GM and Chrysler Come In For Repairs

General Motors, that stalwart of American industry, has filed for Chapter 11 bankruptcy. Chrysler, already in that situation, is selling itself to Italian automaker Fiat. Guess all that money from the government couldn't keep them from delaying the inevitable.

Both companies will be getting rid of a few things to become solvent once more: executives, dealers, brands, factories, and whatever cachet they once had with the average car buyer. Oh wait, they lost that a long time ago.

It's no big secret that the Detroit-based automakers were headed in this direction. With so many people out of work, few could afford new wheels. Those who could found the quality of the product wanting, compared to the ones coming from Japan, Germany and elsewhere. Aren't those SUVs supposed to be out of style as oil gets more expensive, and the climate is turning warmer?

Actually, there have been attempts by Washington to mandate fuel efficiency standards, and to develop cars that run on alternative sources. But the lobbyists kept stalling and stalling until the mandates were rendered meaningless. All we have to show for it are hybrids, ethanol, and "Drill, Baby, Drill".

Thanks to generous union contracts, factory workers were well-taken care of both on the production lines and in retirement. Now the remaining workers are going to earn something close to minimum wage with a substantial reduction of benefits--just like the rest of us.

GM, Chrysler, and even Ford, have a long way to go before they become relevant again in the eyes of Wall Street and Main Street. They've got to. In order to justify the ownership stake We the People now hold in these companies, the least they can do is to build a car worth driving.