Ok, so now President Bush is offering GM and Chrysler emergency loans with very few strings attached. He's given them until March to come up with a plan for long-term profitability. For heaven's sake, they've had 30 years to come up with a plan for that and look where they are now! I don't care how much money you send Detroit it will do no good until you get an entirely new and forward looking management team in place to save these dinosaurs from the ice age.
As soon as the first Toyota or Honda came off the assembly lines Detroit should have gotten the message. Better built cars at lower prices were the signals they all missed. As many writers are pointing out the problem with Detroit is that they build cars no one wants to buy.
Hell-o...!
This mess is going to take a long time to resolve but it has to start with housecleaning at the top.
Giving these guys more money to use in the same old way is paving the highway to hell.
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