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Both CBS and NBC chose the economic travails of a specific industry--automobiles. NBC's Ian Williams selected Toyota with a report on layoffs in Nagoya. "Jobs in Japan frequently come with accommodation so if you lose your job, you lose your home." Toyota is failing to make a profit for the first year since 1950. For all the talk of Japan's lost decade, "this crisis is hitting people far worse than the stagnation of the '90s." On CBS, Anthony Mason was assigned to a What It Means explainer on General Motors. According to Mason, either bailout or bankruptcy is not the choice that GM represents for the federal government. The bucks will have to be paid either way. "Bankruptcy for the country's largest automaker would cost at least another $50bn," he warned. "With the banking system crippled, the government would have to help organize and pay for it."
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