It all comes down to selling cars. Increase their pay and the Japanese will sell the cars, not them. At least the $16-18 per hour is there. That is $16-$18 per hour less from the tax payers. The bail out is bound to fail.
RB what gave you the clue that it will fail? That the mentality on both sides hasn't changed so why would we think it would work? Typical liberal mentality, throw money at it and defer it to another day and let someone else worry about it. Ford will survive this why, because they are changing their thought process. They won't get on bended knee to the government. They don't want to become government owned. It was like this in the early 80's, they had written the automobile business was dead. It came back. It will again. Too much easy handout money that caused this crisis. The mortgage industry was held at gun point by the fed. Who ever said it was a right to own a home? You have a right to achieve that status, but no guarantee.
If their labor costs are more than the Japanese, the Japanese cars cost less and the US automakers will sell less cars. In any business, to survive and thrive, you must increase revenue and reduce cost. When there were news reports about the bailout, they went to Mexico to interview workers, or former workers. GM is building cars in Mexico to lower their labor costs.
No America lost... all this bail out money is our taxes, today and also several years in the future, Obama and the rest of the tax and spend crowd will only please the poor... those who have nothing and look for a government handout.