Constituents should be flooding the offices of their members of Congress with a strong voice of opposition to any bailout of Detroit's automakers.
Instead, these companies should file for Chapter 11 bankruptcy and reorganize their businesses with creditors and the courts calling the shots. Our nation's airlines have done so, and they're still flying. The automakers deserve no special treatment at our cost as taxpayers.
I covered Chapter 11 bankruptcy reorganization cases for 10 years in Oklahoma. And the process is a good, cleansing one of re-addressing every cost and contract -- just like we do in our households when times are bad.
Don't let the automakers avoid their day of reckoning. Bankruptcy court allows for workers to stay employed while executives and union bosses get their acts together.
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