Big Three get second chance
They wanted it, and they got it. Let’s just hope they’re smart about it. President George Bush on Friday ordered an emergency bailout of the U.S. auto industry.
Chrysler, Ford and General Motors have been offered $17.4 billion in rescue loans to keep the carmakers from folding during our country’s tough economic times, which Bush said poses an imminent danger to the economy.
The Big Three vowed to rebuild their industry, but why should we believe them? We’re talking about the same businesses, after all, that are having to be pulled back from the brink of bankruptcy.
Considering all the people that could use just a little of that money, any waste would truly be a shame.