The Big Three

December 2, 2008 at 10:43 am | Posted in Economy | Leave a comment
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Head-on view of an Edsel convertible, manufactured by the Ford Motor Co., 1957

Head-on view of an Edsel convertible, manufactured by the Ford Motor Co., 1957


Steve Benen has the dope:

Well, today’s the day in which the Big Three will turn in their homework assignment to lawmakers. Most reports indicate that the automakers will emphasize dropping multiple car brands and models, thereby streamlining the business considerably. That, of course, will help save some costs, but won’t represent the fundamental restructuring that seems necessary.

Innovation has not been a hallmark of the Big Three, a prime reason why taxpayers are now having to bail them out. Again.

Congress and previous administrations have encouraged this lack of innovation by by failing to require higher standards of efficiency in the past. That has to change, starting with this bailout.

(Photograph courtesy of The Library of Congress)

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