The auto industry (specifically GM and Chrysler) is looking for at least 25
billion in aid from the government because their stock has lost most of its
value, and with the credit crunch, companies can't get money to retool, and
people are having difficulty financing new cars.  A lot of it is Detroit's
fault for having invested so heavily in large SUV's over the years.  When
gas prices hit around $4.00 a gallon, sales of SUV's plumeted.  There are
several large auto plants that are closing.  I heard of one in Ohio
yesterday that will close on December 22nd that made the Chevy Tahoe and
Suburban.  Here are a couple of websites:

http://www.washingtonpost.com/wp-dyn/content/article/2008/11/18/AR2008111802260.html?hpid=sec-business

http://www.nytimes.com/2008/11/20/business/20auto.html?hp


http://www.bloomberg.com/apps/news?pid=20601087&sid=a1JNoT8ilnKk&refer=home



On Wed, Nov 19, 2008 at 3:56 PM, Anthony Arnold
<[log in to unmask]>wrote:

> Friends,
>
> This morning I went over to work out, and one of the physical therapists
> (who I call a friend) was asking me my feelings about the auto bailout, and
> I was embarrassed to tell her that I haven't studied the issue to form a
> opinion. Can I have somebody here educate me on this, and why did it get to
> this point?
>
> Thanks,
> Anthony Arnold
> Prentke Romich Company
> 1-800-262-1984 ext. 494
> www.anthonyarnold.net
> Proud Member of Speak Share
>
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-- 


Kendall

An unreasonable man (but my wife says that's redundant!)

The reasonable man adapts himself to the world; the unreasonable one
persists in trying to adapt the world to himself. Therefore, all progress
depends on the unreasonable man.

-George Bernard Shaw 1856-1950

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