Michael Levine, LLB - Big Three Auto Bailout - ProCon.org

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BIG THREE AUTO BAILOUT

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

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