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Economics Prof Discusses Bailout Save Email Print
WTAP News
Posted: 6:54 PM Nov 17, 2008
Last Updated: 6:54 PM Nov 17, 2008
Reporter: Courtney Rochon
Email Address: courtney.rochon@wtap.com

A | A | A

Congress is back in session and a proposed bailout of the auto industry is a major topic on the agenda.

Jeff Holland is the Chair of the Business and Economics Division at West Virginia University at Parkersburg.

He says that in order to save American car companies, the $25 billion dollar bailout is essential.

"They're likely to file bankruptcy and reorganize. But in the meantime you're looking at thousands and thousands of job losses probably," said Holland.

Thousands of automotive workers have lost their jobs this year and car sales are down 15% for the year.

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Posted by: tom Location: dexter city ohio on Nov 18, 2008 at 06:21 AM
I, for one, am not a person to buy foreign cars but the japanese have a better car for less money. The American car is just thrown together by union workers to get out their quota if they want to keep their jobs. they need to make some concessions. personally i think they should abolish all unions and people get back to work make this great country what it once was.

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