Tuesday, November 11, 2008

Bailing out the auto industry

Since the election of Barack Obama on Tuesday, November 4, and the election of Democratic majorities in both the U.S. Senate and House of Representatives, the media has been talking about House Speaker Nancy Pelosi's plans to meet with representatives of America's Big 3 automobile companies and the unions that represent the auto workers. There have been hints that she wants to craft a bailout plan for the Big 3 car industries. See the following links:

Market Watch story.

Financial Times story.

Reuters story.

Guardian.uk story.

Detroit News Story.

Pelosi has said that conditions of the bailout should include a commitment on the part of the automobile industry to design and manufacture fuel efficient cars. But will that be enough to combat global climate change and prepare the nation for a world in which there is inevitably less energy and what is available is increasingly expensive? We doubt that at Car-Free Talk.

Today, Amy Goodman, on Democracy Now!, interviewed a guest who responded to the plans for a bailout of the auto industry by calling for a transportation plan and a 'game changer.' We agree. You can read the transcript by copying and pasting this URL into your search engine:


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