BIG 3: Bankruptcy + R&D = Success

American Resources recently provided a solution for the ailing BIG 3. Bold steps are necessary to save the American auto industry.

American Resources writes...

Solution Overview

It has been an interesting folly to watch Congress struggle with the problem of how to “save” the American automobile industry. I don’t know what was more frustratingly amusing; the arrogance of the government, believing it is has the resources to directly fund a huge segment of the American economy or the arrogance of the Detroit executives, believing their companies in their current form are so important to America that a simple request entitles them to a loan without a business plan.

It is clear that nothing short of a complete financial and technical reorganization of Detroit will save it. Detroit still has enormous physical and human resources. But they need a massive shake up.

Step One: Bankruptcy

Bankruptcy isn’t fun, but it is a necessary element of free enterprise. Without it few would be willing to take the risks which have produced the dynamic American economy characterized by constant invention, reinvention, death and renewal.

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