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Originally Posted by Mitt Romney
The American auto industry is vital to our national interest as an employer and as a hub for manufacturing. A managed bankruptcy may be the only path to the fundamental restructuring the industry needs. It would permit the companies to shed excess labor, pension and real estate costs. The federal government should provide guarantees for post-bankruptcy financing and assure car buyers that their warranties are not at risk.
In a managed bankruptcy, the federal government would propel newly competitive and viable automakers, rather than seal their fate with a bailout check.
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i knew i liked him and this is what i want to see happen. Giving a bail out doesnt help anything. Allowing them to cut costs and making sure the public knows that their warranties are still active and viable is the Best option.
Im to the point were Wagoner could go, the only person from the Top executives i would like to make sure stays would be Lutz, other then that i have no real attachments.