Friday, November 21, 2008

French-Style Subsidies Come to Alabama

U.S. Sen. Richard Shelby, R-Alabama, seems to delight in attacking the Big Three. The senior Republican on the Senate Banking Committee favors bankruptcy or worse over a bridge loan to help American automakers survive.
“We don’t need government — governmental subsidies — for manufacturing in this country," Shelby said on Meet the Press recently. "It’s the French model, it’s the wrong road. We will pay for it. The average American taxpayer is going to pay dearly for this, if I’m not wrong.”
Pretty strong words from a politician whose own state rolled out the government subsidies to get a Mercedes Benz plant to open in Alabama. Peter Karmanos, Jr., chairman and CEO of Detroit-based Compuware Corporation, called Shelby on the contradiction in an open letter to the senator.

1 comment:

  1. $40 million will be lost in the Grand Traverse area alone. What do You think will happen to the rest of the Midwest? I got together last night w/ Megan and Jeremy and my Grandsons, and the first topic discussed was the possible, on again off again maybe next week maybe never bailout. I think they enjoyed my guillotine idea. Snowin' like a bastard here! Bay's still open though...


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