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Should the automakers have gone bankrupt?
2012 Oct 25, 9:25am 1,951 views 8 comments
by CL follow (1)
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CL
@
2012 Oct 25, 10:10am
I believe two of the major ones did....... and we (the taxpayers) got to bail them out....
Sure, but would they have if Wall Street hadn't decimated the Global economy? Should every company prepare for such an eventuality?
CL
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2012 Oct 25, 1:18pm
Sure, but would they have if Wall Street hadn't decimated the Global economy?
What does Wall Street have to do with the way internal management of a corporation is run???
Clueless....
Should every company prepare for such an eventuality?
YES, But they should go bankrupt WITHOUT the bailout of the taxpayers if they can't run the company successfully!!
Wall Street caused a tsunami, wiping out much in its path. Can you imagine how much productivity would be lost if every business had to reserve all that capital? To prepare for a disaster of this magnitude?
CL
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2012 Oct 25, 1:27pm
Sure, but would they have if Wall Street hadn't decimated the Global economy? Should every company prepare for such an eventuality?
Somehow Ford was prepared. So it wasn't as impossible as you are implying.
Why did Mulally ask for the credit lines, and state, “In particular, the collapse of one or both of our domestic competitors would threaten Ford because we have 80 percent overlap in supplier networks and nearly 25 percent of Ford’s top dealers also own GM and Chrysler franchises.â€
http://www.factcheck.org/2011/09/ford-motor-co-does-u-turn-on-bailouts/
and they still haven’t paid it back!
I'd say the myth that Ford was beyond reproach is deserving of a correction.
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Why do we hold them to account? Although they had severe structural problems before restructuring, and in that sense it was overdue, but what were they expected to do? Were they supposed to have enough capital on hand to survive a near deflationary spiral/depression? What would it do to the economy and businesses large and small if businesses were required to prepare for such a disaster?