eternitus

Bail Out Capitalism, Not Detroit

By the way $73.20 per hour is a bit more than a decent wage ($150k per year). Can't you make due in Detroit with $100k per year per worker?

Bail Out Capitalism, Not Detroit

Here, here. Time to stop wasting money propping up broken industries and start stimulating what works and will provide some return on investment... Tax cut and infrastructure spending plan!

GM Bailout Would Be Agony for Taxpayers

That's about right. GM is an awful bastion of value destruction.

Should We Really Bail Out the Big Three Automakers with $73.20 Per Hour Labor?

My thoughts exactly. Unlike with the financials, where one large company's failure, if left unchecked, can bring down the whole system, completely destroy all our access to credit, and ruin our lives for a generation, GM's failure will simply eliminate a poorly-run, noncompetitive company that overpays its employees. Even healthy companies with good management are destroyed in a financial panic as confidence evaporates... not true with the auto industry.