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As you may be following that the American auto industry (
GM,
Ford and
Chrysler) is asking the
US Government to bail them out with a $33 to $15 billion (not million but billion) loan. The Legislative body and the Executive body are currently scrutinizing the three companies and their bad practices. Today the
President Elect Barack Obama stated that the
CEO of GM should step down and Chrysler should be merged. I don't have an
MBA or have any high level business acumen but I do read the papers and see that the big three pay around $70/hr on average to auto worker since the auto workers are part of an auto labor union. I also saw recently that
GM cancelled their multi-million dollar endorsement deal with Tiger Woods. I don't know that an endorsement deal with an uber-good athlete is not a good marketing strategy. What I do know is a decent understanding of
NFL football? The brain power behind Ford is also managing the
Detroit Lions who still haven't won a game this year (0-13 to be precise).
Henry Ford, the founder of Ford, must be rolling his grave (figuratively) to see his lineage not able to manage this creation. The Ford family's poor understanding of business, which is evident by Ford companies desire for taxpayer money, and having one of the worst NFL franchises in the last two decades. This worst franchise had one of the best running backs ever and they still kept loosing. People like
Wayne Fontes and
Matt Millen exemplify the astute business moves of the Ford family. Couple of years ago Matt Millen got an extension deal who was hired as their President, and General Manger (GM) with no GM experience. Matt Millen is probably one of the worst ever GMs in the history of NFL. He drafted poorly for the Lions picks in almost every draft he was involved. The biggest problem with the Lions is that they have never had a franchise quarterback. They need to hire a person like
Bill Parcells to fix their problems but as you can see they haven't. These type of moves exemplify the Ford family. Therefore the bailout package must include that the Ford family sell the Detroit Lions and give their
Thanksgiving game back to the league. For the last number of years, I have felt sick overeating on the turkey and watching the Lions loose. Then again the world isn't that bad. Could you imagine if
Al Davis was running Ford, GM or Chrysler? Yikes!
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