The Japanese auto companies were somehow able meet our ridiculous environmental laws.
Not sure why GM and Chrysler were not able to do the same.
Ford did it, and they did not have to go to Bush or Obama and Beg for Billions.
Further, one of the reasons that foreign competition was so hard on Detroit is:
The competition could build NEW PLANTS and use NEW technology! America was, somewhat, stuck with old fashioned plants and equipment, and upgrading was harder.
Also, I respect Ford for not asking for taxpayer funds, but you are completely WRONG if you think Ford is financially healthy.
In fact, if Ford survives, it will be because Ford will be able to MAKE the SUV’s and trucks that Obama will not let GM make, anymore!
Back to Unions: Unions stand in the way of innovation and productivity. Unions intimidate members to vote and strike and do whatever the bosses want. Unions rip off benefit funds, health funds and retirement funds constantly.
Type “labor union crimes” or “labor union corruption” into your browser!
The energy price fluctuations, on top of the enviro regs, on top of the financial collapse all contributed.
However, if the labor unions had not forced impossible salaries and benefits onto these companies, they would be MUCH better off!
Yes they were. They were use to manufacturing cars to meet even stricter environment standards than the standards that applied in the States.
American companies made a conscience choice to cede the small, more fuel efficient market to the Japs. They may not have been the fatal blow, but it certainly made their situation much, much more difficult.
Chrysler had several Billions in cash until Daimler bought and sucked off all the capital and ruined the product.