I’ve had this page from the Detroit Free Press open in my browser for the last three months or so — mostly for the personal amusement of myself, my friends and my colleagues. And just earlier today, I began to wonder why I haven’t published the satirical piece in question on GM Authority.
No matter what you may think of the U.S. auto bailout, the fact is that it saved more than a million jobs, prevented the collapse of the domestic auto supply chain, and helped Ford (and even Toyota!) survive to become the lean, mean, profit-making machine it has become today. What’ more, the bailout saved an innumerable amount of jobs — bolstering a country ridden by The Great Recession. And let’s not forget the published reports quoting Steven Rattner that the state of Michigan would have been bankrupt if not for the federal cash infusion into GM (and Chrysler).
At the end of the day, the auto bailout worked by saving GM and Chrysler while helping Ford retain the rich supply chain that it is so proudly taking advantage of today. As Mike Thompson wrote for the Detroit Free Press, “Thankfully, common sense won out over ideology.”
Check the source for the humorously sarcastic animation of everything described above (highly recommended)! Disagree with what’s written above and/or in the Freep piece? Sound off in the comments!