After an breathtaking fight between the U.S. auto industry and a pack of ravenous bears, it appears that the bears have gained the upper hand.
And as their powerful jaws hold poised and steady around GM and Chrysler's throats — awaiting permission to snap shut and collapse the two flailing companies' straining tracheas — the crowd turns its heads collectively up, up up toward The Presidential Box to witness a decision on their fate.
Barack Obama outstretches his fist and protruding thumb… and turns the wavering digit… down!
When it comes to General Motors and Chrysler, the government intends to allow nature take its course, and will let the two companies go into bankruptcy if need be. That's a sharp break with the usual stance taken by administrations from both parties — including this one — when it comes to the Big Three automakers; normally, they're prime examples of "too big to fail."…
And 76 percent of the crowd leaps to its feet cheering wildly, howling excitedly for blood! Or motor oil or break fluid or something. (I get tripped up with analogies sometimes.)
Tags: Auto Industry, Barack Obama, Chrysler