Sunday, December 14, 2008

Throwing good money after bad?

Detroit Is Broken Down, But Fiat Is Running Strong?
"In the midst of a steep global downturn, Fiat ekes out a profit while Chrysler and GM may soon run out of cash. For that alone, they should be shunned. Fiat's and Detroit's troubles started with the 1973 Arab oil embargo. That's 35 years of hand-wringing and warnings.

Congress worked in its aerie on Capitol Hill on an expensive temporary rescue of the American auto industry. The proposals, arguments and rhetoric over what to do for Detroit sounded as if they'd been imported from cuckoo land."

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