[from Worldchanging] Rebel billionaire Richard Branson has a new green plan for Britain’s ailing Rover auto plant: Head off Japan and the US and start manufacturing hybrid vehicles, spurred by government investment.
As an entrepreneur, I do not believe in governments rescuing lame ducks. I was against the renationalisation of Railtrack, for instance, no matter how unpopular it was as a private company. But as a nation – and as a continent – we cannot afford to throw away an asset like the Longbridge plant and its workforce.
With Virgin Atlantic spending £150m extra on fuel so far this year, Sir Richard clearly has a vested interest in improving the efficiency of his nation’s automobile fleet, but then again, so do we all, even on this side of the pond.