Detroit Is Drowning

GM's and Chrysler's survival plans to Washington dominated the news today. As a Detroiter, I can't help but sit and bite my nails wondering what would happen if one or both of them doesn't get the federal money. There is much debate over this matter. As a resident of the Motor City, I am literally living in ground zero. We will be looking at an economic Katrina if these companies go under, as so much of the local economy is directly tied to the fortunes (and misfortunes) of them.

Now I can't say I am entirely pro-U.S. auto industry. After all, much of the ills they now face have been self-inflicted, through four decades of blind mismanagement. Their products, for the most part, are unimpressive and therefore uncompetitive. I have owned a Honda and now a Toyota and have vowed never to buy American cars again. The ownership experience with these imports are so much better than with my former Dodge, Mercury, and Ford products.

So that leaves me in a sort of uneasy quagmire. I want the auto companies to stay afloat simply because our fragile U.S. economy cannot take another hit. And certainly Detroit would be swallowed up by the unemployment tide if the worst was to happen. But at the same time I don't know if I will ever gain enough personal trust in the companies to buy their products. Perception is hard to break and I know I am not alone. It may be too little too late.