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Paul Killinger's
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If I had to bet, I would say the unions still have enough clout within the Democratic party to get them to do something for Detroit. So they will get some version of their so-called bridge loan.
Nov 28 09:27 am
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All Comments by Paul Killinger »Saab May Be GM's Best Hope for the Future [View article]
The question is what happens then? Fresh cash is most likely only going to delay their day of reckoning. Those same unions (and management) make it virtually impossible for Detroit to innovate its way out of its present financial stupor.
It took more than 30 years of global competition, government mandates and over-regulation to get the domestic auto industry to where they now find themselves. There are no redos in the cards and no reversing the clock.
Only the freedom that comes with invoking bankruptcy can possibly save them. And that's the last thing any of their sponsors want. As one of the commentators on CNBC recently opined, Washington is populated by two groups, wolves and fools. Neither can save them now.