A British Lesson on Auto Bailouts

This articles draws interesting comparison to the current auto-maker crisis in the United States to the British Layland car company. British Layland was once an auto-industry giant in Britain owning 36% of the British market in the early 1970's, but by 1975 faced bankruptcy due to strong competition from Japanese and German car makers, poor quality and poor management of labor relations. The company was bailed out in the 80's with an bailout package equivalent of $5.1 billion in today’s money. But in the bailout failed and the company gone under.