In the middle of all the auto industry news on Monday, Michigan Gov. Jennifer Granholm was everywhere in the media. Sadly, most of what the Democrat said was nonsense. Gov. Granholm repeatedly praised outgoing GM CEO Rick Wagoner. Even worse, Gov Granholm assured us that the American auto industry was in the middle of a dramatic retooling for the new millenium.
It's fine and dandy for the governor to cheer for the home team, but she shouldn't do so at the expense of reality. The American auto industry has spent the last few decades fat, dumb, and happy. They allowed the Japanese to get ahead of them in the game, not due to some nefarious plot from the UAW but due to their own idiotic inertia.
The U.S. auto industry has felt it would have a license to print money with SUVs and the like, without a care in the world for the fuel efficiency and quality of their product. Their day of reckoning is here. GM and its ilk failed to go into the 21st century, and despite Gov. Granholm's silliness, it will probably not survive in anything resembling the same form.