How to "Bail Out" Detroit

The second one sounds wonderful, except most people would not be able to pay their mortgages (or much of anything else) on minimum wage.

My idea: The first step would be bringing jobs back to the United States. They get money for every job they bring home. The UAW gets to keep their existing plants under two conditions: (1) freeze pay / benefits for a set time (2) do not organize or attempt to overprice the returning jobs.

Don't worry. It won't happen.

Interesting ideas, as long as there is new management at the big 3.

The whole top few levels of management need to be brought in from outside the auto industry. The culture there is incestuous, and that prevents importing any new ideas or concepts. They just do things that way because they have always done them that way.

There should absolutely under any circumstance be no money from the government unless two things happen...
First, all management and CEO salaries are capped, no bonuses and an acceptable pay rate be established, based on the time they work ( no more million dollar parachutes nor bonuses).

Second, there must be a renogiation of Union wages and benefits. If and when the comapnies are back in a stable format, and before any management or CEO recieves a raise or benefit, these contacts can be renogiated and concessions made on both parties' behalf.
Until then, I do not want one dollar of US taxpayer money to go to these companies.
If they go into bankruptcy, someone will buy them that hopefully knows enough about running a business to ake it work.
heck, if the Unions know how they should be run, let them buy them and turn them in a "people's company", let them put their money where their mouths are.

I think they should follow the AMC model and......uh never mind.File bankruptcy and restructure the company.Also change leadership.You need strong leadership in that can make tough decisions without caving in to any group.

The whole culture of car making needs to be revised. There can never be any fundamental changes until their business model changes. It seems their culture was defined by Ford when he said "...any color you want as long as it's black..." or the "what's good for general motors is good for the USA..."

It's their arrogance that has gotten them where they are. For years, they have tried to shape American tastes toward their cars, while the foreign car makers have shaped their cars toward American tastss. The Japanese cars originally failed miserably until they took this lesson to heart. Until they figure out the American market is no longer the one they have designed their business to pursue, they will NEVER be successful.

Perhaps the only good way to save the old US brands is to offer the employees of those corporations a loan to buy the business. Let both UAW and management members put up their own assets for collateral to save their livelihood. If both sides were owners, perhaps the US brands would be run like world-class businesses.

As many of the CEOs of the failed banks had to put up a substantial amount of money to become CEOs, this would certainly change perceptions.

I guess it's chapter 11 or nothing. Link