Tuesday, August 31, 2010

Still Hope for the American Auto Industry?

When Chrysler and GM filed for bankruptcy in 2009 they planned to shutter thousands of dealerships across the country. Fewer than one third of the dealers who hoped to stay in business are in the running for a comeback.

Bush didn't want to make improvements on American cars fuel economy to preserve the "American way of life". Now, after the downfall of the American auto industry, only a third of dealers have the chance for a comeback. Maybe Friedman is right. We do need a change.