09 April 2009

A Private Sector Bailout for Detroit

Last year, GM lost $30.9 billion.

Exxon made $45.2 billion.

The solution to Detroit's woes seem obvious to me: Exxon buys GM and simply begins a give away program, getting the money back at the pumps. It's like giving away razors in order to sell the replacement blades. If people weren't driving cars, Exxon would have trouble making money. They need the auto industry. Why not simply buy it in order to keep it safe?

Besides, Exxon's profits were more than Google's and Microsoft's combined. If they can't make the auto industry profitable, maybe it's time we tried biking.

2 comments:

Anonymous said...

You might love Jackie Mason's viewpoint on bailing our GM. I think this guy is brilliant!

http://www.youtube.com/watch?v=Nl_48676ioQ

wheelsonthebus said...

that last sentence? priceless.