With this Op-Ed in yesterday's New York Times, Mitt Romney, the former Republican governor of Massachusetts and Republican candidate for president, showed that he gets it.Romney, native of Detroit and son of an auto executive, makes the case that "a managed bankruptcy may be the only path to the fundamental restructuring the [auto] industry needs." It is likely the only way that excess costs can be shed to make American vehicles competitive.
If the Big Three "get the bailout," Romney says, "you can kiss the American automotive industry goodbye. It won't go overnight, but its demise will be virtually guaranteed."
On the other hand, "without the bailout, Detroit will need to radically restructure itself. . . . Detroit needs a turnaround, not a check."
You got that right Mitt!
While Romney may have been fared no better than Barack Obama in November's election, wouldn't it have been nice to see a conservative try?
5 comments:
PJB.
LOL.
What they need to do is stop spending money building cars that no one is buying. Shut all the plants down immediately. Spend all of there resources on R&D of new, green, 21st century vehicle lines, that are desirable not only in the U.S., but in Asia, Europe, Africa, and South America as well. Convert the plants to produce the new vehicles, and start production again.
Will it hurt plant employees. Yes. But if they don't do it, those companies are going to go bankrupt all the employees will be out of jobs permanently, rather than for a year or two.
LOL - You supported him in 92!
Get back to your roots!
SW
Yo S.W., were you even out of the womb in '92?
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