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...Most of these plans were on the drawing board before the global financial collapse made the situation more dire. This, in essence, is a last-chance opportunity. If Congress provides cover, the Detroit Three can try to rescale their manufacturing capacity to their respective market shares - or even below. GM, for instance, has lost 7 market-share points, falling to 22%, in the past 10 years. It plans to slash costs by an additional $7 billion by 2012. "It's all about survival," says Van Conway of Conway MacKenzie & Dunleavy, a crisis-management and turnaround firm in Birmingham, Mich...

Author: /time Magazine | Title: Is This Detroit's Last Winter? | 12/4/2008 | See Source »

...Deal? Not Yet The photo on the cover of your Nov. 24 issue is an O-bomination! Can we please wait to see how well the new President does before we canonize him? Joseph Cortese II, West Des Moines, Iowa...

Author: /time Magazine | Title: Inbox | 12/4/2008 | See Source »

...Great, fun cover! Let's hope in 2012 Obama will be able to relax in a touring car, smoke a cigarette for old times' sake and toast to four more years. Peter Cordel, Colorado Springs...

Author: /time Magazine | Title: Inbox | 12/4/2008 | See Source »

...photo on the cover of your Nov. 24 issue is an O-bomination! Can we please wait to see how well the new President does before we canonize him? Joseph Cortese II, WEST DES MOINES, IOWA...

Author: /time Magazine | Title: A New Deal? Not Yet | 12/4/2008 | See Source »

...Great cover - I have no doubt that Obama will step into F.D.R.'s shoes and make America the land of dreams again. David Landau, PEACEHAVEN, ENGLAND...

Author: /time Magazine | Title: A New Deal? Not Yet | 12/4/2008 | See Source »

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