April 4, 2009
There are too many intricacies to the auto bailout, and it is moving way too quickly, to adventure an opinion.
But I will say I am ecstatic they have decided to act separately on the two companies and put Chrysler in the tighter spot.
GM was staging a remarkable turnaround when the crisis hit, and their new models are best-in-class. Plus the Volt has a good chance of succeeding.
Chrysler on the other hand couldn’t find their way. They don’t have a single well-designed model except for the 300M.
December 14, 2008
As if they weren’t out of favor enough, the GOP continues to shrink its base.
They opposed a Detroit auto bailout in a last ditch effort to weaken the unions. In the process they’ve alienated voters in Indiana, Ohio and other midwestern states that they would need to get back in the White House.
Such a useless exercise too: Surely they must have known Bush would blink. How could he afford to let Detroit fail and unemployment go to 10%? That would have singlehandedly solidified his record as the worst president ever. No discussion necessary.
Wait there’s more: When the foreign manufacturers get hit (and they will soon), they will get bailed out by their respective governments, but not without first trimming away some of the excess capacity…. in Tennessee, Mississippi, Louisiana, etc. So who will come to the rescue of these non-union, unprotected, Southern white working folk? Obama, who else.
It’s already looking like Republicans will be defending red territory again in ’12.
UPDATE 12/15/08: News today that a second Republican is not running for re-election on ’10, this one from Michigan. Hmmm, I wonder what might have changed his mind.