[Spridgets] I like Peter Egan but....

Dean Hedin dlh2001 at comcast.net
Mon Mar 9 21:11:44 MST 2009


I just can't agree with his latest column.
http://www.roadandtrack.com/article.asp?section_id=26&article_id=7716

The way I see it is that the "people who make things" are already hurting due to decreases demand across the
entire auto industry.

So the arguement that GM going into Chapter 11 will cause a cascade of failure of suppliers just does'nt hold.
The suppliers are already hurting.  The suppliers have already laid off a bunch of "people who make things".

The government should have told GM & Chrysler to go pound sand back in December.  Instead of dragging this thing out and
throwing more good money after bad.

It should have then provided conditional low interest loans to Ford (or any other automaker operating a factory in the US that was 
not
asking for a bailout).  The condition being some sort of reward program for rapid re-hiring of displaced auto workers and suppliers.

It was a miracle that Lee Iacoca was able to repay the 1.3 billion loan for the Chrysler bailout.

I just don't see GM ever paying that bailout money back..not ever.



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