What's Good for GM is...

[GM's 7 to 10.8 mpg Hummer H2]

We are told that bad things will happen to America if the Big 3 automakers go bankrupt. But what happened to America when they were making money?

Americans not getting killed in auto accidents is good for America. The auto companies fought mandatory seat belts. The automakers fought and won against mandatory airbags.

Americans not breathing polluted air is good for America. The auto companies fought emission controls. At one point they denied the technology existed to meet the proposed standards and that it would take take years and cost billions to develop it. Even while they were testifying to this under oath before Congress, Volvo was actually marketing vehicles that met the standards. When informed of this they simply repeated themselves. How could they get away with such crap? John Dingel (Dem - Dearborn) was chairman of the committee.

Even now, cars meeting the ULEV (ultra-low emission vehicle) standards are being sold by BMW, Toyota, Nissan, Honda, Volvo, and Mitsubishi. I found no mention of any GM, Ford, or Chrysler car which meets the standard.

Americans not importing vast quantities of petroleum is good for America. The Big 3 fought the CAFE fuel economy rules for years until they found the SUV loophole and drove their entire industry through it. In effect there are now no CAFE fuel economy standards. Part of our current disaster is compounded by our buying so much foreign oil that the deficits are driving down the value of the dollar.

Americans not being fleeced of their money by exploiting insecurity about their manliness is good for America. Detroit continues to market ever bigger, ever more expensive, and ever more unnecessary pickup trucks with commercials about toughness and strength.

Now they have stooped to blaming union wages for the insolvency of their companies. While they themselves take millions each from companies they control. Their arrival in Washington in private jets was not an oversight. It was who they are, what their culture is.

The function of bankruptcy is to transfer assets from those who have not been productive with them to others who may use them more productively.

The fact is that for a number of reasons, reasons of character and reasons of culture, the managements of the Big 3 auto companies are not very good at their jobs. Their assets should be transferred via bankruptcy to folks who are better at it than they are.