1. The country needs the manufacturing capacity, if for no other reason than for potential defense production.
2. Government operation of ANY industry ALWAYS results in inefficiency, poor return-on-investment [ROI] for stockholders [taxpayers], and poor service to customers.
3. Do what's necessary to keep GM open but get rid of current management. Put new management in with their pay based upon results: if there are no profits, not only do you not get a bonus, but you get no pay. If it's good enough for the people who sell your cars, it should be good enough for the suits who make the decisions.
The CURRENT contract with the UAW takes the burden of legacy costs off ALL the automakers and puts it into a trust administered by the union. So when those legacy costs are gone, GM [and Ford and Chrysler] are suddenly competitive with Toyota and Honda and the others on labor costs. PLUS, under the CURRENT contract, new hires start working for HALF of what current workers make...AGAIN cutting costs, and making the US automakers more competitive as workers--many of whom are baby boomers--retire, quit, or die.
So even before the current recession hit, the UAW and the US auto industry had already put into motion actions which would enhance their chances to survive. The recession and collapse of the credit markets just turned a problem into a crisis.
What we DON'T need is the government in the board rooms of the automotive business. Look at how well that worked out for the USSR.
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Today's Featured Article - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
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