IT'S JUST A LOAN

11/10/08

Chevron has a great series of TV commercials. They’re all about new technology, clean energy, toddlers on the lawn, while a soft, thoughtful voice-over explains how much Chevron cares about America’s future. They remind me of the tobacco industry spots that warns young people of the evils of smoking.

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Meanwhile, the auto industry is out of money. Michigan Governor Jennifer Granholm made a pitch on Today for the big three – GM, Ford, and Chrysler – who apparently will run out of cash some time next year. If they do, and if the industry fails, that would mean a loss of 3 to 5 million jobs, which of course would be a catastrophe.

She didn’t say exactly how much money they need, but I think $10 billion is what they have in mind. Not a whole new $10 billion (they’re not crazy!), just a $10 billion slice of that $700 billion bank bailout pie the congress has already approved. And it’s just a loan, you understand. They’re gonna pay it right back.

I don’t know much about the auto industry – or any industry – but I can see that their downfall would be our downfall. And even though I believe in accountability, for right now I don’t think it is useful to haggle over whose fault it is. That can be done later. I know there are people who will resent bailing out yet another industry, but for right now I thing they should just get the money . . . I just don’t think they should get it from us.

Lucky for them, there’s another source out there that’s a much better fit. It’s got all the bucks with none of the resentment. Chevron! C’mon! In the last year, they had more profits than anyone in the history of profits. They are literally swimming in money. Besides, America needs the auto industry, the auto industry needs Chevron, and Chevron cares about America's future. This is a match made in heaven.

Wouldn’t it be nice if someone got us off the hook for a change?