Peter Klein at Organizations and Markets has pointed out that the US has a thriving auto industry that does not need to be bailed out.
The US has one of the most vibrant, dynamic, and efficient automobile industries in the world. It produces several million cars, trucks, and SUVs per year, employing (in 2006) 402,800 Americans at an average salary of $63,358. Thats vehicle assembly alone; the rest of the supply chain employs even more people and generates more income. Its an industry to be proud of. Its products are among the best in the world. Their names are Toyota, Honda, Nissan, BMW, Mercedes, Hyundai, Mazda, Mitsubishi, and Subaru.
Oh, yes, theres also a legacy industry, based in Detroit, but its rapidly, and thankfully, going the way of the horse-and-buggy business.
One of the reasons why GMH is in trouble.