion, GM $18 billion, and Chrysler $7 billion for a total of $34 billion dollars!
Wait a minute, a few weeks ago when the Big 3 CEO's arrived in Washington aboard their separate corporate jets, they requested an accumulated bailout totaling $25 billion.
If the Big 3 declair bankrupcy according to Mark Zandi chief economist of Moody's Economy.com it would have catastrophic consequences for the domestic auto manufactures and the American economy.
The American auto industry have been reluctant to adjust to changing times over the past 30-years. They should have made approprate changes years ago.
The auto industry has been the backbone of this great country of ours. Without it America's industrial machine will crumble and millions of people will loose their jobs.
It is amazing how much money America is spending in the middle east conflicts and oil dependents.
To support the war in Iraq and Afghanistan the goverment is spending:
Per Year- $147.6 Billion
Per Month-$12.3 Billion
Per Week- $2.9 Billion
Per Day- $410 Million
Per Hour- $17 Million
Per Second- $4,745
Money spent on foreign oil:
Per Second- $22 Thousand
Per Minute- $1.3 Million
Per Hour- $79 Million
Per Day- $1.9 Day
Per Month- $58 Billion
Per Year- $700 Billion
Do I need to say anymore?
American Oil Companies Need To Step Up!
Considering the major American oil companies made trillions of dollars in profits this past year; Amoco, Arco, Ashland, Chevron, Conoco, Exon/Mobile, Getty, Gulf, Marathon, Pennzoil, Phillips, Shell, Texaco, and Union. Instead of being the bad guys in the black hats, the oil companies could change their bad guys image and become the heros in white hats if they would bailout the American's Big 3 auto makers. Without domestic cars and trucks the oil companies will take a major hit.
"We can't direct thet winds but we can adjust the sails".....
Remember Old Guys Rule!