Monday, May 18, 2009

More Government at the worst time ...

Bloomberg.com is reporting today that President Obama is going to announce stricter standards for fuel efficiency for American automobiles. This is, of course, not what we need as the automotive industry struggles to maintain relevance in a global economy. These higher fuel standards will make the Big (little?) Three even less competitive against the likes of Honda and Toyota. Of course, all of this is lost on the those who's mission is to protect the environment (no matter the cost).

According to the article, Fritz Henderson, the new CEO of GM, is scheduled to appear with Obama to make the announcement. Do we really feel like Henderson backs this decision? The other question is that do we really think Henderson is going to question his new boss? GM has said it will stick with the Chevy Volt, even if it loses money. That kinda sounds like what got us here in the first place. But, with bankruptcy imminent, what is a couple (hundred) billion of tax payer money to subsidize an electric car?

Fritz, don't forget to smile tomorrow.

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