Now, what they did not do was address the growing energy problems that have been known from the early 1970s.
They were warned back then but they prefer to sit on their hands for 30 years. 30 years!!! Imagine the time for R&D could have done in those time. They had the power to change the course of history but retooling was out of the questions. They said that many times before and now they want us to feel sorry for them? I think not.
As for letting them go and letting startups pick up the slack with alternative fuel vehicles. That just won't work as the infrastructure to make that scenario work with any scale would require massive investment from somewhere [China, India, Saudi Arabia, UAE???]. If we are going to be energy independent our best bet is to gamble on the Big3 with a really tight leash to go that route. They can retool quicker, have the engineering staff in house and the skillset to actually move metal. Right now, most of the startups are in the "move proposals and grants" stage.
That is not entirely accurate. Many of these startups do not require retooling legacy equipment at all. One more benefit to the startups is that they at least without the hindrance of labor unions.
What's wrong with foreign investments? Here is one that has gotten little press attention but nonetheless will give the Big 3 a run of their money in the near future. And to my point, there will always be willing industry to replace the out going ones. Throwing good money after bad decisions just plain makes no sense. The growing ranks of startups will increase, no matter how much the Big 3 tries to stifle them.
Electric Car Start-Up, Fisker, Opens Huge Center in Michigan : Gas 2.0
Love em or hate em, the Big 3, in some incarnation needs to be part of the future of this country's economic resurgence. We need something with mass and momentum that can move large blocks of economic growth quickly and that is one of the best, quickest opportunities.
No they don't. There will be others to follow:
Shifting Gears: Recent Changes in Indiana’s Economy
As to your point in economic growth, I just don't see that happens coming from the Big 3. Didn't happen last year, the year before, 5 years ago. Then what makes $25B will change the course over night? As for manufacturing jobs, its is a nostalgic idea. Much like reminiscing the days of the drive ins.
Please name another sector that can provide as much economic push as this industry to help stabilize and grow an economy. I frankly cannot think of any.
I still don't see where the co-relations you mentioned that auto industry plays a part of stabilizing and growing the economy. If nothing else, I see the dinosaurs dragging the economy down. If they are growing, why are we having this bail out discussion?