Bricklin Sees U.S. Auto Industry Opportunity To Turn Lemons Into Lemonade

New York November 20, 2008; Malcolm Bricklin said today the auto industry has been given a unique opportunity to show how it can use bailout money not only to reverse its own fortunes, but also to strengthen the overall economy and even help save the planet.

"Congress' request for short and long-term plans from the auto industry before considering relinquishing bailout funds is the most prudent thing the legislature could do. My concern is that the industry will return plans which amputate huge portions of their operations to show they know how to cut costs. But simple cost-cutting is not in the best interest of the industry. The United States needs a vibrant auto industry that leads the world, not one that is simply economically feasible.

It is my hope that the chaos created by the financial crisis has finally created the perfect storm which will allow the industry to develop the innovations necessary to transform itself into a clean, green, mean machine. Yes, Congress should help keep these companies alive so they can open their doors to the many exciting replacement technologies that are available to help the environment and end our oil dependency. Green plans will not only help the environment, but will also support the U.S. economy in many more ways than cost-cutting alone will. And wouldn't that be nice?"