Detroit must be driven by narcisstic research. They are pitching solutions that only make sense in the mid west. Where is the deal that makes sense to more than 50% of the country? Who are they polling? Automotive consultants should be advising their clients to offer a deal that a GOP senator can sell to constituents in the South. Where is the solution that makes sense in the East and the Financial sector? Where is the solution that makes sense in the West and the Technology sector?
Democrats are largely populist and pro union and jobs. They can be counted on to support a bailout. Southern congressman are largely against it. Their manufacturing jobs are more dominated by foreign OEs and they tend to be philosophically against this type of government intervention. A deal requires probably requires picking off a few Republicans in the West. What makes sense in Detroit is irrelevant. If it does not make sense to someone that does not work in the auto industry, it won’t pass. If the premise for the argument is, “my industry is more important than yours”, it will not pass. If their value proposition for this bailout continues to be worse than their value proposition for their cars, they will deservedly fail as ongoing economic entities.
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