This is a hot issue right now and as I am writing this, a decision has still not been made in the US and in Canada as to whether the government will loan the BIG 3 money to stave of bankruptcy and closure. As I read the opinions in various newspapers, it seems the majority are against using tax payer money to help out the big 3. I myself was at odds with them helping because after all, they are a private company, and governments usually don't interfere with private companies. The big 3 have made their beds and in theory, they should now lay in them.

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But in practicality, if they disappear, millions of jobs will also be gone in both countries and with a recession either here or looming, that is bad news. Everyone has their opinions as to why they are in the shape they are in, from greed on the execs behalf, to the unions and their wages, and on to the big 3 building gas guzzlers and vehicles that apparently no one wanted (yet amazingly suvs were hot sellers). Fact is, most of what people are saying is true and should all be lumped together as to the causes of this financial mess.

I'd like to inject my own thoughts on this and place blame directly on the government. It all comes down to the auto pact of yesteryear and the governments that struck it down. The auto pact helped the auto industry in Canada boom and vehicles were being sold cross border tariff free and products were being built in Canada and the US. No more, NAFTA changed all that and suddenly the big 3 were building stuff in Mexico while creating job losses here and abroad. The executives now had a huge cash cow in front of them and greed became an obvious reality. CEO's and the likes were and are still being paid millions in bonuses and such, at the same time complaining that they could not afford to pay the unions wages. And the sad thing is that society now started to turn on the rank and file workers, blaming them for being paid ridiculous wages, yet not even bothering to mention that these $30/hour jobs paled in comparison to the multimillion dollar salaries of the top people running the company. What is even worse, these top players fail constantly, year after year, yet earn bonuses and increased pay.

Just like in the financial sector in the States, epic failures, and even with the bailouts, they are reluctant to give up their fat bonuses and vacations. It is sickening, and odd at the same time, because congress and the like were quick to point out how important it was to bail them out, but they are sitting on their thumbs debating on whether to help out the big 3. I also hear that there may be conditions put in place if they do in fact bail out the auto giants. One being that they will have to scale back on salaries to the execs. I totally agree with that, but why didn't they put that in when they bailed out the banks? The banks screwed up big time and were handed money to go on vacations and pay bonuses and acquire assets. That money was to be used to inject into the economy through loans and such, but they are sitting on it. So i feel that it is a tad unfair that the big 3 are being held to different standards.

Truth be told though, all those that are against this, if you get what you wished for, you will regret it. This just wont affect the line workers, it will be the parts suppliers, the car dealerships, the mom and pop restaurant that you like to take your family to, everything will be affected. It will be a dark day if the governments do not help this industry out, after all, they sure helped put them in this mess to begin with.

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