Should the US bailout the big three automakers?

[Don]

The cost reduction initiatives continue, but at some point in time a business needs to increase revenues, otherwise the downward spiral is only being delayed,......... note the last comment.


Source: Auto Week:

Despite adamant denials from General Motors road-racing boss Steve Wesoloski, anonymous sources insist that Corvette Racing will skip the 2009 24 Hours of Le Mans as the operation looks to cut costs by focusing solely on its move to the GT2 class in the second half of next season.

Corvette Racing's original plan for 2009 calls for the team to race its two GT1-class C6.Rs at the Mobil 1 12 Hours of Sebring to open the American Le Mans Series season, followed by appearances at Long Beach and Le Mans. The team would then contest select races in GT2 to finish the year, before a full-season GT2 effort in 2010. However, sources say that word came down recently to reduce the racing budget, and that cancellation of next year's GT1 outings is the solution.

But Wesoloski answered a call from AutoWeek on Thursday by saying, "It's not true" in response to the rumor, which was published first this week in the British racing magazine Autosport.

"We are still going ahead with our plans for a reduced program of Sebring, Long Beach and Le Mans," he said. "No one has come knocking to tell me otherwise.

"We are, of course, prepared for all eventualities. It all hinges on what happens in Washington [with financial bailout talks]."

At first glance, eliminating Le Mans from Corvette Racing's schedule seems unlikely. The team's budget is in place for next year, and contracts with sponsors and partner Pratt & Miller are in effect through 2010.

Wesoloski did not completely dismiss the possibility of pulling the plug on Le Mans--if indeed he is ordered to slash costs.

"[The 2009 GT1 operation] would be the place to start," he said. "[But] the difficulty is our sponsorship commitments. Due to the international exposure of Le Mans, it might end up costing us more not to do it."

Speaking at a GM press event in Detroit on Thursday, a high-ranking GM official said the company would quit NASCAR before it quit Le Mans.