Congress will soon pass a $25 billion bailout of GM, Ford, and Chrysler. Frankly, if auto companies can’t compete, they should go under. Toyota can run a profitable plant in Marysville but Ford needs $5 billion to do the same thing? A lot of the problems those firms have are institutional (thanks in large part to the UAW), so the market should be opened for competitors without such onerous regluations to come in and once they kill off those three and take the salvagable parts from them, we’ll be better off.
George Will, by the way, was on top of this a couple of days ago.