Start Ups
Thomas Friedman has a better plan for a stimulus
G.M. has become a giant wealth- destruction machine — possibly the biggest in history — and it is time that it and Chrysler were put into bankruptcy so they can truly start over under new management with new labor agreements and new visions. When it comes to helping companies, precious public money should focus on start-ups, not bailouts.
You want to spend $20 billion of taxpayer money creating jobs? Fine. Call up the top 20 venture capital firms in America, which are short of cash today because their partners — university endowments and pension funds — are tapped out, and make them this offer: The U.S. Treasury will give you each up to $1 billion to fund the best venture capital ideas that have come your way. If they go bust, we all lose. If any of them turns out to be the next Microsoft or Intel, taxpayers will give you 20 percent of the investors’ upside and keep 80 percent for themselves.
Filed under: Changing World
You have to let nature take it’s course… Just think if we let the auto industry flop how many phoenix would have rose from the ashes… We have an unhealthy aversion to pain sometimes…
It may be true that the auto industry needs a restructing, however everyone is putting the blame on them and asking them to make all the sacrifices.
This is ridiculous considering that Wall Street financial firms and banksters that got us into this mess and will continue to bring us more disasters don’t have anyone telling them to restructure themselves.