Monday, November 17, 2008

Central Virginia Connection Alert to the Auto Crisis

As I watch Rick Wagoner,Chairman of GM, testify before Congress I watch another homegrown kid on a national stage. Let me begin by saying that Rick Wagoner, Chairman of GM is a nice man. A local kid, Rick was salutorian of Tucker High School's class of 1973 and attended UVA. He has local family and is supportive of our community and schools. I recall a short conversation I had with him at a Henrico County School function about six years ago when I asked him why there wasn't more choice in smaller fuel efficient cars coming out of GM. His answer paraphrased from memory-People say they'll buy them but consumer demand drives the product and Americans demand larger vehicles. Sigh...
If your like me and want to learn the back story, the book below, without a crystal ball, totally nails today's auto crisis. I hope someone has the author on a job short list post the eventual structural reorganization of the auto industry. As with most quagmires, this newest financial blackhole didn't happen overnight and won't quickly abate. Hold onto your wallet...
The DAVISReport
Doubleday Books | The End of Detroit by Micheline Maynard

1 comment:

Rob said...

The trick is obviously putting immediate consumer demand aside based on the association of risk [the vulnerability of the economy based on the instability of oil]. Creating a huge PR campaign that outlines the dangers of staying with oil would drive consumer interest, so to speak [wasn't BP embarking on their green campaign a few years ago?]. It would take a lot of work but using immediate consumer demand as an excuse clearly shows a lack of regard over risk that probably continued until the present day.

--Rob Smith, III