What should the government do about the Big 3?
Will giving the Big 3 automakers in Detroit (Ford, GM and Chrysler) $25 billion dollars help turn around the downward spiral they have been in for the past 25 years? Should the government be in the business of bailing them out at all?
To tell you the truth, I haven’t made up my mind about this issue. I was, and remain, against the $700 billion bailout of our financial industry, but the auto industry is so rooted in a specific area of the country. Markets can correct themselves, towns and families cannot.
On the other hand, it is clear that their current business model is inefficient and just doesn’t work. Why is that? Is it because of poor management at the executive level of the companies? Is it because of the UAW (United Auto Workers) union and ...Continue Reading
Tags: auto industry, Detroit, the big 3, The Big Picture





