Quote:
Originally Posted by inBOIL
Patents will prevent this. You can't just copy someone else's invention and make money off it (recent changes to patent law notwithstanding). However, GM should have been developing similar technology all these years so that they could efectively compete in the economy car market. Instead, they declined to diversify, and when the market changed they found themselves unable to survive. I hope that if congress grants this loan eventually, they'll attach some strings so that the money isn't wasted on things like executive retreats or developing the biggest, newest SUV.
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Patents...good point forgot about the prohibitive legal aspect of that type of thing. A close approximation then. If GM can build a CTS, Malibu or Corvette ZR1 they shhould be able to build something to compete with Accord. I don't think its necessary to ban foreign car companies from operating here, there just needs to be decent Americans cars being made.
I've heard the loans do have strict guidelines attached to them, many that will benefit employees. Still I'm worried all that money will be squandered, given the car companies' track record with money lately. Then the situation will be worse than when it started. It was satisfying to see the car and UAW CEOs getting reamed out by Congress for flying into Washington on fancy private jets, those clueless bastards. Where is Lee Iacocca v2.0 when you need him?