After the Banks it is now the turn of the Car companies to seek the bailout funds being handed out in USA. But before handing out any money to the Car companies the US government should force the 3 automakers to merge into one single company, give them funds to continue in business, but dismiss the entire top management and give out a management contract to Toyota or some such innovative foreign auto company with the mandate to revamp the production line to start making sensible, fuel-efficient cars which the customers can buy at affordable prices and run with less damage to their purse and environment.
GM, Ford and Chrysler should go out as brand names because those brands are dead. The government should get majority stake for the investment and the auto-workers should get shares as part of the compensation for their promise to work for less wages in future. They will then have a stake in the success of the venture.
This type of nationalisation may be better than throwing good moeny at bad manufacturing and management practices and losing, just to keep jobs going. That will only postpone the inevitable.
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