Heinous

http://www.freep.com/article/20081204/BUSINESS01/81204058/1118/RSS

Even with an auto industry bailout economists predict at LEAST 90,000 jobs lost in Michigan. If the auto industry is already that bad off I don't see a bailout helping them. Their CEO's proved they are woefully unaware of the concerns of the current American public. While foreign automakers began experimenting with new technology (with success), creating smaller more fuel efficient cars the US automakers pumped out the Hummer and other large SUV's. During times when fuel costs were causing concern the American auto manufacturer's missed the mark.

They took private jets to a congressional hearing asking for money for their companies a week or so ago. If that doesn't scream of a disconnect with the American public, their values, and concerns, I don't know what does. Granted they took hybrids this time around it just screams publicity stunt.

From what I have read, allowing the auto industry (or at least 2 of the big 3) to go bankrupt will be devastating to Michigan's economy. But bailing them out will cause great harm to the national economy for far longer. I vote no bailout.


edit: I found this map that breaks down auto industry jobs by state. Thought it was neat.

http://money.cnn.com/news/specials/storysupplement/stateautoworkers/index.html