Skip O'Neill – Liberty for All

Ron Paul for A New Direction

Auto Bailout

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Here is what should happen; the big three auto companies should file Chapter 11.   As part of the process, the auto makers renegotiate their legacy retiree benefits, all current worker agreements (including the executives), and then either restructure the unions or disband them altogether.  The federal government should relax or remove the ability for the automakers to import their own cars (that they sell in Europe) to America.   These cars are very popular in Europe and are not allowed in the U.S.   In addition, the gov’t should recapitalize the newly formed versions of the auto makers with foreign equity investment.  Think of this, if Toyota owned half of the newly slimmed down Ford, there wouldn’t be an issue regarding the survivability of Ford, which would supposedly hamper auto demand from a bankrupt company.

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Written by opinionoregon

December 18, 2008 at 3:40 am

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