Oil Reserves in Doubt by Michael P. Whelan
Read about largest oil terminal in the world, Ras Tanura
General Motors and Ford are scraping by, trying to sell the cars of yesterday to the citizens of tomorrow. It isn't working.
Thus contends a brilliant column, The Big Three Drive on 'E' by Jack Lessenberry that has nothing to do with politics and everything to do with Michigan's future. Jack discusses Hit 'em where they ain't by veteran auto industry watcher Jerry Flint contending that "General Motors and Ford can't compete head-to-head with Toyota and Honda, not any more. To survive they must change tactics and act like underdogs." (Jack also interviewed Jerry Flint on Michigan Radio)
Lessenberry's contention that the Big Three will never again be the mainstay of Michigan's economy is surely something to consider as we watch GM attempt to maneuver its way to stability and Ford gives itself an $18 billion bailout. If you're craving some kind of humor in the depressing story, check Breaking The Bank! Ford Puts Up The House And Barn, Seeks $18 Billion In Credit from Ray Wertz at Jalopnik. His take is ... original.
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This article from Crains via Grow Detroit says pretty clearly that (absent major changes) things will be getting worse for the Michigan auto industry:
http://www.growdetroit.com/blog/?p=124
"In their annual forecast, economists from the University of Michigan predicted in an increasing unemployment rate, culminating in an average of 7.7 percent unemployment in 2008: “Economists expect the state to lose nearly 30,000 manufacturing jobs next year and 24,000 in 2008, with about 70 percent of the job losses coming in the auto industry.”
55,000 MORE jobs? It's way past time to act. What will it take to turn "We need to do something" into actually doing something?
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