you hit the nail on the head. Costs were driven up by greedy folks on both sides of the assembly line. Management was short-sighted, focused on the quarterly numbers; union was just plain greedy and treated management like the enemy. The UAW talks a lot about working together, but when the chips are down, they pull out the contract and make mgmnt toe the line.
Notice that ALL makers sales are down, but you don't hear Honda, Nissan, Toyota and others with factories in the US talking about going bankrupt. One reasion is that they don't have the huge legacy costs that prior Big 3 mgmnt agreed to. Health insurance for life? Retire after 30 yrs and get a pension for life? Six-figure buyouts for people to be laid off? NO company can afford to pay out that kind of money forever to people who are sitting on their butts and not producing anything. The UAW killed the Golden Goose and prior Big 3 managers handed them the knife.
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Today's Featured Article - Show Coverage: Journey to Ankeny - by Cindy Ladage. We left Illinois on the first day of July and headed north and west for Ankeny, Iowa. Minus two kids, we traveled light with only the youngest in tow. As long as a pool was at the end of our destination she was easy to please unlike the other two who have a multitude of requirements to travel with mom and dad. Amana Colonies served as a respite where we ate a family style lunch that sustained us with more food than could reasonably fit into our ample physiques. The show at Ankeny
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