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 - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
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