A GM essay worth reading

As a follow up to the series of commentaries I’ve posted here, building on this post from the other day, there has been so much news about the second round of hearings over the auto industry crisis and the desired bailout… it’s too frustrating to me to try to cover it. The blackmail of the taxpayer, to the

Big Three CEOs Flew Private Jets to Plead for Public Funds

In case there was any question about how flat footed the auto industry is in gauging public sentiment and portraying itself in ways that build sympathy, well, here’s a reminder… Big Three CEOs Flew Private Jets to Plead for Public Funds via Marc Ambinder

George Will on the auto industry bailout

As a follow up to the series of commentaries I’ve posted here, builidng on this post from the other day, the below is George Will commenting on the impending bailout. Six decades later, a rescue without bankruptcy will make those four entities wards of government. Doing so would make the five entities including Washington collaborators

Tom Evslin on the auto industry bailout

Ignore for a moment the fact that Detroit may not have a design ready to satisfy the following plan. Ignore also the time it would take to retool their plants. What appeals about this idea is the combination of aid to the auto industry that is coupled to a more innovative agenda than simply enabling

Robert Reich: The Real Difference Between Bankruptcy and Bailout

While I am on the topic of the auto industry, bailouts, this gem from Robert Reich: When a big company that gets into trouble is more valuable living than dead, there used to be a well-established legal process for reorganizing it – called chapter 11 of the bankruptcy code. Under it, creditors took some losses,