In April 2008 Forbes, “Big 3 soundly on the list of green automakers“.
“It may not be easy being green, but U.S. automakers no longer have a choice. Hobbled by declining sales, too reliant on gas-guzzling trucks and SUVs for profits, they face a new law mandating a 40 percent increase in U.S. vehicle fuel economy standards by 2020.”–Forbes
But were they?
Eight months later no automaker on the globe is soundly on the list of green automakers. They are all asking their governments for the needle; please take the pain away.
What is the difference between a bailout and a bankruptcy?
In 1979 Chrysler received a $1.2 billion capital injection by the feds, it was called a bankruptcy and restructuring. In 1983 Heritage Corporation wrote the “Chrysler Bailout Bust.” They claim the whole bankruptcy thing was a myth and that federal guarantees to Chrysler were made to help out all the other U.S. automakers. Did they? No. The others dipped while Chrysler tipped and then dipped and dipped and dipped, still dipping…
Former NY Governor Spitzer writes a column at Slate. He has a sweepstakes proposed for the automakers whereby one of them goes away.
Ok. So adding one didn’t work, lets try subtracting one.
Meanwhile back at the Aussie Ranch for green cars,
Holden and Ford may be too poor to develop a green car in Australia, even with government help.
“A $6.2 billion blueprint to develop a greener car industry in Australia will not stop the immediate loss of jobs sacrificed to cheaper labour overseas and the global economic downturn.”–Business Day
Let the companies themselves go where the market wants them to go. Yep history speaks loudly; the market will bear no bull.
Autoworkers in the United States have pledged their pensions and their layoff fund (basically get paid to stay home) to Congress for a bailout. NYTimes writes earlier in December, “Automakers worry More Givebacks in Store.” Comment #1 writes “….These times are akin to the days when Big Steel needed rescuing. In hindsight, it would have been cheaper to let the companies go under and pay the wages of the employees who would have gotten fired.”
What of this ‘big Green job in the sky’ for the displaced autoworkers. What is it?
“Solar voltaic technology was developed in the U.S., but the Germans are ahead in manufacturing commercial products from it. The Spanish are producing the most and best of the very large turbines. And the Chinese are trying to compete in solar panels, so manufacturing is up for grabs.”
The number of green jobs out there is a matter of how liberally one interprets them. “If a truck driver is hauling oil pipeline material one day and solar panels the next, is that a green job?” Pollin asks. (He would say it is.)”–Hot Green Jobs,
Robert Pollin, codirector of the Political Economy Research Institute in Amherst, Mass.