Save the Chevy Volt

Last time I checked, the US has 14,947 airports, China has 467; the US has 226,612 km of railways, China has 75,437; the US has 6,465,799 km of roadways, China has 1,930,544 km.

The strange thing is the big airlines (AA, UA, Delta), big auto makers (GM, F and Chrysler, known as the Detroit 3) and Amtrak are all in bad, bad financial shape.

The Detroit 3 are now requesting government assistance. The 3 CEOs last time jetted themselves to the Capitol Hill, seeking $25 billion federal loans collectively. They came again for $34 billion today by driving their brand cars, after selling off their corporate jets and voluntarily reduced their salary to $1 per annum. GM's Rick Wagoner, for example, took the wheel in turn with his staff on the Chevy Volt, the electric car.

Here's GM CFO explaining the situation.

According to a CNN poll, 61% of Americans oppose the automaker bailout. Harmony is never the virtue of American Capitalism. The Dow Jones Industrial Average first appeared in 1896, no wonder that all but one company on the list disappeared over the years.

One more piece of information for your consideration: the Detroit 3 have been for years losing market to the Japanese, Korean and European competitors, who are building transplants in the US. In other words, 61% are willing to risk letting go their national brands and live with Nissan Altima and Volkswagens.

I can't help wondering what if the same incident happening in China? What will the government do, say, to the big state owned enterprises (SOEs) in trouble? How to save all those jobs at stake? How Reform Worked in China?

There's a lot to think about, though what definitely not to do is this.