The only way out is for 3 automakers to go bank corrupt. Top management gets kicked out, UAW contracts voided. Keep the good parts worldwide and shut down the rest.
After 1973, the auto makers got their warning. They knew that oil would have volatile pricing. They could see VW making efficient cars with the Rabbit, Mercedes making efficient but large diesels. Honda had the CVCC stratified charge engine that made the Civic a 45 mpg efficiency and accelerated faster than the "Mustang II".
In 1980 there was another oil shock. Did they learn? No. They kept on making drab cars sharing the same chassis like the Cady, Buick, etc. As soon as the oil prices moderated, they came up with the gas hogs like Expedition, Escalade, etc.
I can not believe how Rick Wagoner had the nerve to collect $28M last year while the company was loosing $Bs. What does he know about cars anyway? Nothing but another MBA from Harvard. Probably could not change the oil of a Vette. UAW is no better... blood sucking, even though they knew for a long time that their contracts would wipe the company.
Time for America to let capitalism sweep these inefficient companies into the dustbin of history.
they are mostly in a mess of their own doing, yes the economy is doing a number on them but its not like they were all hunky dory before that anyways.
poor designs and bad products were the doing of the mgmt/professional staff
but on the other hand UAW had things like jobbank...anyone know what that is? and how many people the entire auto industry had to support thsi way..its unbelieveable