:> True, but even so, why should the government be cosigning loans for
:> businesses which are such poor credit risks that they can't otherwise
:> for those loans?
: Because at no cost (in fact at a profit) to the tax payer it preserved a
: 100,000+ good paying jobs....At the time Chrysler had a very short term
: temporary problem.
: Had the government not cosigned the loans, Chrysler would
:> have gone bankrupt. Perhaps that would have prompted GM and Ford to
:> that they could or would be next if they didn't change their ways, and
:> building what America buys.
:> Doug Miller (alphageek at milmac dot com)
: That is just plain silly......GM and Ford have sold a lot of cars, obviously
: more than anybody else world wide in the years following the loan......From
: parts to chassi they have to compete world wide with much lower wages(often
: at rates well below a living wage here)...in fact even quality issues are
: impacted as one can afford fewer hours on quality control and/or
: detail.....Incidently GM sells more cars in China than anyone else (built in
But thirty years after the loan, they still don't build cars that
are anywhere as good as Toyota, Honda, and Nissan do.
So Doug's point remains.
-- Andy Barss