President Obama is recommending that Americans "buy American cars," but he will certainly have a hard time convincing union school teachers to buy U.S. brand cars. Teachers have been avoiding American cars like the proverbial swine flu in lieu of purchasing Japanese cars made in Marysville,East Liberty and other Ohio locations which are some of the few Ohio companies that are above water.
Now, if these Ohio Honda, Volvo, and other car plants are overly dissed by Obama as he strengthens tariffs in order to make "our" GM/Chrysler cars more profitable, Ohio and the rest of the U.S. could lose tens of thousands of Honda jobs. I buy Ford, but the loss of Honda would be a loss to Ohioans, especially after having so many Ford and GM/Chrysler layoffs in the works.
The auto unions have won again, thanks to their unanimous support for Obama, but, not for long. It is hard to believe that an Obamobile can be built by a company run by the union. If union members want a raise in pay or benefits, will the union stockholders discourage unaffordable union-demanded increases?
Most union members became employees of companies in the first place, because it has never been a union member's motivation to nourish, invest, or manage a company which requires an entirely different skill set. It is much easier to coerce money from your boss than to setup your own company.
President BO and Congress have finally promoted a special bankruptcy for Chrysler where the bondholders, like Oppenheimer Funds, will get the old shaftola (see model above), and will be punished while the union will not need to take as big a hit.
Woe to those Oppenheimer-invested grandmas, grandpas, police and fire employees who can expect to see even more of their portfolio destroyed because of Obama is playing favorites and castigating free enterprise.
I do not agree with Rush who insists that Obama is all to aware as to what he's doing. Obama is way below his presidential pay grade.
Is this a case of not forgiving him for he knows not what he is doing?
* Fiat has been producing some very good smaller cars according to some car reviewers
** According to Automotive News, Chrysler plans to sell up to seven Fiat/Alfa Romeo-designed models in America. Under this scheme, Chrysler dealers would flog the Fiat 500, Alfa MiTo, and Alfa 147 replacement. There'll also be up to four Fiat-based cars in the A, B, C, and D segments. Some American car fans are thrilled at the idea of inexpensive, fuel efficient, fun-to-drive Italian cars -even if the machines in question end up as Dodges built in Mexico to Italian blueprints. But that's exactly what it is: an idea. And a bad one at that.