This week we welcome the author of the book Car Wreck, Mark Ragsdale, a former dealership owner and operator that says the U.S. auto industry took the American public for a ride. By the way, he wonders, why has there never been a dealer on an auto company’s board of directors? And, according to Ragsdale, you should never buy a new car again–only lease, and he’ll tell us why. Of course, we’ll get into the news of the week: Chrysler posts a profit, the UAW wants more compensation, and sales slow down in China. John McElroy’s in studio with Peter De Lorenzo, the Autoextremist, and David Welch from Bloomberg BusinessWeek.