Industry in Crisis -- Will the U.S. Automotive Industry Survive?

HOUSTON--June 2, 2005--Researched By Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas). This is not about competition from foreign manufacturers. It's not even about competition from homegrown competitors. It's about the rot within the industry, industry-wide -- the rot that comes from far too many years of complaisance, far too many years of arrogance and posturing, and far too many years of making bad or ill-thought-out decisions -- decisions that, in a smaller industry than the automotive industry, would have brought the house down decades earlier, but that, in fact, were hidden in a super-sized corporate maze, where everybody and nobody took responsibility for decisions and their outcomes. "The Buck Stops Here" philosophy apparently never found its way into corporate America, especially where the automotive industry is concerned. But as always happens, sooner or later, the other shoe has dropped.

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