Detroit Auto Makers Need More Than a Bailout

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This is an opinion item.

Author(s) Paul Ingrassia
Source The Wall Street Journal
Date November 10, 2008
URL http://sec.online.wsj.com/article/SB122628230122212449.html
Quote
Quotes-start.png "In return for any direct government aid, the board and the management should go. Shareholders should lose their paltry remaining equity. And a government-appointed receiver -- someone hard-nosed and nonpolitical -- should have broad power to revamp GM with a viable business plan and return it to a private operation as soon as possible. That will mean tearing up existing contracts with unions, dealers and suppliers, closing some operations and selling others, and downsizing the company." Quotes-end.png


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This item takes a mixed stance on the position United States should bail out the automobile industry on the topic Economic crisis of 2008.