The Fall of an Industrial Titan: GM Goes Bankrupt
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President Obama said today he expects a new General Motors to emerge from the ashes of its historic filing for bankruptcy. He also warned that there are more hard times ahead. Guest host Sara Terry considers what a restructured GM will look like, how hands-off the government will be as the company’s major stakeholder, and what the failure means for auto workers, parts suppliers and dealers? Also, the battle for Minnesota’s still-contested US Senate seat. On Reporter's Notebook, anti-abortionists called him “Tiller the killer." Now, Doctor George Tiller, who performed late-term abortions, has been killed.
Banner image: General Motors CEO Fritz Henderson speaks with reporters following an announcement that GM filed for Chapter 11 bankruptcy today. Photo: Spencer Platt/Getty Images
Making News
Coleman, Franken Back in Court over Minnesota Senate Seat ()
The battle for Minnesota's still-contested US Senate seat reached the state's supreme court today. Republican Norm Coleman is challenging lower court rulings that upheld a win by Democrat and former comedian Al Franken. Richard Hasen specializes in election law at Loyola Law School in Los Angeles, California and blogs at ElectionLawBlog.org.
Guests:
- Rick Hasen: Professor of Law, Loyola Law School , @rickhasen
Main Topic
The Fall of an Industrial Titan: GM Goes Bankrupt ()
It used to be said that “what's good for General Motors is good for the country.” Not any more. The car company that muscled its way to becoming one of the largest manufacturers in the world filed for bankruptcy today. It's the fourth largest bankruptcy in American history. After pouring billions of dollars into the failed company, how will the US government restructure GM, as it becomes the major stakeholder? Will the United Auto Workers Union survive or be forced to merge with another union? What kind of cars will roll off the assembly line of a new, streamlined GM?
Guests:
- Tim Higgins: Business writer for the Detroit Free Press
- Maryann Keller: veteran independent auto analyst
- Todd Lassa: Detroit Editor, Motor Trend
- Dan Neil: Pulitzer Prize-winning auto critic, Los Angeles Times, @Danneilwsj
- Richard Block: Professor of Labor and Industrial Relations, Michigan State University
Links:
- Bankruptcy court approves Chrysler-Fiat deal
- Obama on GM bankruptcy, restructuring
- Lassa's blog on GM's Volt plug-in hybrid
- Higgins' article on GM restructuring
- Chrysler-Fiat alliance
- Block's consultation to GAO on financial status of GM and Chrysler
- Neil's article on GM failure as lesson for US economy
Reporter's Notebook
Los Angeles' New Water Restrictions Begin Today ()
Los Angeles' mandatory water conservation restrictions began today. They include limits on sprinkler watering and reductions in Angelinos' bi-monthly water allotments. The restrictions have been put in place to address a water supply shortage that has plagued the City for the third consecutive year. David Nahai is CEO of the Department of Water and Power, which provides water and electricity for the City of Los Angeles.
Guests:
- David Nahai: President, LA Department of Water and Power
Links:
Underwriters
Which Way L.A.? is made possible in part by the Ralph M. Parsons Foundation, the Nathan Cummings Foundation, and the John Randolph Haynes and Dora Haynes Foundation, which supports study and research into policy issues of the Los Angeles region.
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