A2: Auto Industry

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Two local experts give two very different takes on the auto industry crisis. Quoted in Bloomberg News, Dennis Virag of the Ann Arbor-based Automotive Consulting Group says that a GM or Chrysler bankruptcy “would be the start of a cascade of failures. The economy will be in chaos within weeks.” Talking to the Washington Times, Gerald Meyers, former CEO of American Motors Corp. and now a UM business professor and crisis management consultant, believes the crisis has been overblown, and that politicians should get out of the way. “I think the political interference has been nothing but muddying the waters and making the interested parties feel like they have power they don’t have.” [Source] [Source]