I spoke w/a woman who was a GM employee for 30 yrs. She said, “Obama needs to bail them out then they’ll be OK.” I asked what she thought was the cause of their problems-she said that they used to use quality materials from Detroit – sheet metal that was stronger and much more efficient but they resorted to cheaper labor overseas & the quality of their product suffered. I added that environmental restrictions contributed to their demise as well (she disagreed). She said that the CEOs made some bad business decisions which contributed to the deterioration in the quality of their product. I asked if they were still there, she said yes. I said “Well then how would a bailout help the situation?”
