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The Virtuous Circle in Autos
This column was originally published on RealMoney on Feb. 13 at 10:18 a.m. EST. It's being republished as a bonus for TheStreet.com readers. For more information about subscribing to RealMoney, please click here.
How do you get your auto stock up? Pretty simple, you fire people. And then you fire some more. You retreat. You become small. And you accept the fact that Toyota (TM Quote) is going to take over the world because it has no legacy costs and is non-union.
Ford (F Quote), General Motors (GM Quote) and DaimlerChrysler (DCX Quote) have done well because all of them have decided to go for profitability. They all have it in reach because they can buy out people and start over.
But they can't be big. ...
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