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Comment by qmr | Hacker News Reader

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qmr·

I absolutely despise this "too big to fail" bullshit from banks and car manufacturers.

LET THEM FAIL.

Adam Smith rolling over in his grave.

> Adrian Mardell, received approximately $4.5 million for the year ending March 2024.

Oh look I found some expenses to cut.

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I'm divided, a lot of people internally and from suppliers depend on them for work. Equally they are majority owned by an indian company (Tata) now that also mandated they use their useless in-group IT outsourcer whose secrity appears to be pretty lax. In the end I'd say the govt should make the condition for a loan that they dilute out much of the equity holders / share out the loss - in order for them to step in and prevent a total loss, and so the taxpayer gets some longer term contingent benefit.

What work? From what I’m seeing, they’re not producing any cars, not selling any cars, and not keeping any of their shit secure.

The Landrover side is clearly doing work, even if the Jaguar part was doing poorly before this. There are a lot of suppliers also that end up having to furlough if their main client shuts down. And there are second order effects on local economies when that happens, and therefore on HMRC. And you also don't want to lose engineering skills that might be needed for e.g. military crossgrades/upscales. Ultimately its better to have that continue than not, but I also believe the consequences should be significant on the mismanaging equity holders, esp. Tata, and potentially beneficial for taxpayers longer term, which reduces the moral hazard aspect for a better overall solution.

If nanny state keep bailing comapnies out, how will they learn to stand on their own two feet? /s

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