In the 1970’s OPEC began feeling their oats, and they caused a worldwide oil shortage. After this all settled down many reasonable people began moving towards owning cars which got better fuel economy. I already was driving a Toyota when this crisis occured.
Toyota in particular gained fame as a manufacturer of cars which were the very best in reliability and which also got good fuel economy.
In business which companies succeed and which go bust are normally based upon who makes the most mistakes. Lots of businesses are ruled by bozos who make incredibly bad decisions, but they manage to limp on anyway. As long as times are good.
But when more difficult times come around, these poorly run companies are usually the first ones to fail.
The employees of GM didn’t cause this collapse. Neither did their labor unions. The demise of General Motors clearly is due to a long series of bad decisions by top management going back 40 to 50 years. What a pity.
The kindest thing I can say about the top management at GM is: I hope these bastards rot in hell and suffer horribly. But I know better. The top guys have plenty of money socked away in hidden places. The people who will suffer the most are the loyal workers. This is a travesty.
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