Donnerstag, Oktober 12, 2006

Here We Go Again...

Well, it looks like the Germans are going to do the best possible thing with other people's monies: the German government is buying into Airbus.

This is, of course, to force a comittment to a continuing German stake in the manufacturing of Airbus planes. Closing down Hamburg is no longer in the works.

But this is a terrible move otherwise.


Because it just means that good money is being thrown after bad. Not satisfied with state guarantees - no, let me rephrase that: unable to operate profitably without state guarantees - Airbus will now have a major shareholder whose pockets are extremely deep.

Those of their taxpayers.

The German government has no business, as far as I am concerned, being involved in Airbus. If Airbus can't make it on its own - and don't tell me it can't in the face of competition: it did until the idiots in charge put the company at risk for their oh-so-proud plans to completely dominate the market, instead of merely being competitive - then it deserves to fail, as hard as that is on those involved.

Has anyone even thought about what this means in terms of the ongoing dispute between Airbus and Boeing, or rather between the EU and the US in terms of governments trying to manipulate market competitiveness?

We don't know all the details: all I know is from this that they are going to be buying a significant stock package.

But not because it's a good investment and will help widows and single moms with kids.

Instead, it's out of desperation.

Keine Kommentare: