Do we let the Big Three fail?
Schadenfreude and faith in the market makes me want to see them fail- any company that is so incredibly ignorant of future market developments deserves to fail. That’s how the market works- if you suck, you don’t get to exist anymore. They sucked. They fought tooth and nail against fuel efficiency standards- investing millions of dollars in lobbying and litigation. Now their lineup of cars simply can’t compete with the foreign imports that have this uncanny ability to get 30mpg. The alternative is giving them another loan- but is there anything to suggest that this $30 billion (or whatever number) will somehow allow them to change their whole company’s focus from behemoths to fuel-sippers? I don’t think so- so let them file under Chapter 11.
Sorry. Was watching the NewsHour during dinner and got worked up. Any other opinions?