Before I begin talking about the American Auto Industry, I need to say I am sad they need bankruptcy protection.
Why? Labor costs, pension plans, medical costs, bad strategy, bad marketing, lack of foresight. I mean how many Cadillac Cimarrons are out there right now as classic cars? Oh wait, you mean the Chevy Cavalier with wide whites and wire rim wheel covers and Iron Duke 4-bangers. Yes, those POSs. And why has Ford had "Build Bigger trucks" as their business plan for ever? They are lumbering giants of bumbling companies who make bad decisions. They are nor responsive to market demands. They are more like Refrigerator Perry running the ball, rather than Barry Sanders--go in one direction and not be able to change speeds or directions well. Strictly vertical management schemes. Peer review is unknown there. and bonuses are given to the most failed management. They are used to it. and broke because of it.
and worse yet, we need them. It may cost $50 billion to bail them out, but over $250 billion if they fail. and up to 2,000,000 lost jobs. Kaiser, Willys, American Motors didi not have enough capital to keep up.
The whole industry needs to be retooled. I wish I was smart enough to know how. Yes, you need trucks, you need profit, you need industry, you need electric cars, you need flex fule, you need hybrids (and I looked at a Malibu hybrid--got all of 30 mpg, big whoop). How do we make the bailout and then remake the companies. The executives who drove it in to the ground certainly can't (proving how stupid they are asking for bailouts in corporate jets).