On the Auto Bailout…
[The auto companies] should go out of business, and something new (and competitive) should rise from the ashes. If that means that autoworkers can’t make the same wages, I’m sorry. If it means that people who thought they had pensions now don’t, I’m sorry. (That’s happening to a lot of people…)
But there will always be a huge need for pickup trucks in the US. And if a company can be formed that can build and sell pickup trucks at a profit, those factories will be humming. There will be jobs for guys who can weld, put on wheels, and install engines. There will be a need for millions of batteries and mufflers.
But it may not say “G.M.” on the door. Go out to the airport. There are no “TWA” or “Braniff” signs anymore.
Originally posted as a comment by Dick Carlson on A VC using Disqus.
With just over a month left in the current administration, it may make sense to provide the automakers with enough of a bridge to help them make it through until we’ve got new policymakers in place, but I think Dick’s points are still very valid.
