“The combined equity valuations of Chrysler, Ford and G.M. total less than $6 billion, which is not even a fifth the valuation of Honda and only about a twentieth that of Toyota.” (Source: NYT, 11/25/08)
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I’ve had talks about this w/ my family and have read a few articles about it. I think the best thing to do is prob replace all the people in upper-management and bring in the best people for those positions, but at the same time keep as many factory workers as possible on a reduced hourly wage. If the top brass are self-motivated and competent leaders, it will foster an environment in which the workers will feel encouraged to achieve also.