Anyone can see that GM is on the verge of extinction, and management is
at fault. Look at their stock price, and the fact that they have offered
a buy out to every single remaining employee. This is de facto
liquidation.
GM and Detroit in general cannot build small fuel efficient cars at a
profit. Toyota and others are smart enough to build assembly plants in
conservative, white - and
often Southern communities, away from urban problems and hire YOUNG MEN
to work, so as to avoid health care and pension costs. Even Lee Iacocca
groused about
this situation. Competition has forced native automakers to offer
buyouts to shed expensive workers.
I can't blame unions for wanting benefits, nor management for trying to
survive. We need a better health care and pension system to remove a
huge competitive
disadvantage. New ideas alone are a waste of time because such can be
easily copied by foreign companies - and sadly, at less cost.
