OUR VIEW: Auto woes hit region as GM shutters F’burg plant

» Layoffs and closures are bad enough, but a prolonged federal ownership of General Motors is a threat to the free enterprise model.

General Motors is closing its only plant in Virginia, causing even more area workers to be sent to the unemployment line.

When GM announced last week it would shutter its plant in Fredericksburg — a plant that produces torque converter clutches for automatic transmissions — the news was disconcerting on many levels.

No one likes to see a major operation tank, but the GM closure could also spell problems for other manufacturers in our area. As GM shuts down nine plants total, and as American auto manufacturing continues to struggle, it means that other car products — such as brakes made by Continental Teves right here in Culpeper — are also feeling the pinch as demand weakens.

Like many Americans, we, too, feel nervous about the federal government now owning a 60 percent equity stake in GM. Let’s hope this is only a temporary fix and that the company can bounce back in a non-public capacity.

Surely there are other entities that need our tax dollars just as much as “Government Motors.” Trying to keep our auto industry afloat is a noble cause, but not one that requires prolonged government involvement.

American capitalism is built on free enterprise, not state-run ownership. As much as it hurts, the failure of private companies is a natural byproduct of our nation’s economic system. A short-term solution to prop up failing industries might be government involvement, but in a long-term capacity, Washington needs to butt out.

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UNEMPLOYMENT DOWN: While the news of GM’s plant closing means more job losses in Fredericksburg,  the state and Culpeper received a sliver of good news on the economic front.

Virginia’s unemployment rate dropped slightly in April while Culpeper’s fell by almost 1 percent.

We’re hoping this marks the beginning of the end when it comes to the recession, but we’re not naive either. We still have a long, long way to go.