Monday, December 29, 2008
The government seems determined to bailout Detroit. If we ( and yes its not the government but you and I ) bailout the auto industry where does it stop. Yes we bailed out the banks which I also think was a mistake. The autos have dug their own hole. Lack of vision by the executives not understanding where the market was headed in regards to small cars. Too many demands by the unions over the years and legacy costs that the auto makers cannot deal with. Until recently sub-par performance compared to the foreign car makers. The real point is there are too many auto makers. We have several foreign car makers making cars in the U.S. and three domestic makers. That is too many. The market alone should decide who survives. Tell me what you think. Should the auto companies be bailed out ?