The New York Times has written a column on the whole Automotive saga that is making it’s way into the headlines day in and day out. The article singles out the possibility of the Chrysler GM merger and the inability of the U.S. government to provide support.
In the opinion of the newspaper, the Big Three employ too many people to be put into jeopardy in case either one of the companies fail. It has also brought up a very valid point, that the funding that has been made available to the companies in the form of re-tooling costs in the sum of $25 billion, will not be available to them for some time to come. This is due to the slow moving banking system and it’s legal teams to work out the details of the plan. In the meantime all three manufacturers are losing money every month.
