My friend Random Sparks in his Zenpotluck blog suggests an alternative to investing in the traditional auto industry to keep them afloat. Instead he advocates investing in new companies that are trying to build the cars of tomorrow, rather than the cars of yesterday:
Upon reading about todays new $34 billion bailout plea by the Big 3 US auto makers, complete with pay-us-or-have-a-Great-Depression scare tactics, I felt compelled to send the following letter to my state representatives and the Obama transition team:
The potential bailout of the Big 3 US automakers raises an interesting question. What would small, emerging automakers do with the $34 billion bailout that the Big 3 are now requesting? Rather than simply giving the money to GM, Chrysler and Ford, I suggest opening a bid process to ALL US automakers, and granting investment capital to those who offer the best proposals, Big 3 or not. There are so many contenders. Here are just a few: Tesla Motors (www.teslamotors.com) Myers Motors (www.myersmotors.com) Aptera (www.aptera.com) American Electric (www.getkurrent.com) Tango (www.commutercars.com) I think that if the Big 3 needs to compete against innovative startups for their own survival, they will be more likely to develop greener transportation alternatives. Simply giving them the money would invite more of the same. I am confident that the Big 3 can compete in this marketplace if they summon the will to do so. But in any case, American auto workers and citizens will be much better served if the end result of this government investment process is a new industry - with new companies if necessary - building future-thinking vehicles. Thank you for your consideration and anything you can do to circulate my suggestion to governmental decision makers. We have a huge opportunity here if we just show the courage and determination to do it right.
