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  • auto bailout

    Oh Yes They Did

    Big labor apologist EJ Dionne Jr. asserts in the Washington Post today: The failure of the Big Three is regularly attributed to the high wages and benefits earned by members of the United Auto Workers union, and it’s true that the Detroit-based auto companies operate under heavy “legacy costs” for … More

    Auto Bailout Not Inevitable?

    President-elect Barack Obama signaled last week that even if Congress does not bailout Detroit’s Big Three this month, he will push for federal help once he is sworn in. But it appears that at least some Democrats on Capitol Hill are warming to the idea of a much needed bankruptcy … More

    The Bailout Parade: Sock Puppet Edition

    Great little spoof of the auto bailout hearings from the guys over at Reason.tv. It would be funnier if it wasn’t so true: [youtube]http://www.youtube.com/watch?v=aRVRTTMwhK8&eurl=http://reason.tv/video/show/614.html&feature=player_embedded[/youtube]

    SNL Does Auto Bailout Right

    SNL hit a homerun with their opening skit this weekend hitting Congress and the Big Three on the inevitable auto bailout. The best exchange is between Fred Armisen (as Barney Frank) and Will Forte (as GM CEO Chuck Wagoner): Frank: Uh, Mr. Wagoner as I look over your proposal it … More

    The Worst of the Old New Deal Still Part of New New Deal

    According to The Center for American Progress, pointing out that much of FDR’s New Deal only prolonged the Great Depression is just a “favored pasttime of activists on the radical right.” Well someone might want to tell George Mason University economics professor Tyler Cowen that he’s now officially part of … More

    Corporate Progressivism Sets its Sites on the South

    A major reason the Big Three auto makers can’t turn a profit as they are currently organized is due to the generous union contracts they signed years ago. As you can see below, the Big Three are paying about $25 more per hour than their domestic competitors: So what happens … More

    Oh My God, They Admitted It

    Great catch by Brian Faughnan over at Red State. He flags this Barney Frank interview with NPR: But let me ask you about the first thing you said, Congressman, because you said you don’t think $25 billion is enough. Right, I’m trying to explain to you how it works. OK. … More

    Chapter 11 Bankruptcy Was Invented for GM

    Bankruptcy expert and George Mason University School of Law professor Todd Zywicki makes a concise case for why GM must enter bankruptcy before the federal government gets involved: GM (or the others, but I’ll use GM to illustrate the point) presents an unusually good case for Chapter 11 reorganization. GM … More

    Protectionism Promotion

    There are already so many good reasons Congress should deny the Big Three a bailout, but the cost it will inflict on America’s free trade leadership could be the most dire. The Wall Street Journal’s Matt Slaughter writes: Will a U.S.-government bailout go ignored by policy makers abroad? No. A … More

    Morning Bell: The Perpetual Bailout Machine

    Failure is a part of U.S. business culture. That is why Americans feel extremely comfortable buying tickets from bankrupt airlines, electronics from bankrupt retailers, and apartments from bankrupt builders. To paraphrase a popular bumper sticker: bankruptcy happens. Bankruptcy does not have to be the end for any business. Instead bankruptcy, … More