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BIG THREE AUTO BAILOUT
Last updated on: 12/31/2008 11:57:00 AM PST Big Three Auto Bailout Home Page > Source Biographies > >Michael Levine, LLB

Michael Levine, LLB Biography

Title: Distinguished Research Scholar and Senior Lecturer at the New York University School of Law
Position: Not Clearly Pro or Con to the question "Should the Big Three Car Manufacturers Be Bailed out by the US Government?"
Reasoning:
"General Motors is a once-great company caught in a web of relationships designed for another era. It should not be fed while still caught, because that will leave it trapped until we get tired of feeding it. Then it will die. The only possibility of saving it is to take the risk of cutting it free. In other words, GM should be allowed to go bankrupt...

Federal law provides a way out of the web: reorganization under Chapter 11 of the bankruptcy code. If GM were told that no assistance would be available without a bankruptcy filing, all options would be put on the table...

As a last resort, we could at least consider a public DIP [debtor-in-possession] loan to support a reorganizing GM with a good chance to survive -- as opposed to subsidizing a GM slowly deflating...

GM as it is cannot survive without long-term government life support. If it gets that support, it can't change enough and won't change fast enough. Contrary to Mr. Wagoner's brave declaration, bankruptcy is an option. In fact, it's the only option that merits public support and actually has a chance at succeeding."

"Why Bankruptcy Is the Best Option for GM," Wall Street Journal, Nov. 17, 2008
Theoretical Expertise Ranking:  Experts
Individuals with JDs, PhDs, other relevant advanced degrees, CEO's of major car manufacturing companies, and government officials with significant involvement in, or related to, automotive, business, and bankruptcy issues. [Note: Experts definition varies by site.]
Involvement and Affiliations:
  • Distinguished Research Scholar and Senior Lecturer, New York University (NYU) School of Law
  • Union Asbestos and Rubber Company (UNR) Asbestos-Disease Claims Trust, Trustee 1989-present, Chairman, 2005-present
  • Member, Board of Directors, Institut du Transport Aerien, (Paris, France), 1984-present
  • Named one of ten most influential commercial aviation pioneers, Airfinance Journal, 2002
  • Member, Board of Trustees, Reed College, 1984-2002
  • Recipient, Distinguished Transportation Researcher Lifetime Award, Transportation Research Forum, 2000
  • Executive Vice President, Northwest Airlines, 1992-1999
  • Dean, Yale School of Management, 1988-1991
  • Member, US Aviation Safety Commission, 1987-1988
  • Member, Board of Trustees, Wenner-Gren Foundation for Anthropological Research, 1983-1989
  • President and Chief Executive Officer (CEO), New York Air, 1982-1984
  • Executive Vice President, Marketing, Continental Airlines, 1981-1982
  • Member, US Office of Technology Assessment Advisory Panel, Airport and Air Traffic Control System, 1980-1981
  • Recipient, Award for Excellence and Distinguished Public Service, US Civil Aeronautics Board, 1979
  • General Director, International and Domestic Aviation, US Civil Aeronautics Board, 1978-1979
  • Academic Visitor, London School of Economics, 1977
  • Education:
  • LLB, Yale Law School, 1965
  • BA, Philosophy, Reed College, 1962
  • Other: None found
    Big Three Auto Bailout Homepage
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    Pro & Con Arguments
    Chart Comparing Big Three Auto Makers to Toyota and Honda
    Top Pro & Con Quotes
    Top Pro & Con Quotes
    RECOMMENDED to you...
    1
    Historical Timeline
    2
    US Senate and House Hearings on Big Three Bailout
    3
    Big Three Auto Restructuring Plans, Loan Agreements,
    and Related Legislation
    4
    Congressional Research Service report for Congress, "U.S. Motor Vehicle Industry: Federal Financial Assistance and Restructuring," Dec. 3, 2008 (PDF)
    5
    2008 Vehicles Built By Union Members in the US and Canada (PDF)
    + DIG DEEPER...
    Source Biographies
    Sources and Notes
    Site Map
    Notices Archive
    Auto Brands for Big Three and Toyota and Honda
    Chapter 11 Bankruptcy Explained
    Contracts with United Auto Workers (UAW) and Others
    Legacy Employee Costs
    Average Hourly Compensation 2006 (US Wages and Benefits)
    Annual Union Dues per Employee
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