I could care less if the Big Three were to disappear overnight. For decades they’ve existed as marketing and financial bureaucracies–not car companies, putting out shitty products propped up by nostalgia, misguided patriotism, cheap fuel, and cheap money. In the meantime, their foreign competitors have innovated, diversified, and invested wisely, building their brands over years, if not decades. The American automotive industry seems to be institutionally incapable of learning anything; it’s time to stand back and watch those institutions implode. This doesn’t mean we won’t have an automotive industry; it just means that new companies will have a chance to grow and innovate without being overshadowed by these soulless monstrosities.
However, I’d be perfectly happy to have the Feds relieve them, and American businesses in general, of the twin clusterfucks we know as defined benefit retirement plans and employer-based health insurance.