From The Bonddad Blog web site:
Actually, downright stupidity was the primary reason for their current problems. While every other car company on earth recognized that smaller, more fuel efficient cars were the future Detroit stayed with their "everyone loves a truck" theme. As a result, when gas skyrocketed to nearly $4 gallon (and higher in some places) Detroit was hosed.
Then there is the issue of 0% financing, which conditioned the US public to expect 0% financing at all times. That has led to a tremendous erosion of profit potential.
Simply put -- a bunch of morons led Detroit. So -- let's invest in these guys, shall we?
... the rest after the click.
My comment: And then there was the buying public that encouraged the morons who were running Detroit. They'd be geniuses, right? I can't tell you how many times I've found myself in a parking space, wedged in by road hog behemoths and unable to see if anyone was working up a bunch of momentum as I tried to back out of the space. If Humvee and Escalade drivers are feeling the pain, they'll get no sympathy here.
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