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Simple answers to Complex Questions and Complex Answers to Simple Questions. In real life, I'm a Greater-Toronto (Canada) Realtor with RE/MAX Hallmark Realty Ltd, Brokerage. I first joined RE/MAX in 1983 and was first Registered to Trade in Real Estate in Ontario in 1974. Formerly known as "Two-Finger Ramblings of a Forensic Acuitant turned Community Synthesizer"

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Sunday, December 14, 2008

Pieces of 8 - Costs of auto bailout & benefits

Published on the Ensign Webcast

Sun, Dec 14, 2008 at 9:58 AM
To: torstar lettertoed@thestar.ca

Re Cost of auto industry aid could exceed any benefit

Dear Ed I. Torstar,

Instead of bailing out the auto companies with $2 Billion, bailout the workers.

In this (or any case) divide the proposed bailout sum into 'eighth's' and spread the 1/8th's around.

Give the 30,000 auto workers 3/8th's -in 3 equal installmants - on Day 1 after their EI runs out, Day 91 after EI runs out and Day 121 after EI - they'll appreciate it much more as "insurance, down the line" and won't be tempted to blow it as a windfall.

Give another 2/8th's to the say, 30,000 employees of the Detroit Three direct suppliers and their suppliers in two installments Day 61 and Day 121- they'll have to transition to different industries too (let's hope none of those companies had 'all their eggs in one basket)

Finally give another 1/8th to the say, 60,000 employees of spin off firms and service providers in the towns and cities that will be affected by the temporary or permanent closure of an auto plant, or an auto supply plant.

So 120,000 individuals and their families are sharing 6/8ths of the $2,000,000,000 and the companies get nothing.

The weakest plants close, the strongest re-organize and re-open.

One or a few divisions are merged, 2 or 3 of the companies merge either before or after a bankruptcy.

Specialization develops - all 3 firms need no longer produce competing vehicles in all categories.

The workers will want to return to the dignity of work and will re-apply for jobs of their former superiors.

This upward cascade of re-vitalized workers will spew out fat cats and laggards on all levels of the operation, creating a purge of the most satisfying nature and results - Employees excited about their new broadened responsibilities who are glad to be working at something they love to do.

By the way this method also saves 2/8ths of the money that would have been paid by the old regime to its friends' high-interest bonds or severance packages and forces the companies to take the opportunity to trim, cut and re-fit or they'll all die and no one will be able to blame the government for inaction.

-- rce


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