Saving General Motors
Would bankruptcy be better for struggling automakers than a bailout?
The only way to save General Motors is to let it go bankrupt, said Michael E. Levine in The Wall Street Journal. It has too many dealerships and too many brands to survive, and if the government keeps it on life support it "won't change fast enough."
We all share the blame for the SUV-era, said Jeffrey D. Sachs in The Washington Post. So punishing the auto industry by letting it crumble is pointless, especially since it could "destroy the U.S. economy in the process." Instead, "we should fix the industry with a sense of national responsibility and purpose."
It's ludicrous to suggest that GM, Ford, and Chrysler are poised for a turnaround "if only we keep them afloat a while longer," said John Hinderaker in Power Line. The companies are losing so much money they're essentially worthless. The only thing that will be saved if the government steps in will be the United Auto Workers, "otherwise slated for extinction."
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Create an account with the same email registered to your subscription to unlock access.
-
What is cloud seeding and did it cause Dubai's severe rainfall?
The Explainer The future is flooded
By Devika Rao, The Week US Published
-
American Airlines pilots are warning of a 'significant spike' in safety issues
In the Spotlight The pilot's union listed 'problematic trends' they say are affecting the airline's fleet
By Justin Klawans, The Week US Published
-
6 star-spangled presidential libraries to visit
The Week Recommends These institutions provide insight into American leaders
By Catherine Garcia, The Week US Published