Posted Tuesday, June 2, 2009
The General Motors bankruptcy raises huge questions about the future of the auto industry and the role the government will play at that car maker. President Barack Obama says the government's "goal is to get GM back on its feet, take a hands off approach and get out quickly." That doesn't answer the question about whether taxpayers will get a return on their investment. Tuesday morning at 9, we explain this complicated bankruptcy and find out what it means for Ohio industry.
My cousin and Aunt were in town this past weekend and they live in Michigan. A friend of theirs owns a chain of dry cleaners near GM and Chrysler plants. Their business is down 40% since last year. This problem with the auto companies is affecting everyone!
Hey, why didn't your guests mention that in 2004, tax depreciation for small businesses was raised from $25,000 to $75,000 for small and light trucks? This also contributed to the explosion in Hummers & luxury SUVs on the road.
Wilbur, Bethesda, MD
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