Bush said the automakers have faced serious challenges for many years: burdensome costs, a shrinking share of the market and plunging profits. "In recent months, the global financial crisis has made these challenges even more severe," he said. (Yahoo Article)
I love only half the story! Why is it that the news (any news source) only reports one side of the story? What we really need are some new integrity laws for the news organizations. Like those in England... Yes, like most people, I like reading news that supports my own views... but there is only so much cotton candy you can eat before you have had enough.
The US car companies are not making profits because they are not offering products that most Americans want to buy! It does not matter how much something cost. It only matters that it is desired and that the public see a value in the product. Shrinking shares means that more customer desire and see more value in your competitors product. (higher fuel economy, better durability, and better service) Maybe it is time that our car companies take a survey of what is selling and make more of that product... and less of things that are not selling... This is basic business. How many SUVs have to set on the lot before you stop making them? How high does gas prices have to go before you make a 80+ MPG hybrid? They have the technology and have had it for years... Their sells figures should tell them what people are buying and what they are not buying!
Are these low gas prices fooling anyone? We and the gas oil companies have seen that we will, even if we do not like it, pay $4 and $5 per gallon for fuel... It will be there again and sooner than you think.
So ask yourself this: the next car you pick... what are you looking for in it? That is the question the car companies should be asking. The car companies have been giving the oil companies what they want for years... (oil companies recorded the highest profits of any us companies and the car companies can not pay their debts?) I think the oil companies should bail them out not the people... after all that is who has been calling the shots in the car industries for years.