President elect Obama has taken his first anti-commercial act. The act is both morally and socially disgraceful.
I call this anti-commercial act the Nummi moral outrage. Nummi is the plant in Fremont that I fly over nearly every time I go flying in the East Bay. Nummi is a plant jointly owned by General Motors and Toyota that produces cars and trucks for both companies.
President elect Obama is asking for a bailout for the Detroit big three
that are puppet corporations run largely by the auto unions and which
deserve to be in bankruptcy. Their cars aren't selling. The strong
healthy American automobile companies are mostly in the South and are
owned by Toyota, Honda, Nissan, Mercedes-Daimler and VW. The
successful American auto companies are not going to be part of the
Obama bailout.
Simple: bailouts are for auto industry failures in the same country where the government ignores the successful corporations in the same field.
Then there is Nummi, part failure part success. Is Nummi going to get a bailout for the part of the factory that produces failed autos?