Some more thoughts on the proposed Detroit bailout
Articles — By forcechange on December 10, 2008 11:16 am
On the bright side, at least if the Detroit bailout doesn’t lead to viability for the Big Three, their eventual successors are hard at work. Whether the next G.M. is EV infrastructure company Better Place, or some other group of entrepreneurs hard at work somewhere, or maybe Toyota, innovation will ultimately triumph.
But as Tom Friedman notes, “Do not expect this innovation to come out of Detroit. Remember, in 1908, the Ford Model-T got better mileage – 25 miles per gallon – than many Ford, G.M. and Chrysler models made in 2008.” It’s just too bad that the taxpayers have to be on the losing team in this race.
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