Auto Bailout, Again

I know this isn't really about Alabama or even commercial real estate, but dang, I just had to put my two cents in. I just read that GM and Chrysler are asking for more bailout money. I called it in an earlier blog posts (HERE) and again (HERE). Maybe I'm not such a dumb guy after all.

Anyway, when will it stop. If you have a bad business plan no amount of capital injection will ever solve the problem over a long term. Sure, free money is great! I'd love a million bucks. Anybody... Anybody... But, if I go squander it on bad investments i.e. expensive boats, cars, and other crap - you pick your poison - I will soon run out. The same is true for a business. I'm not saying that GM or Chrysler are spending money on junk like boats and cars, but they clearly need to revamp their plan. I mean, I may not be such a dumb guy (see first paragraph), but I'm no genius either, but if you spend more than you make, there is no profit. If there is not profit, you may want to change something to make a profit, right?

I also remember a Chinese proverb that I once thought was in the Bible... "Give a man a fish and you feed him for a day. Teach a man to fish and you feed him for a lifetime."