Originally posted by: DealMonkey
Originally posted by: CADkindaGUY
Originally posted by: DealMonkey
Oh, but I suppose corporate entitlements are OK, Cad? Would you defend your main-main Iacocca who had to be bailed out by the U.S. gov't to the tune of $1.5 Billion in the 80s? What about the airlines post-9/11? How many billions did they get? $5 Billion? Up to $18 Billion? Where's the personal responsbility for corporate America?
Have you listened to anything I've said? Was it not me who was pointing out Boeing's sweetheart deals?(dual purpose though
) Yes, corporate welfare needs to be put in check. As with someone else who tried to ASSume my position on Farm subsidies - you are wrong.
OK - say Chrylser hadn't secured 1.2Billion in loan guarantees in 1978-9 - how would you liked to seen the unemployment lines
Remember Iacocca had just been fired from Ford by HenryII in 78, the year that Chysler had just reported its worst earnings ever. He secured funding (and some tax concessions
) and rebuilt that company providing hundreds of thousands of jobs. Yeah - I guess the gov't shouldn't have guarenteed the loan though.
Amok - Yes - you are right on "incentives" not "entitlements" for business
CkG
Good. Just want to make sure we're on the same page
By the way, didn't Iacocca preside over Ford during the whole "Pinto exploding gas tank" fiasco? Shortly after Iacocca became president he almost immediately began a rush program to produce the Pinto. Safety and quality were thrown out the window in order to rush this crapbox to market. For seven years the Ford Motor Company sold cars in which it knew hundreds of people would needlessly burn to death.
Didn't Iacocca also divorce his 2nd wife Peggy Johnson? Family must have been a top priority there.
Leaving Ford and heading over to Chrysler, didn't Iacocca beg the federal government to bail out his company? Yes, he did. Should the government force taxpayers to subsidize a company whose products do not meet the market test? The answer becomes clear: No. Why should taxpayers have to pay to keep a firm in business?
Wow, that's some role-model you got there.