The latest and greatest links on the looming bailout of Detroit:
- Allan Sloan asks "What is an American Car?"
- NYT's Dealbook says they are shedding their corporate jets after the DC debacle.
- Matt Slaughter's op-ed (WSJ) sees an insourced auto industry that retreats from its "5.3 million Americans" on payroll with $364 billion in compensation.
- FORTUNE's Alex Taylor III asks hard questions about GM's future, and notes the shortcoming in Wagoner's recent efforts.
- Compensation comparison chart (via Carpe Diem and RCM)
- Kevin Hassett observes the politics and paybacks of wealthy auto workers.
- And, best for last, a smart solution from Harvard's Professor Ed Glaeser ...
"Should we be using tax dollars to keep workers from heading to more productive companies? It would have been madness a century ago to tax Henry Ford and Ransom Olds to prop up the declining horse-and-buggy industry.
"Moreover, the car companies may well quickly burn through another $25 billion of public aid and be back for more. The Big Three have hefty obligations to their workers and dealers that seem too large relative to their ability to sell cars. Surely these companies need to shed countless dealers and product lines before, not after, they receive public largesse."
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