“Buy One, Get One Free” - That was the offer last week in the United Kingdom. But the two-for-one sale wasn’t for bags of potato chips or loaves of bread at the supermarket - it was for cars.
U.K. newspaper The Guardian reports car dealers across the country were doing the unthinkable to unload excess inventory. They were selling Dodge Avengers at 2-for-1. The gas-guzzling Avenger, made by Chrysler, has been one of the worst-selling cars in the country where gas will run you $5 a gallon (even with oil at $50 a barrel).
I read the above in a full article here over the weekend and thought it was worth re-posting.
For what it's worth, I'm against the bailout or rescue (or whatever you call it) of the automotive industry. I have some understanding of how complex of a matter letting them fail is -- however, one can't get over the fact that the US auto companies fundamentally suffers from an inability to make cars customers like and will buy. So, no matter how complex the failure of a GM or Chrysler -- the foundational problem is a company that fails its core mission -- its reason for being -- isn't worth saving.
I'd rather see the the monies that are being tossed around be -reinvested into the people that would be laid off. Invest in a special re-training and re-employment programs. Give the employees a longer transition time because the economy isn't going to be able to re-absorb them quickly.
Just my 2 cents from the sidelines.