| $25 Billion Salvage Plan for the Big 3 Auto Companies
By Cartoon: Gary McCoy of Cagle Cartoons
Project: Cynthia Kirkeby
Nov 27, 2008, 13:02 PST
|© Gary McCoy of Cagle Cartoons 2008|
$25 Billion Salvage Plan for the Big 3 Auto Companies
GM, Ford, and Chrysler have gone to Washington to ask for $25 Billion (yes billion with a capital B) in loans to rescue their companies, and approximately one million related jobs. At the same time, their top executives arrived in Washington on private jets, and when asked if they were willing to give up their jets or their multi-million dollar paychecks, the executives unanimously declined.
Questions to Ponder
- Is a $25 million dollar auto company bailout a needed step, or is it simply time for the dinosaurs of the industry to make room for a new round of auto makers?
- Years ago it was unthinkable for TWA (TransWorld Airlines) and PanAm to go out of business, but when they did, they made room for upstarts such as Southwest Airlines, and Jet Blue. Are we at a similar turning point for the auto industry?
- Is the artificial propping up of the big three automotive companies, actually holding back the industry and keeping more cost efficient and furl efficient cars off the market?
- Are there any small US auto makers who are posed to move into more prominent market positions, one or more of the Big Three went out of business?
Learning Links for the $25 Billion Automotive Bailout
Obama backs Congress' decision to delay auto bailout
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