Yesterday we proposed that lawmakers turn the automakers publicity stunt, having the chief executives drive to Capitol Hill, into an economic event with real consequence. We thought we should make it a race!
According to the “Race for the Bailout” idea, the first and second place arrivals on the steps on the Capitol will get bailed out. The third place is a loser, and that company gets zilch.
We came up with the idea when we realised there isn’t really a rational way to decide which automakers should get bailed out. And if you have run out of rational ways of choosing between alternatives, a race for the bailout is as real as anything else.
Admittedly, the drama is appealing. Auto executives literally racing to save their companies. Hard driving executives putting their products to the ultimate test. Shift gears wrong and you might end up sinking your company. This really would be where the rubber met the road.
Well, now they’ve all arrived. Rick Wagoner, whose General Motors is very likely the weakest of the Big 3, arrived first. This guy is serious about getting a bailout. We’re still not sure who got to Capitol Hill second: Ford’s Alan Mulally or Chrysler’s Ralph Nardelli. Our sources say Mulally arrived before Nardelli.