Is bailing out the automobile industry really the right thing to do? I know there are thousands if not millions of people whose livelihoods are tied to the industry but are we just setting ourselves up for a worse mess in a few years time? Here is a thought provoking article by the New York Times foreign affairs columnist and Pulitzer Prize winner, Thomas Friedman
someone in the mobility business in Denmark and Tel Aviv is already developing a real-world alternative to Detroit’s business model. I don’t know if this alternative to gasoline-powered cars will work, but I do know that it can be done — and Detroit isn’t doing it. And therefore it will be done, and eventually, I bet, it will be done profitably. And when it is, our bailout of Detroit will be remembered as the equivalent of pouring billions of dollars of taxpayer money into the mail-order-catalogue business on the eve of the birth of eBay.