No.
Rebirth under Chapter 11 is the proper way to go. Otherwise, we're only prolonging the inevitable. The American automotive manufacturers can not be competitive with their competitors in the market unless we allow a dramatic restructuring of the entire domestic industry.
Throwing bucks at GM, Ford, and Chrysler as they now operate will be money down the toilet. The only people think a strategy like this makes sense are various Dems/Lefties/"Progressives", whose motivation is to preserve the largess accumulated by a semi-powerful Big Labor ally, the UAW, who are intent on keeping the sugar coming for their dues paying members.
My favorite automotive journalist, Brock "The Assassin" Yates, had it pegged exactly in this Car and Driver column three years ago.
Excerpt:
"If any vestige of the American automobile industry is to survive, it must involve state-of-the-art vehicles that are not equal to but surpass the best imports in every way. They must be conventional passenger cars, not trucks or SUVs, because sedans are at the core of the market and will remain so for the foreseeable future. Such vehicles can only be developed and sold in a growing worldwide market by smaller, leaner, meaner, more energetic and creative teams of men and women in the Motor City. It will require ugly confrontations with the UAW and the corporate retirees as well as the dealer organizations and, in some cases, inbred customer groups, but the Armageddon must come if any chance of survival exists.
Can it succeed? Perhaps, but the clock is ticking perilously close to doomsday."
Remember, this was written three years ago, and the basic truth of this matter has been known for decades.
There's no other way.
Let it begin.
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