Tuesday, December 30, 2008
Sunday, December 28, 2008
From the initial $25 billion last month, officials are now contending with a $34 billion bailout. These auto companies are losing money hand over fist and it is worrying that their cash requirements ballooned in the space of a month. I believe a turnaround for this industry without consolidation and painful reforms is unthinkable. Charity from taxpayers will result in more of the hat-in-hand circus.