OK, so maybe the Obama administration is asserting government control over more than just a handful of financial institutions. It seems they're also telling the Detroit auto makers how to do their jobs.
But that is for Detroit's own good. The Detroit auto makers aren't doing so well because their executives have not been in touch with the needs of American drivers. U.S. auto buyers want high MPGs. We get that from Japan, not Detroit.
President Obama is giving the domestic auto industry a chance to reorganize -- to catch up or shut up.
And, despite my status as a Toyota loyalist, I am hoping that the U.S. auto industry can catch up and then surpass the foreign competition.
But I am not optimistic.
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