.
Sadly, the local stain on journalism has managed to suck enough creditors in to escape bankruptcy.
This time.
But the basic elements that forced the rag into bankruptcy remain just as much in place now as they were when the papers were filed.
Hard news print media is obsolete.
Fringe-left reporting and editorial agendas that screw the people are just as obsolete (Go to wiki and look up "Seattle Post Intelligencer" for more information)
Allowing a thug with a keyboard to chase any hope of readership away from anyone not a communist or worse. (Yeah, I'm talking about Laird.)
Cheerleading for a project costing billions that they won't have to pay for in the face of overwhelming opposition while doing everything they can to stifle that opposition in the midst of a propaganda campaign that would make Dr. Goebbels green with envy.
So, what this amounts to is a temporary reprieve.
The patient has been notified they are dying. The only question remaining, thankfully, is how long do they have to live.
And given the damage this despicable rag is doing to our community, let us hope that a merciful end arrives for it soon.
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Showing posts with label bankruptcy. Show all posts
Showing posts with label bankruptcy. Show all posts
Saturday, February 06, 2010
Friday, May 01, 2009
Strike Two: Columbian seeks Chapter 11 bankruptcy protection
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It is extremely difficult not to feel a sense of satisfaction that the Columbian's Day of Reckoning is fast approaching.
I hate to revel in the agony the workers there must feel. We are all in a recession... but to each and every one of us facing unemployment or some other bleak prospect like the workers at this newspaper, the recession has become a depression.
This day has literally been coming for years. The newspaper has acted with an unspeakable arrogance. They believe their view is the only view, and they set out to personally damage those who oppose their Utopian vision for our community.
Their bias is legendary. Their ability to overlook the faults of those they support while exaggerating the faults of those they despise is the stuff making Germans longing for the days of Das Reich.
Just yesterday, they did a total hatchet job on Sen. Don Benton. That, of course, is the follow up to the hatchet job John Laird did on Benton just a few days ago.
A sober, balanced perspective is what we seek. This newspaper, for example, has shown itself to be, admirably enough, a staunch opponent of the organized crime effort known as the Cowlitz Casino.
Yet, when our federal officials lack the courage to take a straight position on that issue, does this rag take them to task for their cowardice? Has it, or even will it, cost any of these officials the lackey-leftist endorsement of this newspaper?
Why would I even ask? They're democrats. And this newspaper ALWAYS endorses democrat incumbents... and in the last election, ONLY endorsed democrats for ANY open seat; from the Presidency down to the state representatives.
Every, single, time.
If you're to the right of Lenin, you WILL come in for abuse by the editorial page editor, one John Laird, who CLAIMS to be an "independent..." but he's a liar.
This guy never misses an opportunity to tattoo anyone remotely conservative. And that, of course, is his privilege.
But to expect any of us receiving his abuse to then want to pay money for the privilege is the height of absurdity.
Further, this newspaper ignores those who disagree, and they all-too-typically get the tunnel vision shared by most who congregate in downtown Vancouver proper. An example of that is their rabid support of wasting $4 BILLION to bring light rail into Vancouver, an effort that will suck $100,000,00 each and every year out of our economy... dollars these staunch supporters will NOT have to pay on a daily basis, while they support the despicable gerrymandering and forcing tens of thousands of us to pay their fees without ever having the courtesy to ask us first.
It is nothing less than fiscal rape.
It's bad enough that we have a recession doing the same thing... but for us to do it to ourselves?
In spite of these common-sense concerns, the fact is that even a cursory review of these issues shows no in-depth reporting of the impacts on the working poor of this unneeded and unwanted monstrosity. Yet, this very paper has REPEATEDLY gone so far as to print bogus polls to support their position, a series of lies that amounts to the total abrogation of anything remotely related to journalistic ethics or integrity.
This is not new news. Over ten years ago, a Columbian reporter expressed concerns over the integrity of the profession:
Bankruptcy is the inevitable result. And as optimistic as Scott Campbell appears to be, the outcome becomes increasingly inevitable as he sticks with the failures installed as editor and editorial page editor.
They will not change.
And neither will the outcomes resulting from their efforts.
Next stop, liquidation.
And they cannot say they have not been repeatedly warned.
Columbian seeks Chapter 11 bankruptcy protection
Friday, May 1 4:14 p.m.
It is extremely difficult not to feel a sense of satisfaction that the Columbian's Day of Reckoning is fast approaching.
I hate to revel in the agony the workers there must feel. We are all in a recession... but to each and every one of us facing unemployment or some other bleak prospect like the workers at this newspaper, the recession has become a depression.
This day has literally been coming for years. The newspaper has acted with an unspeakable arrogance. They believe their view is the only view, and they set out to personally damage those who oppose their Utopian vision for our community.
Their bias is legendary. Their ability to overlook the faults of those they support while exaggerating the faults of those they despise is the stuff making Germans longing for the days of Das Reich.
Just yesterday, they did a total hatchet job on Sen. Don Benton. That, of course, is the follow up to the hatchet job John Laird did on Benton just a few days ago.
A sober, balanced perspective is what we seek. This newspaper, for example, has shown itself to be, admirably enough, a staunch opponent of the organized crime effort known as the Cowlitz Casino.
Yet, when our federal officials lack the courage to take a straight position on that issue, does this rag take them to task for their cowardice? Has it, or even will it, cost any of these officials the lackey-leftist endorsement of this newspaper?
Why would I even ask? They're democrats. And this newspaper ALWAYS endorses democrat incumbents... and in the last election, ONLY endorsed democrats for ANY open seat; from the Presidency down to the state representatives.
Every, single, time.
If you're to the right of Lenin, you WILL come in for abuse by the editorial page editor, one John Laird, who CLAIMS to be an "independent..." but he's a liar.
This guy never misses an opportunity to tattoo anyone remotely conservative. And that, of course, is his privilege.
But to expect any of us receiving his abuse to then want to pay money for the privilege is the height of absurdity.
Further, this newspaper ignores those who disagree, and they all-too-typically get the tunnel vision shared by most who congregate in downtown Vancouver proper. An example of that is their rabid support of wasting $4 BILLION to bring light rail into Vancouver, an effort that will suck $100,000,00 each and every year out of our economy... dollars these staunch supporters will NOT have to pay on a daily basis, while they support the despicable gerrymandering and forcing tens of thousands of us to pay their fees without ever having the courtesy to ask us first.
It is nothing less than fiscal rape.
It's bad enough that we have a recession doing the same thing... but for us to do it to ourselves?
In spite of these common-sense concerns, the fact is that even a cursory review of these issues shows no in-depth reporting of the impacts on the working poor of this unneeded and unwanted monstrosity. Yet, this very paper has REPEATEDLY gone so far as to print bogus polls to support their position, a series of lies that amounts to the total abrogation of anything remotely related to journalistic ethics or integrity.
This is not new news. Over ten years ago, a Columbian reporter expressed concerns over the integrity of the profession:
NEWSPAPERS TRY TO REGAIN CREDIBILITY WITH READERSHundreds of comments, thousands of observations... no changes where it matters.
From: The Columbian
Date: July 28, 1997 Author: MIKE FEINSILBER
WASHINGTON -- Would you believe this? A lot of editors worry that you wuldn't -- that people are less willing these days to believe what they read in the nespapers. They fear that, for a variety of reasons, newspapers are suffering a crisis in credibility, losing the irreplaceable asset of believability. The press has a lot to worry about these days: stagnant circulation, too few young readers, the Internet's ...Almost 12 years later, and the message has not been received by this organization, even though it originated with one of its own reporters.
Bankruptcy is the inevitable result. And as optimistic as Scott Campbell appears to be, the outcome becomes increasingly inevitable as he sticks with the failures installed as editor and editorial page editor.
They will not change.
And neither will the outcomes resulting from their efforts.
Next stop, liquidation.
And they cannot say they have not been repeatedly warned.
Columbian seeks Chapter 11 bankruptcy protection
Friday, May 1 4:14 p.m.
BY JULIA ANDERSON
COLUMBIAN STAFF WRITER
Scott Campbell, publisher of the independent daily newspaper serving Clark County and Southwest Washington, said operations will continue unaffected by the filing and that his company will emerge from the situation in a few months "with renewed vigor and excitement for the future."
The Vancouver-based three-generation family-owned publishing company with 259 employees operates The Columbian newspaper, established in 1890 and the Web site www.columbian.com.
"Our overall audience remains strong - and we are still an excellent way for advertisers to get their messages to Clark County buyers," Campbell said. "Our new downtown office building, which could have been paid off with our modest profits in a normal or even a conventional bad economy, contributed to our problem. But our debt peaked at the same time the economy stumbled, and the scope of the downturn exceeded my worst fears," he said.
Friday's filing in U.S. Bankruptcy Court in Tacoma showed The Columbian owes approximately $17 million to the bank and to a host of unsecured creditors. Those creditors include Mason Nolan, a former Columbian executive and Washougal resident, $179,263; North Pacific Paper Corp., Longview, $95,000; GE Captial Solutions, Torrance, Calif., $84,331 and Page Coop, a production supplier, $30,000 and Inland Empire Paper Co., Spokane, $27,893.
The Columbian's difficulties began almost as soon as it moved into a new six-story $40 million office building at 415 W. Sixth St. in downtown Vancouver in January 2008. A sour economy and costs related to the building - where newspaper, advertising, circulation and newsroom operations occupied four floors - triggered three rounds of company-wide layoffs last year that cut more than 100 positions from operations. In December, the newspaper was forced to relocate to its former address at 701 W. Eighth St., where it had operated since the 1950s.
"Columbian creditors need to know that the company has gone through some significant changes in operations and restored itself to a cash-flow positive basis. The business is here to stay. It will reorganize and continue to serve the community."
"The Columbian has seen a 40 percent decline in advertising dollars over the past several years, most of this decline in the past year," Campbell said. "In response, we have reorganized, particularly over the past year, and we are positioned to come through this bad economy."
He credited Columbian employees for picking up additional responsibilities and bringing a "new level of teamwork, creativity and focus to the operation" that has been essential to its success.
The Columbian advised customers - readers and advertisers - in October that a Chapter 11 filing might occur because of a deteriorating business environment. Foreclosure action in early April by Bank of America appeared to set the stage.
The debt reorganization is complicated because the publishing company as well as a separate entity called Downtown Vitality Partners, owned by the Campbell family, are both debtors to Bank of America.
DVP owes money on the purchase of the new building site and construction costs related to the building's shell, while the publishing company owes the bank for four floors of office space build-out.
The publishing company is seeking Chapter 11 protection, not DVP, Campbell pointed out. DVP, separately, owes Bank of America $27 million.
Doug Ness, Columbian chief financial officer, said Bank of America officials have been working well with the publishing company and with the plan put in front of them. "We don't see significant disagreement between us and the bank," Ness said. "It now appears useful to the bank to complete the negotiations and final settlement through the Chapter 11 process."
Sunday, January 11, 2009
More despicable light rail coverage by the Pravda Columbian: Hoofing it for light rail
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As the reader probably knows, the Pravda Columbian is teetering on the brink of bankruptcy.
There are many reasons for that failure: inability to innovate, lack of interesting features, the bizarre idea that they can reduce what the paper has to offer and then charge more for it; their uber-leftist bent proven with their complete-in-the-tank editorial positions in the last election, where they ONLY endorsed democrats for any open seat, from the Presidency on down.
But a huge part of why they have become the toilet paper includes their idiotic disservice to this community: their nonsensical, despicable efforts to get us to think we want what they want: a replacement bridge and loot rail.
Whenever even a quasi-official gathering of those interested in the subject is organized, those representing the majority view, that is, those demanding that there be no bridge and no loot rail are not invited.
The scum attempting to ram this down our throats are so unbelievably arrogant that they even admit it. From the Oregonian's coverage:
Not unlike a prior government in the Soviet Union, and the present government of Iran.
Its easy for those who will actually use this junk to demand that others pay for it for them. It's easy for therm to lay a $1000 or more per year toll on people they don't know. It's always easy when someone ELSE is going to pick up the tab.
The despicable aspect of this so-called "story" in the Pravda-Columbian is that they failed to admit that those involved in this massive propaganda effort did not include anyone who opposes this peculiar form of democratic centralism.
As the Columbian continues to circle the drain, maybe they ought to LISTEN. Otherwise, boycotts can get organized, and people can ACT to put an end to this utter nonsense.
Hoofing it for light rail
Walking tour gives folks idea of future mass-transit option
Saturday, January 10 8:11 p.m.
As the reader probably knows, the Pravda Columbian is teetering on the brink of bankruptcy.
There are many reasons for that failure: inability to innovate, lack of interesting features, the bizarre idea that they can reduce what the paper has to offer and then charge more for it; their uber-leftist bent proven with their complete-in-the-tank editorial positions in the last election, where they ONLY endorsed democrats for any open seat, from the Presidency on down.
But a huge part of why they have become the toilet paper includes their idiotic disservice to this community: their nonsensical, despicable efforts to get us to think we want what they want: a replacement bridge and loot rail.
Whenever even a quasi-official gathering of those interested in the subject is organized, those representing the majority view, that is, those demanding that there be no bridge and no loot rail are not invited.
The scum attempting to ram this down our throats are so unbelievably arrogant that they even admit it. From the Oregonian's coverage:
Few dissenting voices were heard, and that was partly by design.
Clearly Mr. White, who stands to gain financially from the bridge replacement and loot rail, is unconcerned about what the people want. In the world of those who see their judgement as superior to those who pay the bills, there is no room for dissension."If you came here to debate whether or not light rail is going to come to Vancouver," moderator John D. White said at the outset of the group discussion, "I think you're going to be disappointed."
Not unlike a prior government in the Soviet Union, and the present government of Iran.
Its easy for those who will actually use this junk to demand that others pay for it for them. It's easy for therm to lay a $1000 or more per year toll on people they don't know. It's always easy when someone ELSE is going to pick up the tab.
The despicable aspect of this so-called "story" in the Pravda-Columbian is that they failed to admit that those involved in this massive propaganda effort did not include anyone who opposes this peculiar form of democratic centralism.
As the Columbian continues to circle the drain, maybe they ought to LISTEN. Otherwise, boycotts can get organized, and people can ACT to put an end to this utter nonsense.
Hoofing it for light rail
Walking tour gives folks idea of future mass-transit option
Saturday, January 10 8:11 p.m.
BY LAURA MCVICKER
COLUMBIAN STAFF WRITER
Bob Dethlefs, top left, a transit engineer for Columbia River Crossing, led a walking tour Saturday of the proposed light-rail route through downtown Vancouver. Officials are considering either a couplet on Washington Street and Broadway or a two-way line on Washington. (Photos by Zachary Kaufman/The Columbian)
A group toured the area of West Ninth Street Saturday near a proposed Columbia River Crossing light-rail route through downtown Vancouver. The tour allowed the group to see how a line would affect nearby homes and businesses.
Sara Carter says she would gladly lengthen her daily commute to Portland by hopping on a light-rail line.
She commutes by bus to work from her Carter Park neighborhood, and light rail would drop her right at the office.
Her only question Saturday: What route would be best, a couplet on Washington Street and Broadway or a two-way line on Washington?
A walking tour Saturday of both routes let her see firsthand how the plans might affect businesses and neighbors in either location.
“I could support each one,” she said.
Dozens of people joined Carter on the tour, which met at Hudson’s Bay High School and traveled by bus through Washington and Broadway from East McLoughlin Boulevard.
She commutes by bus to work from her Carter Park neighborhood, and light rail would drop her right at the office.
Her only question Saturday: What route would be best, a couplet on Washington Street and Broadway or a two-way line on Washington?
A walking tour Saturday of both routes let her see firsthand how the plans might affect businesses and neighbors in either location.
“I could support each one,” she said.
Dozens of people joined Carter on the tour, which met at Hudson’s Bay High School and traveled by bus through Washington and Broadway from East McLoughlin Boulevard.
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Thursday, January 01, 2009
The idiocy and lies of the Columbian continue: No, a new bridge will NOT "ease chronic congestion."
Is there NO lie the Columbian won't tell as they continue their efforts to ram light rail that we don't want, along with horrific tolls that we don't want, to get loot rail into Clark County?
The story, below, entitled "2009: Year of the bottom line?" contains some predictions about next year. Anyone may, of course, predict anything they like, but when this rag does it... hold on to your wallets.
One of the moronic observations include the following about the bridge replacement debacle, shilled like no other ignorant project (save for the Hilton) in this moronic paper's existence, includes this:
There are several idiotic elements to this not-needed, not wanted, bridge-replacement... starting with the lie that replacing this bridge will impact congestion in any way.
But first and foremost of the dozen or so idiotic pronouncements by this excuse for a newspaper in support of the nonsensical idea that IS replacing the I-5 Bridge, is the observation that replacing this perfectly good bridge will "ease congestion."
It will do ABSOLUTELY NOTHING to "ease congestion." Nothing.
Even the experts tell us that, optimistically, "Congestion on new I-5 bridge back to today's level by 2030," but the fact is that even with the minor modification of Delta Park, replacing the three through-lanes we have now with, well, the three-through lanes envisioned by the loot rail idjits will accomplish nothing but to blow a $4 Billion hole in the taxpayer's pockets. Well, that and enriching the unions and other special interests demanding this garbage project.
At the end of the day, with this article, The Bankrupt Columbian has ignored the basic tenets of journalism. They are engaging in campaigning for something that essentially meets the agenda of the Vancouver Mafia, while ignoring common sense and what most of the rest of us would want: a 3rd... and then a 4th... bridge across the Columbia River.
The I-5 Bridge is old. But that, in and of itself, is no excuse for replacing it. For those who believe that replacing what appears to be a perfectly serviceable and functional bridge because of it's age... well, lets take a look at our local Newspaper.
We should apply the same reasoning. The bridge is old... the newspaper is old. The bridge, to hear them tell it, fails to meet our needs. The newspaper is circling the drain of bankruptcy, and wouldn't be terribly missed if it were to disappear tomorrow... thus meeting the same observation that it, to, fails to meet our needs.
There are things that can be done to upgrade the bridge without replacing it. The technology exists to increase it's survivability in the event of one of those world-ending earthquakes the Columbian incessantly whines about.
Of course, upgrading the bridge isn't a concern the fishwrapper shares. The newspaper's ONLY concern is to get loot rail over here. Everything else, including the horrific, massive waste of money to replace this serviceable bridge, is secondary.
There are things that can be done to save the newspaper without replacing it. Fire the entire idiocy of an editorial staff. Get rid of that idiot Laird... and Brancaccio. Revert to the true purpose of journalism: start just writing the news without making the news and lying to get what you want.
In this instance, the newspaper engages in the Goebbelian practice of telling a lie long enough, often enough and loud enough until the numbed minds of the masses actually believe it.
There is absolutely no excuse for pumping out this garbage.... none. Yet this paper insists on publishing lie after lie as if it were God's Own Truth. Perhaps a little journalistic introspection might be the order of the day... if they're interested in surviving, that is.
The story, below, entitled "2009: Year of the bottom line?" contains some predictions about next year. Anyone may, of course, predict anything they like, but when this rag does it... hold on to your wallets.
One of the moronic observations include the following about the bridge replacement debacle, shilled like no other ignorant project (save for the Hilton) in this moronic paper's existence, includes this:
Last year was a big milestone for the multiyear process toward easing chronic congestion for trucks and commuters, with local governments on both sides of the Columbia River signing onto a plan to replace the aging I-5 Bridge and bring light rail to Vancouver.
There are several idiotic elements to this not-needed, not wanted, bridge-replacement... starting with the lie that replacing this bridge will impact congestion in any way.
But first and foremost of the dozen or so idiotic pronouncements by this excuse for a newspaper in support of the nonsensical idea that IS replacing the I-5 Bridge, is the observation that replacing this perfectly good bridge will "ease congestion."
It will do ABSOLUTELY NOTHING to "ease congestion." Nothing.
Even the experts tell us that, optimistically, "Congestion on new I-5 bridge back to today's level by 2030," but the fact is that even with the minor modification of Delta Park, replacing the three through-lanes we have now with, well, the three-through lanes envisioned by the loot rail idjits will accomplish nothing but to blow a $4 Billion hole in the taxpayer's pockets. Well, that and enriching the unions and other special interests demanding this garbage project.
At the end of the day, with this article, The Bankrupt Columbian has ignored the basic tenets of journalism. They are engaging in campaigning for something that essentially meets the agenda of the Vancouver Mafia, while ignoring common sense and what most of the rest of us would want: a 3rd... and then a 4th... bridge across the Columbia River.
The I-5 Bridge is old. But that, in and of itself, is no excuse for replacing it. For those who believe that replacing what appears to be a perfectly serviceable and functional bridge because of it's age... well, lets take a look at our local Newspaper.
We should apply the same reasoning. The bridge is old... the newspaper is old. The bridge, to hear them tell it, fails to meet our needs. The newspaper is circling the drain of bankruptcy, and wouldn't be terribly missed if it were to disappear tomorrow... thus meeting the same observation that it, to, fails to meet our needs.
There are things that can be done to upgrade the bridge without replacing it. The technology exists to increase it's survivability in the event of one of those world-ending earthquakes the Columbian incessantly whines about.
Of course, upgrading the bridge isn't a concern the fishwrapper shares. The newspaper's ONLY concern is to get loot rail over here. Everything else, including the horrific, massive waste of money to replace this serviceable bridge, is secondary.
There are things that can be done to save the newspaper without replacing it. Fire the entire idiocy of an editorial staff. Get rid of that idiot Laird... and Brancaccio. Revert to the true purpose of journalism: start just writing the news without making the news and lying to get what you want.
In this instance, the newspaper engages in the Goebbelian practice of telling a lie long enough, often enough and loud enough until the numbed minds of the masses actually believe it.
There is absolutely no excuse for pumping out this garbage.... none. Yet this paper insists on publishing lie after lie as if it were God's Own Truth. Perhaps a little journalistic introspection might be the order of the day... if they're interested in surviving, that is.
Email Print Local News
2009: Year of bottom line?
Money will be the common denominator for major issues
Wednesday, December 31 8:15 p.m.
BY JEFFREY MIZECOLUMBIAN STAFF WRITER
Work continues on “Michaelsen,” a housing development being built by Manor Homes off Northwest 116th Street. Construction started after 10 of the 14 homes in the development were sold. (Zachary Kaufman/The Columbian)
One common denominator will shape Clark County’s top stories for 2009: money.
-- Housing markets will struggle to rebound from the worst year in memory.
-- State agencies, schools and cities will cope with the sting of budget cuts.
-- Big-ticket projects, including the Columbia River Crossing, will scramble to refine financial plans.
With unemployment and foreclosures rising and credit markets and consumer spending tanking, the pursuit of the almighty dollar will be front and center in 2009.
Many of these big stories will continue to unfold in 2009 without final resolution. For example, work on replacing the Interstate 5 Bridge has been under way for much of this decade, but no one expects a final plan, complete with dedicated funding, to be sewn up by the end of this year.
With that in mind, here’s a look at what to expect in 2009:
Housing market
Real estate agents, homeowners with adjustable mortgages and others would just as soon forget 2008. Will 2009 bring a rebound or more misery? Is the worst is still to come?
Home sales fell 33.3 percent in 2008, a year when prices dropped and foreclosures increased. But some real estate experts say there is hope for home sellers as buyers begin whittling away at the housing stockpile.
“I am hopeful that by mid-2009, we’ll see some definite signs of improvement,” said Sandy Hendrick, executive director of the Clark County Association of Realtors.
Hendrick expects softening home prices and abundant selection to rev up the local home-selling scene, a jump start that others say will be helped along by low interest rates on mortgages and a $7,500 federal tax write-off being offered to first-time buyers who purchase homes before July 1, 2009.
“It looks like the government is going to stimulate refinancing and purchasing,” said Kerry Greenwald, owner of Creekside Mortgage in Vancouver.
“If you can borrow money at 4.5 percent and get the government incentive, buying begins to look attractive,” Greenwald said. He also expects 2009 to be a banner year for mortgage refinancing.
National reports caution that the optimism of real estate experts could be premature, given the country’s deepening recession and mounting job losses.
Bridge planning
Last year was a big milestone for the multiyear process toward easing chronic congestion for trucks and commuters, with local governments on both sides of the Columbia River signing onto a plan to replace the aging I-5 Bridge and bring light rail to Vancouver.
Thursday, December 18, 2008
Is he finally using his head? Bush may let Detroit go bust.
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I've had a word or two to say about what looked like the utter folly of Mr. Bush bailing out the United Auto Workers, the union equivalent of Iran as the GOP is the equivalent of Israel.
Bailing out the UAW makes absolutely no sense. Toyota sold 9.3 million cars and made $17 billion. As has been pointed out, last calender year, GM sold 9.3 million cars and lost $37 billion.
Bailing out such an organization makes no business sense at all.
Finally, apparently, Mr. Bush has figured it out: there is precisely no percentage; either business or political, in saving this particular political foe from committing fiscal suicide.
Bankruptcy would effectively break the UAW. And that would be best for the automobile makers specifically and the country as a whole.
Bush may let Detroit go bust
President weighs option of 'orderly' auto bankruptcy
President weighs option of 'orderly' auto bankruptcy
By JENNIFER LOVENTHE
ASSOCIATED PRESS
WASHINGTON -- The Bush administration is looking at "orderly" bankruptcy as a possible way to deal with the desperately ailing U.S. auto industry, the White House said Thursday as automakers readied more plant closings and a half-million new jobless claims underscored the deteriorating national economy.
With General Motors, Chrysler and the rest of Detroit anxiously awaiting a White House decision on billions of dollars in emergency federal loans, press secretary Dana Perino said it wasn't simply a choice between government rescue and the disastrous collapse of a major industry.
"There's an orderly way to do bankruptcies that provides for more of a soft landing," she said. "I think that's what we would be talking about."
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