It had to be done. The US automakers have their problems but the way the talking heads and business anchors have been talking you'd think that none of the big 3 produce anything that Americans want. It's a great attempt to divert attention from the true root of our economic problems, overinflated housing prices artificially supported by fraudulent loan products pushed by morally-impaired financial institutions to buyers who couldn't afford the loan.
Regarding Ford, GM, and Chrysler, the last time I checked there aren't many foreign trucks pulling around heavy equipment.
The problems of the automotive industry are definitely being exaggerated by the economy. If the current economy continues to shed jobs and see consumers cut back further on spending none of the automobile makers, domestic or foreign, will be making many automobiles or profit!