Magnus Itland (itlandm) wrote,
Magnus Itland

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More from the automotive debate

Obviously my source material here is right of center - that's where the money is, not counting your tax money. So with that warning, a few recent articles on the topic.

Auto Bailout: Seeking Signs of Sacrifice (BusinessWeek) Politicians opposed to selective aid for the auto industry feel that there is a gap between the desperate plea and the non-desperate business as usual in the industry. They also feel that the problem would disapper if workers had the same conditions as in Toyota's American factories.

GOP to Detroit: Drop Dead (BusinessWeek) It is hardly news that the Republicans are skeptical of government intervention, but it seems the matter has become thoroughly partisan. It makes me wonder if this is the Democrats saying "thank you" to auto worker unions for helping them win the election. Or conversely, Republicans saying "**** you" for the same reason. Or both of the above.

Bailout for automakers? St. Louis bankers say no (St.Louis Business Journal) -Let us hope these are not the same bankers that are wailing for handouts from the government... Not all banks are, contrary to popular belief. In any case, the memorable but exaggerated quote, “Detroit has become one big HMO that happens to make cars on the side.” That is obviously exaggerated, but you may be headed that way. And not only "you" as in Americans:

Pass the plate (The Economist): If America injects large amounts of capital in its car industry, so will the EU, to maintain the status quo, even if their car industry does not need it yet. They don't mention Japan, Korea, and China. I am confident that these will act to protect their interests though.
Tags: economy
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