Gas and go: Out of business
By Derrick Z. Jackson | Saturday, June 7, 2008 | The Boston Globe
“…executives at Ford and Chrysler did not sober up from SUVs until $4-per-gallon gas made them cry uncle. Their binge drinking of petroleum cost the American auto industry 300,000 jobs between 1999 and 2007, dropping to 820,000, according to federal statistics. Michigan plummeted from 316,300 auto jobs to 173,600. GM alone has lost $54 billion since 2005, according to Agence France-Presse.
As Asian automakers focused on smaller, fuel-efficient cars, Detroit kept feeding American delusions of unbridled power and limitless privilege….”…BS
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