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wcaseym (77.33)

Burn Detriot, burn!

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November 17, 2008 – Comments (3)

Well, ... over the last ten years, GM and Ford - collectively - invested $485 billion dollars without closing the competitive gap versus Japanese carmakers, including those producing vehicles in the U.S. Along the way, their combined market capitalization fell by over $110 billion.  Who knew?

Just Say No to Detroit

http://online.wsj.com/article/SB122669746125629365.html 

C.

3 Comments – Post Your Own

#1) On November 17, 2008 at 12:20 PM, jgseattle (30.62) wrote:

great article, could not agree more.

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#2) On November 17, 2008 at 12:47 PM, GNUBEE (24.13) wrote:

That's their secret weapon.

Cars that run on dollars. Just think Zero imported oil for cars!

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#3) On November 17, 2008 at 9:12 PM, rd80 (98.04) wrote:

IMHO, Michael Levine's piece in today's journal is much better.

Mr. Levine very effectively argues the case that allowing GM to go into bankruptcy is a much better option for saving the company than stringing it along with gov't life support.

The summary:
"GM as it is cannot survive without long-term government life support. If it gets that support, it can't change enough and won't change fast enough. Contrary to Mr. Wagoner's brave declaration, bankruptcy is an option. In fact, it's the only option that merits public support and actually has a chance at succeeding."

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