IIn response to any other than the Big 3 being non-N American automakers, this is simply not true. I have worked for one of those 'foreign" automakers- for the last 15 years. Not only am I not "underpaid" I have excellent benefits. My employer has created the economy in our area, when all the textile mills and furniture mfg's went to Mexico & China thanks to NAFTA & CAFTA. This area was listed on yesterdays national news as one of the 5 best economy's in the US. What is different from us and the big 3- we don't have nor want a union, our CEO's don’t make $25mil a year,& there is fiscal responsibility. It is time corporate America, & Uncle Sam started leading by example and yes this includes celebrities- operate within your means- if you don't have the money- don't buy it and to the government; all you are doing is enabling bad behavior and postponing the inevitable. But I guess if you hold business leaders accountable- you might have to hold yourself accountable.

I agree partly about the 3 domestic automakers.
The workers are overpaid in some "eyes"--say at
$25 & up for specialty workers. BUT--at the top
CEO level--I heard $25 million per year--plus
private jet for GM CEO--& similar for Ford--these
are the grossly overpaid cash drainers!!! NO ONE
on the face of the earth is worth this kind of
money!!! However--in my opinion--there are many
more grossly overpaid people in other areas of
life --sadly Christians support --such as going to
"Rock concerts"(Music Stars),"Movies"(Hollywood
stars)"Entertainment industry people" & "Sport
figures"--all ridiculously overpaid!!
Also--look in your driveway. If you've got a car
other than the big "three"--then you've created
part of the problem(my opinion). Every car pur-
chased other than in N. America, funnels thousands
of dollars to other countries that GROSSLY under
pay(in most cases) their workers.
Sincerely, Dan

The unfortunate truth is that we'll be bailing out the auto industry one way or another.

We can ensure that there are still American automakers.

Or we can pay out unemployment and later welfare to all the former automakers and their suppliers.

I believe that Mr. Colson's analogy to the Prodigal Son is flawed. He makes the same mistake that Mr. Romney made in his NY Times article, saying that the automakers need to enter Chapter 11 Bankruptcy in order to reorganize & restructure. If an automaker declares bankruptcy, it's doomed. Period. There aren't six people in America who would buy a car from a bankrupt automaker. Consumers can't afford to bet $25,000 or more that the automaker will survive; that their warranty will be good past next month; or that there will be parts available next year.

I'm not arguing for or against bailing out the automakers. I'm just pointing out that Chapter 11 isn't a realistic choice. If they go under, they won't be back, and will join the likes of Nash, Hudson, Studebaker, etc.