Auto Industry Bailout

The question of the moment on Capital Hill is of course whether or not Congress will succeed in passing a bailout of the big three automakers — General Motors, Chrysler and Ford.  The latest news is that there aren’t enough Republicans on board to pass the $14 billion bill fashioned by Senate Democrats.  There’s now talk of a compromise bill authored by Tennessee Republican Bob Corker, but with painful wage concessions from the United Auto Workers, cuts in retiree benefits, and debt restructuring requirements — the latter of which will no doubt mean a great deal of downsizing and lost jobs.

Once again, and much as with the banks during the last few months, there are fears about possible ripple effects across the economy if one or more of the automakers are allowed to fail.

If you’re interested in the auto industry, the following titles at Greensboro Public Library should shed some light upon the history of one of America’s most storied industries and where it’s headed.  Try some of these recent titles:  How Toyota Became #1: Leadership Lessons from the World’s Greatest Car Company by David Magee; Zoom:  The Global Race to Fuel the Car of the Future by Iain Carson and Vijay V. Vaitheeswaran; Billy, Alfred, and General Motors:  The Story of Two Unique Men, a Legendary Company, and a Remarkable Time in American History by William Pelfrey; The People’s Tycoon:  Henry Ford and the American Century by Steven Watts; The Ford Century: Ford Motor Company and the Innovations that Shaped the World by Russ Banham; Taken for a Ride:  Detroit’s Big Three and the Politics of Pollution by Jack Doyle; and The Car and Its Future, edited by Kaitlen Jay Exum and Lynn M. Messina.

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