So Justice Ginsburg, that great defender of capitalism and liberty, has enjoined the Chrysler-Fiat transaction so that pensioners (i.e., union members) have a better opportunity to object (i.e., extort more money out of the sale). It looks like it will eventually go through, but not before the union vultures have a chance to pick at the carcass a little more.
Look for Chrysler and GM to be like Amtrak--continuous loss of money, little reason to innovate, and generally mediocre service.
And while we're on the auto industry, does it bother anybody else just how much Sean Hannity is owned by GM? They sponsor his program, so he's always defending them, to the extent the other day that I heard him hawking GM cars because the government is going to stand behind their warranty. I know Sean's got a program to run, and he does have to keep up the $40MM annual salary, but can the buy-off be any more blatant?
I say let Chrysler and GM go bankrupt, like every other company, and let them see whether they can come out of it or go the way of the Edsel. If there's a market for cars in America, another company will rise from their ashes to supply that market.