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updated: 12/19/2008 1:34:39 PM
[UPDATED] Butler Dean: "This is The Automakers' 9th Life"
Butler University's College of Business Administration Dean Chuck Williams says this is Detroit's 9th Life. The Dean of Butler University's College of Business Administration says he's surprised by the Bush Administration's decision to bailout General Motors Corp. (NYSE: GM) and Chrysler LLC with $17.4 billion in emergency loans. Chuck Williams believes in the end, "the government decided to postpone the tough decision until late March when the companies are on the hook to show they've made some progress." Williams also thinks it is a mistake to give the companies until the end of 2009 to change work rules and wages for workers. He says they are supposed to stay competitive with the transplant auto manufacturers, including the new Honda plant in Greensburg. Williams doesn't see why that date could not have been the end of March.
Source: Inside INdiana Business
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Williams says there is nothing the government or a judge can do to make Americans want to buy more General Motor or Chrysler vehicles. He says what these loans do are keeps the companies going and gives them yet another opportunity to do something positive for the company.
Source: Inside INdiana Business
