UM: Auto Industry

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Bloomberg reports on President Obama’s auto task force and their visit to the Detroit area this week to meet with executives from GM and Chrysler. The article quotes UM professor Martin Zimmerman, commenting on the prospect of the automakers’ bankruptcy: ”With jobs falling all over the economy, the economy very weak, you risk in a bankruptcy, I think, much more cascading job losses. I don’t think at this juncture in the economy we want to take that risk.” [Source]