Bolling: Readers Weigh In on Big Three

Yesterday I published a letter to the heads of Ford (F Quote), GM (GM Quote), Chrysler and the United Auto Workers. In it, I suggested that a structured bankruptcy was the best option for all involved in the mess Detroit automaking has become. I went so far as to suggest that many Americans hate the thought of bailing out an industry that has been slow to change and resistant to renegotiate onerous union contracts.

I said what I believe to be true, that in Chapter 11 reorganization, U.S. automakers would garner a much-needed "buy American" sentiment. I believe that Americans would go out of their way to purchase their next vehicle from Ford, GM or Chrysler if the Big Three would file Chapter 11 reorganization instead of wasting billions of taxpayer dollars on a broken business model. I offered to buy a vehicle from each of the three that restructures rather than take our hard-earned taxpayer money.

The response has been over the top. I have been flooded with emails. A few were callous, saying that I am "stupid" or not informed, but over 90% were against any form of bailout money for the Big Three. Most interesting were the emails from within the walls of Detroit's auto industry. Several current and past autoworkers wrote in and all agreed with my assessment of the UAW on their ability to innovate and compete. ...