More Money For the Auto industry

Seems that both the Canadian and American governments are providing of budgeting even more money to the ailing Auto Industry. Specifically for GM and Chrysler.

One columnist at the Globe and Mail estimates that in Canada this budget translates to $1.4M for each saved job. If true (does it consider collateral damage?) that is obscene.

This grandpa says let them fail or survive on their own. If they fail, it may be rough for several years, but the industry will stabilize at new job levels amongst the remaining firms; primarily Ford, Toyota, and Honda.

By the way, why are GM and Chrysler on the brink and asking for handouts, and yet Ford is going it on its own?

(p.s. I do not currently own a car and have rented a lot over the past decade. Usually small “puddle-jumpers” as I called them. What was my favourite little car to rent, based on actual experience? A small Hyundai.)

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