Bankruptcy may be good for the Detroit Three

Miami Herald by Terry Jackson | Nov. 18, 2008 (Opinion)

We should let General Motors go bankrupt. Ford and Chrysler as well, if it comes to that.

Yes, we've heard all the arguments about how many jobs are at stake, both at the Detroit Three and its many suppliers. Also, how this may adversely affect millions of retirees. If you dissect this issue with your heart, it's hard to not give GM and the other two Detroit manufacturers billions of dollars so they can continue doing business as usual. And they ... Full Story »

Posted by Dale Penn

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Subjects: Business, U.S., World
Topics: U.S. Economy, Global Economy
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Posted by: Posted by Dale Penn - Nov 18, 2008 - 8:05 AM PST
Reviewed by: Dale Penn (review), Kaizar Campwala (review), Derek Hawkins (review)
Edit Lock: This story can be edited
Edited by: Kaizar Campwala - Nov 18, 2008 - 12:29 PM PST
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4.0
 by Derek Hawkins - Nov. 18, 2008

The author makes a convincing case against bailing out the Detroit Three, arguing that bankruptcy is the only conclusion fit for these under-performing car companies. His knowledge of the vagaries of the automotive industry is evident, and his points here are insightful. But he deliberately avoids the one component of this debate that I find needs the most attention -- the fate of the workers. Does he really believe some sort of severance should be worked out in bankruptcy court? ... More »

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3.8
 by Kaizar Campwala - Nov. 18, 2008

Pretty good opinion piece tracing what they author thinks were missed chances on the part of GM. One important question the author doesn't answer is why the Japanese saw value in the small car market when GM didn't.

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4.3
 by Dale Penn - Nov. 18, 2008
Dale posted this story.
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