No, no, no, no, no, no, no, no. I’m going to say no because every time any human being mentions a bailout, they talk about one thing that worked, and that is for those of us old enough to remember Chrysler and Lee Iacocca. Lee Iacocca stepped forward one day and in 1979 Chrysler was dead. It was basically going out of business and he knew it. He stepped in to take over for the company and he went to the federal government and he said, I want to borrow some money and he came up with a complete plan.

Once again, this guy was a genius and I’m going to come back to him in this video a couple of times, but he had a plan and the plan was for success to turn the company around and it revolutionized all of our lives. I want to give you an example. He borrowed a billion and a half dollars. He had a plan and basically he was paying it back in 10 years. So what he did was he took pay cuts, he went to all the auto workers and told them to take pay cuts.

Wow, can you believe that? These people worked for less, but I want to revolutionize and get a better product out there for the consumer. So he comes up with a program to go out and develop new cars. Remember the K car? Let me tell you why the K car was just a sedan, but what it was, was it was something that Henry Ford would freak out over and it was a revolutionary way to use the same chassis for multiple cars. And you can sit there and say, oh, that’s what Ford did.

No, it was completely different. Had to change everything to do the assembly line. This made it so that you could have one car manufacture everything. Wait a second. Let me give you some examples. So go back to spirit for a second before I go back to Chrysler and the success of that spirit airlines during COVID, they got over a billion dollars from us, a billion dollars. They got 744 and a half million dollars in PPP loans and did well with it. Paid their employees who cares, who cares? It was a joke. But the airlines initially got $50 billion.

Did not revolutionize anything, did not fix anything, did not change anything during that time. So they get $50 billion. What did they do during COVID? Hey, we need an extra 15 billion to survive. No new plan, no fixing, no nothing. They just got money from us. Now, the delays, they increased. They got worse. Ticketing got worse. Roots got cut. They didn’t innovate. They didn’t come up with anything new. They just basically clipped us, took advantage of us and basically laughed at it. So with that, everybody talks a good game when it comes to bailouts.

And the problem with it is that it’s not going to fix anything. Look at 2008. Look at the banks in 2008, Bank of America, Citibank, all these people that got free money from us that basically did nothing. Some paid it back, few, but they didn’t give it to the clients. They didn’t lend it to us. They didn’t make it so that business got better during this time. It just basically went out and took money and took advantage of each and every one of us. It was ridiculous. That’s what Spirit is doing right now.

We’ve had this happen over history, throughout history. And I want to give you some examples of this. Penn Central, remember the railroads were going to get fixed. They still went back. I don’t think Spirit Airlines is going to survive. Spirit Airlines wanted to merge with JetBlue. And now, because they lost the merger, they’re going to file bankruptcy. Who cares? Good. Go bankrupt. You can blame the Biden administration for that. They said that it was going to be an anti-competition area for airlines, which is who cares? Who cares about this? How about a better airline? Again, Lee Iacocca innovates.

I got so much more on that guy. In 2008, we had one of these bailouts. General Motors came with the same song and dance with hat in hand to the federal government acting like they were going to be Lee Iacocca. They didn’t do anything. They have a crappy product. There’s recall after recall. Ford is the worst auto company I think that ever lived. And again, Henry Ford should be freaking out right now, rolling and twisting in his grave after the quality of that. I get notified about different recalls day after day after day with Ford.

But General Motors got all this money. They went bankrupt. They sold some things off and got to keep the money. Barely paid us back for that. So, you know, $89 billion bailout is what they got. Think about Lee Iacocca is a billion and a half dollars that people freaked out over. General Motors got $89 billion. They still went through bankruptcy. Government took ownership stakes in the company. But who cares? Taxpayers lost money on General Motors. So, you know, it wasn’t like the 1979 deal. Everybody says General Motors did what Lee Iacocca did.

No, they didn’t. It’s not the same thing. And the idea to compare Spirit Airlines. I mean, have you ever flown in an airline? I had the chance to fly here to Las Vegas to this show on that stupid airline and it would have been a disaster because it’s a horrible airline. But there’s a lot more to cover on this. Let’s talk about our sponsor, Noble Gold Investments. You know, right now we are seeing gold and silver come back fast over the last couple of weeks. We just had Wells Fargo issue a report.

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Contact them today. 877-646-5347. Contact them today. So let’s continue with this. First things first, CIT Company took money. Penn Central took money. Still went out of business. Still went out of business. Nobody sits there and talks about that. You can still go through all the different companies that were bailed out that got COVID money and didn’t survive. You know, these are basically grants for these companies. Nobody went to jail for this. Nobody had the accountability and nothing happened. Now we’re supposed to sit down and write a check for billions of dollars to save them.

It’s insanity. Stupid. Okay. Now, let me remind you guys a couple things about Lee Iacocca. Lee Iacocca, I don’t care if you like the guy or hated the guy. What the guy did was absolutely brilliant. Number one, he took that K car and J car theme and built the minivan. He invented the minivan, which sells billions of dollars with the cars every year and did not exist. They basically took a van and stuck it on a sedan chassis and made a complete industry out of this. Which is wild. I didn’t know that.

That was news to me. So I’m like, oh, that’s innovation. He also invented Jeep, the current Jeep company that made Jeep go from, you know, a topless vehicle that you could sit there and ride in the sand to a vehicle. And Jeep did the same thing where they made all these different renegades and all the different commanders, all these different cars that were good, decent cars. My ex-wife drove multiple Jeeps because they could store all the tile and they were very rugged vehicles. But again, Lee Iacocca. Again, guys like this, I wish they were alive because they’d have, never say, they have an opinion on things like this.

But again, we all get political with stuff like this and oh, I hate the guys politics. Again, nobody, nobody cares who the guy voted for. They really don’t. What happened was he went to everybody and said, you need to have accountability to make this work. If you are not going to take less money right now, we’re not going to survive. Now I borrows the money for 10 years, pays it back in three, brought the company back profitability in three years. Three years Chrysler was profitable. Paid back $350 million of that money. Hey, listen, here’s the bonus to the feds of $350 million.

That’s how you do it. That’s how this is done. But you’re supposed to give good old Spirit Airlines billions of dollars pass. They screwed us during COVID. The airlines are a den of thieves. I think the airlines are worse than the banking industry because the banks, you know, at least try to do certain things to give us better loans, give us better, better benefits, things like that. Airlines are just screwed, late, awful, terrible. You know, so let me know what you think in front of the DGI booth of them. Vegas is off, guys.

It’s definitely slower than normal. This is an event that I have done. It’s my fourth year now coming here. And it’s definitely off. So let me know what you think about this. Do we write Spirit Airlines a check? What do you think about that? Or how about if they let them merge with somebody else to survive, fire all those executives, name one innovative thing that Spirit Airlines or any airline has come up with lately, because, you know, United, American, Delta, they all got all that money. Spirit got a billion dollars. So that $65 billion and did nothing to innovate.

So let me know, guys. This is, I mean, it infuriates me when I talk about stuff like this. And let us all know. Okay. Like, subscribe. Definitely we have the private channel. I allegedly live at a meeting I’m racing to right now. So, okay. Let me know. Let me know what you think about this, because I think it’s awful. I think it’s a complete waste of money. Hello, and I allegedly got promised an email address. [tr:trw].

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