Disclaimer: I’m not much of a financial guy. I barely keep up with the news. I don’t know a lot about the inner workings of the auto industry. Please don’t hate me because of my ignorance.
I was thoroughly pissed off most of the morning yesterday as I watched the “Big Three” auto makers go before the U.S. Senate Committee and beg for money. I don’t really care that they ask, plead, beg or grovel. I was just flabbergasted at their reasonings for why they should get the “free” money (yes, I know it’s a loan). Things like “we’re committed to innovation and the future of the auto industry” and “we’re committed to fiscal responsibility” just struck a nerve in me. Aren’t these things that should have been addressed years, even decades ago?
The crazy thing is, if my little web business was in danger of going under tomorrow for the same or similar reasons as Ford, Chrysler or GM, would the government come and bail me out? Course not. It would be chalked up as a statistic of failed small businesses. “That’s just the way business goes sometimes” or “That’s the risk of doing business” is more likely what I would hear. Yet “we’re” considering bailing out three companies that could very well have taken steps to avoid this disaster long ago.
What’s more IF Chrysler, for instance, gets the $7 billion they’re asking for, how much of that is going to go to guys like my buddy who owns a Dodge dealership to help him stay afloat? My gut tells me nada. I could be wrong. In fact, I hope I am. But I can’t imagine, based on what we saw with the bank bailouts, that I am.
What does this have to do with Porsche? To me, Porsche is the polar opposite of what the “Big 3” are. They’re being financially responsible. Their move with VW turned out to be a great strategy. And they are working hard to match supply with demand while still keeping an eye on innovation and the future. All without a government bailout.
I have to say, it’s a pretty cool time to love Porsche…both the cars AND the company.
I thought this was an interesting article written by an import car dealer: http://www.contracostatimes.com/opinion/ci_11096143