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A $500,000,000 PROGRAM
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resources, representing in part existing depreciation reserves and other reser\'es set up out of income for reconversion expense and in part profits retained in the business.
PREREQUISITES TO JOB OPPORTUNITIES
It might be argued that any concept of General Motors postwar that is limited to the consideration of production facilities is putting the cart before the horse. That is recognized. But the concept basically involves far more than production facilities. It involves research, engineering, distribution, over-all policy and its administration. These are the fundamentals. They are all preliminary to production — and jobs. Jobs are the result of a combination of capital, management and opportunity. The number of jobs cannot be determined in the abstract by some arbitrary method.
It is important to recognize these facts because jobs are unquestionably a social, economic and political "must" of the postwar period. Undoubtedly the world faces many momentous problems, the satisfactory solution of which will determine whether we win the peace after we have won the war. But the one single problem that affects the happiness and security of — and hence means the most to — the greatest number is: Will there be the opportunity to work?
Hence it is clear that there is far more to the problem than facilities alone. Research must be intensified to develop new products and new techniques. Engineering facilities must be expanded to make existing products better and at lower costs. Capa
ble management must be available. Sound and aggressive policies must be established to insure the most effective assembling of all the component parts of the operating program. All are vital in capitalizing production facilities and expanding job opportunities. All will be given proper consideration.
Such, in general, is the concept of General Motors postwar as it stands at this writing. It is believed to be an aggressive step forward in the evolution of General Motors toward still greater accomplishments. Bold planning is vital in order that business may do its proper part in meeting the demands of the future. The situation demands aggressive action by business leadership along a broad front and to the full extent justified by individual circumstances. The aggregate effect would be to contribute to the winning of the peace and the building of a stronger foundation of free • enterprise as the motivating force of the economy of the future.
LOOKING AHEAD
In evaluating the long-term opportunity. General Motors believes that it is entirely a matter of how we man