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What's Next — The Louisiana Spin-Off?
There are all kinds of theories about how to save the Big Three automakers. At the radical end of the spectrum: lease them to China.
January 1, 2009
The specter of Detroit's Big Three CEOs begging Congress for handouts has become all too familiar in recent months. At least one observer, though, begs the question: Why is Michigan making cars when it could be manufacturing money? Steve Balkin, a professor of economics at Roosevelt University in Chicago, contends that Michigan could bail out the entire economy. His immodest proposal, which he set forth on a faculty Website: lease the state to China. Could he be serious? Well, partly. "We need to consider new strategies," Balkin says. "Maybe mine will spur some fresh thinking." Read more...
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Print Edition
For companies mulling write-offs, economic turmoil is a terrible thing to waste.
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