This is an excellent video interview by Thomas Friedman on the proposed bailout of the auto industry. The end is excellent.
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WOW!
Been reading that guy for ages in the paper never realized what spicy mutha f’er he was!
WOW!
Part 1 is good, too!
http://www.cnbc.com/id/15840232?video=927358239&play=1
In 11 minutes of those two videos, not once did Friedman mention the elephant in the room, the unsustainable labor costs that the Big Three locked in with the UAW.
Also the idea that Steve Jobs could whip up a mass production “iCar” in a year is naive. Friedman must not have heard about the problems the folks at Tesla Motors have had. Building a high-end roadster is hard, but building a mass production car is a lot harder.
By the way, interesting how Friedman said nothing when Mark Haines brought up the war in Iraq. The Middle East is one area where Friedman actually does have some expertise, and after initially supporting the war, he flipped on it when the going got tough. Either he got the biggest call of his career wrong, or he lacked the conviction to hold a no longer popular position. Either way, it doesn’t give me much confidence in his thoughts on the auto industry or energy policy.
The high labor costs are a problem. I heard GM average wage is $74/hour vs. $40ish for Toyota.
I think iCar was a bad example but c’mon… a friggin’ Prius type car isn’t too much to ask from GM!?! I have a prius and it is the best car I have ever driven. PERIOD. It is ugly…