1) Re-establish and maintain going forward a viable domestic US auto industry capability that can successfully compete domestically and globally.
2) Minimize the net disruption to the US economy while transitioning and recovering.
Goal #1 Implies:
- products that consumers want to buy
- reasonable profitability above the cost of capital
- private ownership
- robust product development and R&D
- efficient internal processes and supply chain mangement
- competes successfully globally
- New executive leadership
Goal #1 Does not Imply:
- any particular target of total sales
- any particular target of jobs retained
- any particular target of brands of models retained
Goal #2 Implies:
– Chapter 11 Bankruptcy
– USGOV assistance post-Chapter11
– Quick – not drawn out
Goal #2 Does not Imply:
– Chapter 7 bankruptcy
- No layoffs
- No plant closings
More to come.