What is fair and just in this case?
Trump commanded General Motors to create ventilators for the pandemic. I hold that the federal government should generously compensate GM for this order. I define “generous compensation” as a monetary sum so high that GM would be fools not to make the ventilators if they were offered a contract to make ventilators voluntarily. For example, the federal government could pay double or even triple the price of the ventilators, and on top of that, pay GM for all the money that they would’ve made by making and selling cars that they’re unable to make due to the government’s order.
My lawyer dad thinks that it’s fair for the federal government to pay GM the regular price for ventilators because GM is obligated to help out if called upon by the government during a national emergency. I am defining “regular price” as the price that GM would charge if they were making and selling ventilators voluntarily.
Your dad is being generous. We shouldn't pay GM a penny more than what they cost to make. Let's remember the government is the only reason GM still exists. The taxpayers suffered a net loss of 11.2 billion dollars as a result of the bailout. I think GM owes us one.
The principal that applies here would be how imminent domain is generally handled. In imminent domain you are compensated for your property based on sales of similar properties plus the cost of temporary rental and other expenses. In addition to a percentage above value and expenses there is compensation for punitive damages (emotional attachment and stress).