This morning, I was thinking about the loan the auto makers are asking for... In a time where money is getting thrown around in the hundreds of billions, why not lend these guys a hand? I don't have a problem with assisting them in their time of need, but I do have a problem with their serious attitude problem. The Big 3 were asked to come to Washington with a proposal, but ended up there, on private jets, and talking about everything but a business plan. As they say in business, if you don't have a solid plan, you are likely to fail.
So my proposal is this: Congress should tell them they will pick one of them for a generous loan (maybe $18 bil)-- but only one. If they want to win that loan, they will need to present not just a good business plan-- but the best business plan. The plan that would win would include cuts on executive compensation, getting rid of all private jets, a more diverse supply chain, a commitment to electric cars, "truck" MPG standards that meet the standards for cars, and a pledge not to fight EPA standards in states trying to curb air pollution.
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