klaatu
Fusionist
Im thinking Romney is right on this one ... Pubs messed up not backing this guy.
Emissions * November 20, 2008 * by Cosmo Catalano
Romney Backs Bankruptcy Over Bailout
Former presidential candidate Mitt Romney, who stumped for the revival of the American auto industry just a few months ago, said yesterday in The New York Times that Detroit should not receive a federal bailout.
Romney, a skilled businessman who rose to fame at Bain & Co. consulting, before later engineering a seemingly miraculous turnaround for the Salt Lake City Olympics, has unique insight on the American auto industry. Romney's father George was the CEO of AMC from 1954 to 1962, and became an early advocate for the production and marketing of compact, efficient cars.
Though many sustainability-focused organizations are willing to accept a bailout in exchange for improved fleet economy and a changing of the guard at the executive level, Romney and others including Jack Welch have argued that an infusion of federal cash will only allow GM to further put off the changes it needs to make to be competitive in today's market.
Congress seems disinclined, as they all but told the auto industry yesterdat that a bill to appropriate more loans likely wouldn't happen this year. While bankruptcy is viewed as the end of the road by many, the court-protected reorganization it provides has seen organizations and people from airlines to Donald Trump emerge as more efficient, viable entities. While some counter that no one wants to buy a car from a bankrupt company, I think there's plenty of evidence that if a vehicle provides the features buyers want, it's going to sell.
Emissions * November 20, 2008 * by Cosmo Catalano
Romney Backs Bankruptcy Over Bailout
Former presidential candidate Mitt Romney, who stumped for the revival of the American auto industry just a few months ago, said yesterday in The New York Times that Detroit should not receive a federal bailout.
Romney, a skilled businessman who rose to fame at Bain & Co. consulting, before later engineering a seemingly miraculous turnaround for the Salt Lake City Olympics, has unique insight on the American auto industry. Romney's father George was the CEO of AMC from 1954 to 1962, and became an early advocate for the production and marketing of compact, efficient cars.
Though many sustainability-focused organizations are willing to accept a bailout in exchange for improved fleet economy and a changing of the guard at the executive level, Romney and others including Jack Welch have argued that an infusion of federal cash will only allow GM to further put off the changes it needs to make to be competitive in today's market.
Congress seems disinclined, as they all but told the auto industry yesterdat that a bill to appropriate more loans likely wouldn't happen this year. While bankruptcy is viewed as the end of the road by many, the court-protected reorganization it provides has seen organizations and people from airlines to Donald Trump emerge as more efficient, viable entities. While some counter that no one wants to buy a car from a bankrupt company, I think there's plenty of evidence that if a vehicle provides the features buyers want, it's going to sell.
