Bailing Out the Big Three
With regard to TIME's COVER story, I have no sympathy for the Big Three automakers [Dec. 15]. For decades, Ford, General Motors and Chrysler fiercely opposed corporate restructuring and green technology while egregiously mismanaging their businesses. The only reason they've recently gotten religion is that they're teetering on the verge of bankruptcy. Mark Stuart Ellison, BROOKLYN, N.Y.
While U.S. automobile companies have some responsibility for their current predicament, for many of the reasons you cite, the U.S. Treasury and Federal Reserve have unclean hands as well. Each of the car companies had adequate capital entering the...
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