Bail out Big Three Carmakers?

Author: 

As Glendale attorney Bruce Ehrlich filled up his gas tank in Los Angeles last week, he told me he wasn't happy about the prospect of a multibillion-dollar bailout of the U.S. auto industry. But he understood the need for some taxpayer aid.

"It would be hugely catastrophic if Detroit went under," said Ehrlich, 60. "Some level of assistance would be helpful."

Then he climbed into his German-made Porsche and roared off.

It's a tricky business, this latest bailout. Many of us are deeply concerned that millions of workers would lose their jobs if General Motors, Ford and/or Chrysler collapsed.

Yet many of us contributed indirectly to the automakers' financial woes by choosing "foreign" vehicles -- a choice influenced by a perception, warranted or not, that Japanese and European cars are better than their American counterparts.

Read the full article at The LA Times

Date published: Nov 16, 2008

RSS

Syndicate content