Big 3 need Bush's buy-in, not a bailout, Governments in Japan, Germany intervened

[Omaha Steve]

http://www.uaw.org/atissue/atstory.cfm?atId=139

Friday, February 03, 2006
Big 3 need Bush's buy-in, not a bailout
Governments in Japan, Germany intervened to reduce risk of failure

by Ron Gettelfinger

Following the painful plant closings and job reductions announced by U.S. automakers, some people ask whether it's time for Uncle Sam to come to the rescue.

According to the Wall Street Journal, President Bush takes a "dim view of a government bailout of the struggling automakers."

"I would hope I wouldn't be asked to make that decision," he said. "Why don't we think about the best, not the worst?"

We agree: Let's think positively about an industry that employs nearly 1 million American manufacturing workers and supports the jobs and income of millions more.

Governments usually help
But President Bush and other federal policymakers must recognize that the foreign auto firms who are gaining market share in the United States did not succeed while their countries let "free markets" run their course. Japan, Germany, South Korea and other countries actively intervene to support their industries. Because they bought in early, there's less chance these governments will be forced to bail out companies later.

Some say it doesn't matter what happens to the traditional Big Three, because America still has plenty of auto jobs. The jobs are just shifting, the story goes, away from Ford, General Motors and DaimlerChrysler and toward Honda, Nissan and Toyota.

full ARTICLE AT LINK.