Monday, December 08, 2008

If Chapter 11 Is Good Enough For The Tribune Company, Why Is It Not OK For The Big Three Automakers?

In welcome news on the Dinosaur, Drive-By, Mainstream, Obama-Worshiping Media front, the Tribune company, owners of the Chicago Tribune and the local Los Angeles Times, has filed for Chapter 11 bankruptcy protection.
It is welcome news because it will make this media behemoth have to actually decide whether to produce products that people want or continue to have newspapers that are propaganda rags for the Democrat party and television networks that produce woeful programming at best.
This is upon other DDBMSOWM news that the parent company of The New York Times is getting a line of credit against their home base building in New York City.
My first thought is why is Chapter 11 bankruptcy protection A-OK for a media conglomerate but not for the Big Three American car makers? I mean, does anyone think that jobs will not be lost? Newspapers sold or even folded? A broadcast network eliminated?
Of course all of that will happen.
Somehow, we are being convinced by a trifecta of the CEOs of the Big Three auto makers, the UAW and Democrats in congress that is one or all three of these auto makers do what the Tribune company did today, that will end the auto industry in the United States.
No, it will not end the auto industry, but make these companies restructure an antiquated business model. Without the the bankruptcy protection and a so-called bailout, all this will do is delay the inevitable.
Note, that Chrysler begged for government assistance, it was given and 28 years later, they are back at the government trough again.
What is good for the Tribune company is good enough for Chrysler, Ford and General Motors.


friedmsw said...

I have heard that "one out of every five jobs" is connected to the auto industry. Apparently, the "rationale" for the bailout is suppose to be "to save the economy". Makes absolutely no sense!

DoorHold said...

"Note, that Chrysler begged for government assistance, it was given and 28 years later, they are back at the government trough again."

The seems pretty irrelevant. Twenty-eight YEARS later? Since when does government think that far ahead? Or any business for that matter? Are you saying, "Well, three decades from now we'll just be bailing them out again?"

I do not see one city newspaper being comparable to The Big Three automakers in any way. Even if banktruptcy somehow wound up closing down the Tribune entirely, the loss would barely be noticeable (Chicago has lost other newspapers in the past). It would certainly be less noticeable than the nationwide (worldwide, actually) shakeup that a bankruptcy restructuring of GM would entail.