What a businessman, turned poltician, knows that leftards like Dirty Harry Reid and Mrs. Pelosi don’t, on what needs be done to fix Detroit, via Ace [1]:
First, their huge disadvantage in costs relative to foreign brands must be eliminated. That means new labor agreements to align pay and benefits to match those of workers at competitors like BMW, Honda, Nissan and Toyota. Furthermore, retiree benefits must be reduced so that the total burden per auto for domestic makers is not higher than that of foreign producers.
It costs the Deroit three circa two thousand dollars more to produce car than it does her Japanese rivals. Detroit can not compete with such disadvantage in cost structure. Until, and unless, the cost structure is remedied, any bail-out of Detroit is only a waste of our tax dollars. Tell Drity Harry, Mrs. Pelosi and BO no to anymore good tax dollars down a bad drain.