A recent announcement by Ford Motor Co. says that it plans to end 30,000 jobs over the next few years to revive its sagging fortunes.That follows in the wake of a similar announcement by GM last week.Parts suppliers like Delphi, Visteon,Lear,Collins &Aikman are already in bankruptcy proceedings.The news from the marketplace is one of a series of disasters for the Big Three.Market shares are eroding and no new ideas to revive the sagging fortunes are around the corner.
In this environment, Bill Ford, the CEO of Ford, has floated the idea of a federal bailout like Chrysler’s several years ago.With a so called Conservative administration in power, he knows his chances of getting such a bailout through Congress are minimal.To make an end run around this block, Ford has found a new ally.He wants to beat up on gays with the help of the mad Reverend Dobson!That would establish his bona fides with this insane crowd and help his bailout plan succeed.
The signs of desperation are everywhere in the domestic auto industry.Our domestic auto makers are simply unable to compete in the marketplace.I am no longer sure that there will be a domestic auto industry in the next decade.The death of the steel industry and the impending death of the auto industry will complete the Deindustrialization of America.
