Monday, December 8, 2008

7 myths about Detroit automakers

This is an interesting article about the automakers. Admittedly, it is from the Detroit Free Press which may not be a completely unbiased source. But assume that all these myths are indeed myths.

Myth No. 1: Nobody buys their vehicles

Myth No. 2: They build unreliable junk

Myth No. 3: They build gas-guzzlers

Myth No. 4: They already got a $25-billion bailout

Myth No. 5: GM, Ford and Chrysler are idiots for investing in pickups and SUVs

Myth No. 6: They don't build hybrids

Myth No. 7: Their union workers are lazy and overpaid

Then why are the automakers is such trouble?


  1. I just read an article in Time this week about the Detroit automakers and actually found some of the facts pretty interesting... I still don't know which side of the fence I sit on though...

    The fact that workers get paid $49 to $71 an hour for a skilled trade position is mind blowing... (considering in nursing I have to have a college degree and am responsible for human lives and don't fall in that bracket at ALL!) Yeah, it irritated me reading that...

    HOWEVER, I recently needed a part for my Saturn (a whole mount: cruise control, air bag, horn) and it's on "back order" for 3-4 months! Apparently I may be a victim of the trickle down effect of this crisis... suppliers pulling business and wanting cash up front makes it VERY difficult for little people like me to replace important parts of my car!


  2. In Southern California it is not unusual for an experienced nurse to get paid close to $50/hr. Of course, then you have the high cost of living in SCal to content with.

  3. Now you understand why I've been in favor of the bridge loans.