Bailing out Detroit
Should Ford, Chrysler and General Motors be bailed out with taxpayer money or allowed to suffer the consequences of bad management and uncompetitive products? Could federal aid force them to change their ways and save millions of jobs?
The Bush White House and Senate Republicans say there are better ways to spend taxpayer-bailout money. Many insist that bad management and inferior products are to blame, and argue that a bailout will only postpone the inevitable.
Directly and indirectly, the Big Three employ millions of people who buy goods and pay billions in taxes. Should they be washed down the drain? Could a bailout be used to force innovation, rewrite union contracts and clean out executive suites? "To the Point" talks to industry insiders.
Guests:
– Daniel Howes: Business Columnist, "Detroit News"
– Kenneth Elias: Partner, Maryann Keller and Associates
– Mark Brenner: Director, Labor Notes
– Aaron Robinson: Technical Editor," Car and Driver" magazine
Hosted by award-winning journalist Warren Olney, "To the Point" presents informative and thought-provoking discussion of major news stories — front-page issues that attract a savvy and serious news audience.