Actually Romney is quite savey when it comes to business and understands the auto industry quite well. He has years of experience with the auto industry and business in general. What he says makes total sense and I fear is the only way the BIG 3 will survive. I would recommend to the UAW that they come to the table fast(like tomorrow) with concessions or they can kiss their butts good buy. From everything I am hearing on FOX, CNBC and Bloomberg there is not going to be a substantial bail out for the unions, I mean Big 3
And with the 10 to 12 Billion GM would have gotten from the 25 bil there is no way that would get them into 2010. They just released that they are going to burn through 5 billion this month alone. I am afraid GM and Chrysler are in extreme dire straights and the outlook is not good. So the unions can step up now and do the right thing or have it crammed down their thoats by the courts, either way the UAW and it's workers future is going to change dramatically.
We need the BIG 3 for reasons that go way beyond just auto makers. The industries that they support, or military needs and the research and development that is shared across other industries is not replaceable. Keeping the Big 3 is much more important than keeping the UAW, so if one has to go I say good riddens to the UAW.