| Re: Auto Bailout
Well, I believe poorly-run companies should be allowed to fail. The problem is, like other people have mentioned, is that the auto industry is SO big that it would send serious shockwaves through the country.
So, if the government is to bail them out there are a few things that they would need to do, in my opinion.
First, they would need to fire all the upper management. They need to demonstrate that if you are going to run a company into the ground, there are consequences. We're not just going to let you ruin the company, then bail you out and act like nothing ever happened.
Personally, I believe they should have done this with the finance industry also.
Secondly, they need to take all the labor contracts and shred them. They need to explain to the labor unions: Either you take a pay cut or the company folds and you're out of a job.
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