Sep 10, 2007
Ford, GM and Chrysler say they are losing money.
It’s called Bankruptcy B.S. at contract time.
The auto business goes in cycles. Stacked up against the few supposedly bad years are many good years. Even if the companies can claim to lose money for a couple years, they made tons during the 12 years before that.
Ford reported 10 good years, Chrysler had 11 and GM had all 12 years profitable. Over 12 years time, the three companies rolled up over 133 billion dollars in profits.
We have no reason to give up a dime to these big thieves rolling in wealth.