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U.S. automakers worked hard to get a recent $17.4 billion loan from the Bush Administration, but now the real work begins, says the author, the Ford Motor Co. Clinical Professor of Business Administration at the Stephen M. Ross School of Business. Automakers have no choice but to accelerate the pace toward a new business model in order to demonstrate they are financially viable by March 31, 2009, according to the government's terms. Fast-paced changes are required at nearly every level of the industry, from labor and manufacturing to suppliers and dealers.
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