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AUTOMAKERS' CRISIS * USA - Points of View: Auto industry is much more than ' Big Three'
Note to Congress: While you debate whether to save the auto industry, remember there is far more than just the "big three" to consider
Tucson, AZ,USA -Letters from the Tucson Citizen , by Rodger Malcolm Mitchell (Wilmette, Ill) -26 Nov 2008: --
* From the Automotive Aftermarket Suppliers Association: "The automotive aftermarket, employs approximately 3.7 million Americans. Sales in this industry exceed $250 billion."
* From the Heavy Duty Manufacturers Association: "The trucking industry hauls 70 percent of total U.S. freight. About 70 percent of U.S. communities depend solely on trucking for the delivery of goods. The trucking industry employs more than 9 million Americans nationwide."
* From the Original Equipment Suppliers Association: "The new vehicle parts market is worth approximately $300 billion a year."
Now tell me again why you and your party are willing to accept blame for allowing the American auto industry and our entire economy to fail... Congress, you have unlimited money available to you. Spend it and stop dithering us into a depression...
* Big 3 bailout is really a union bailout
Tucson, AZ,USA -Letter from the Tucson Citizen , by Mark Kalinowski (New York,NY) -26 Nov 2008: -- Barack Obama, Nancy Pelosi, and several other leading Democratic politicians continue to agitate for "spreading the wealth" by giving tens of billions of dollars to GM, Ford, and Chrysler... Why? Case Western Reserve University professor Susan Helper gives the game away: "Even if GM is not providing a return on investment, it is still providing a lot of good jobs"... In other words, any bailout of these poorly managed auto companies is at core a bailout for economically unproductive union jobs. Principled politicians will be against such corporate and union welfare... GM, Ford, and Chrysler should not be prevented from declaring bankruptcy. Bankruptcy would allow their burdensome union contracts to be renegotiated and also permit better-managed companies to bid on their assets so that they can be put to use much more efficiently... This would lead to better returns on investment and the creation of economically productive jobs...
Labels: automakers' crisis
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