21 November 2008

Car Dealers Plead for Handout

Having worked on poverty issues for the past several years and living far, far below the poverty line myself, am increasingly incensed by the cries for "bailout!" from corporate CEOs and people who are so, so much better off.

Canada's 3,500 car dealers are at risk from the financial crisis and are asking Ottawa to help out despite a record year of sales.

The Canadian Automobile Dealers Association told a news conference Friday that Canada's auto sector needs aid to survive, and that the credit crunch is even starting to impact dealers across the country.

"The cold reality facing decision makers today is if Canadian-based manufacturers are not provided a bridge across the current economic crisis, then Canada's 3,500 small business dealers will bear the brunt of that downturn," said president Richard Gauthier.

The federal government is considering providing financial aid to the Canadian subsidiaries of the Detroit Three car makers, General Motors, Ford and Chrysler, and possibly auto parts companies.

My response to these people?

NO. This is the business you chose. You get to reap the benefits in good times and suffer the consequences in bad.

Spent all those profits? Didn't invest wisely?


Governments, through their non-action, have been sending this same message to Canada's poor, time immemorial. So how about the auto industry facing the same reality?

Do NOT ask taxpayers to bail you out.

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