Repper

Why Most Americans Don't Mind if the Big Three Fail

A rare, relatively even handed view of what's going on here. Americans do have a warped view of what these companies are now because of everything in their past. Too few of the criticisms I hear about them really hold any water:
1) SUVs were a product of consumer demand. CAFE standards only work if people want to buy small cars. They make every car as efficient as possible while meeting consumre demands (performance, etc).
2) Domestics have fuel economy as good or better than competitors in most if not all segments.
3) Domestic's quality and reliability is as good or better than foriegn competition in most segments.
4) UAW has made some concessions (though perhaps not quite enough)over the past several years.
5) Domestics are mostly ahead of the curve with alternative fuel technologies. (GM just made the mistake of putting their hybrid technology into the trucks they thought people would keep buying rather than having a direct competitor with the prius, but the Volt will leapfrog that.)
It's too bad all the changes they've made and work they've done to become competitive may be for nothing if this whole thing goes bad. And yes, bad for the automakers WILL be bad for the entire country. Yes, they COULD be leaner and more competitive if they shed some of their contractual obligations through chapter 11, but I am one of those that believe a chapter 11 would soon become a chapter 7 due to lack of sales. Those millions of jobs would be hit by that and our fragile economy would surely be in depression.
Also, even if they did stay afloat through a babkruptcy, whatever guaranteed loan(s) that would be needed to get them through a chapter 11 would cost the taxpayers much more than is currently under consideration.
I also believe that if they get some kind of assistance and do somehow make it through the other side of this economic crisis, they can and will be profitable with the changes they have/are making.