Remember the old adage about fools whistling in the dark? Robert Farago at The Truth About Cars points to a steller example of that phenomena in the auto industry among Michigan dealers. And Ronnie Schreiber has a new blog, Motor City Motorobilia, that looks quite interesting.
And The Wall Street Journal points to the Treasury's decision to aid GMAC as another illustration of why it's never fair or even prudent for government to pick winners and losers in the market. To wit:
"The messy little policy issue is that these GM products compete with those sold by Ford, Toyota, Honda and numerous other car makers that won't benefit from GMAC's cash infusion. And with the cost of financing often crucial to buyer decisions, the feds have now put the muscle of the state behind one company's products.
"Ford in particular must wonder what it did to deserve this slap. CEO Alan Mulally joined the GM and Chrysler chiefs in testifying for the bailout even while insisting his company didn't want the funds. And once the bailout was announced, Mr. Mulally said that 'All of us at Ford appreciate the prudent step the Administration has taken to address the near-term liquidity issues of GM and Chrysler.' So much for gratitude."
Makes me want to go buy a new F-150. Well, almost. Maybe a Focus Hybrid?