The North American auto industry is collapsing, it seems as though no amount of propping up is going to help it re-claim its former glory. People will keep making cars here in Canada and the US, but on a much smaller scale. The big three are pleading with the public and the government to save them from disaster. Many people’s jobs and investments hang in the balance. Maybe this stems from a simple twist in accountability that’s crippling us:
Within any corporation, those with the most responsibility have the least to loose in bankruptcy.
Sure sure, loosing 100 million dollars is monetarily more than 10000 dollars, but if you’ve only got 10k- loosing everything is far more devastating than a billionaire loosing a fraction of his wealth. Even if say Richard Branson were to lose 99% of his wealth, he could still live out his days in luxury, never having to work a single day. If i lost 99% i’d be homeless.
Sadly this is what always seems to happen. A company goes bankrupt, who gets paid of first? Creditors (rich people). Second? Investors and upper management (rich people). Last? Workers and pensioners. . ..The rich don’t actually go bankrupt when their companies go bankrupt. Sure they may go down a few notches, but they’re not going to experience any real suffering like the pensioner who gets shafted, or the young parents who loose their jobs. If the rich actually needed to give a shit about running a business properly, this wouldn’t be happening.
CEO’s are pleading for help, and we’re forced to listen because we’re the only ones who actually stand to loose something. Open your own goddamn pockets you wealthy bastards! The public is tired of shelling out corporate welfare because somebody’s great great nephew is too inbred and pampered to understand rudimentary concepts like market demand.