I’m one of the people who thinks that a controlled Chapter 11 Bankruptcy for the auto industry is what is needed. It would force them to fix their flawed business plan. When something is failing, you don’t just pour money into it, you fix it. For example, during 2007, Toyota and GM sold approximately the same number of cars (9.3 million cars and trucks), but according to Hoovers.com, Toyota made a profit of $17,146 million dollars and GM lost $4,390 million. It seems to me that the problem is not the recession–it is the business plan.<\/p>\n","protected":false},"excerpt":{"rendered":"
I’m one of the people who thinks that a controlled Chapter 11 Bankruptcy for the auto industry is what is needed. It would force them to fix their flawed business plan. When something is failing, you don’t just pour money … Continue reading