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January 30, 2009

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Kimballcorson

What troubles me is the lack of a clear agenda on the part of the automakers to be bailed out. Once bailed, are they going to continue to mass produce SUVs and to do what they did? Will their CEOs continue tooling about in corporate jets? What about the officers´ bonuses and golden parachutes? Surely, buried in the bowels of these behemoths there are some bright people with some good ideas, but I suspect they are drowned in bureaucracy and subordination. How to get to them is a question. Also, can these automakers compete with the weight of their pension obligations? Indications are they cannot. What should be done there? Should hearings be held on these matters to get a coherent agenda and foundation for going forward before we grease these automakers´ palms? I definitely think so.

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