I wrote earlier about HOW the American auto industry might be bailed out and restructured…but I was a little light on the WHY. I went as far as to say that millions of jobs rely on them, and that a multitude of related companies and industries would be severely affected, or even destroyed, if the auto makers went down. I indicated that whether they DESERVE the bailout should be considered separately from whether we SHOULD bail them out for reasons related to the economy as a whole. Past that…I didn’t provide the numbers to back these assertions up.
Well, give this clip a few minutes of your time:
This contains some data I did not have, and some elements I hadn’t considered (for instance, that the auto industry is the number one purchaser of everything from steel, to microchips, to plastics) …and now I’m even more certain that steps need to be taken to make certain the industry does not go into bankruptcy.