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 »

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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? This seems to me to demand more justification.

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