A metaphor for the U.S.

Since the year 2000, almost 300,000 workers have been laid off in the U.S. car industry. GM is about to lose its #1 position to Toyota and Ford and Chrysler are back in the pack. Sales of U.S. cars are way down. In a short 20+ years an industry that once defined America is on the verge of becoming a second tier player in the global economy. When the car companies were kings here, they helped establish a middle class of blue collar workers and were instrumental in many of the benefits I took for granted when I started in the work force 50 years ago. I think in the post-WWII years, until about the'80s, the Big 3 were basically good for the country. However, those days are past. In short, the leaders of a major world industry will soon not be based in this country.

I believe that the country is following a similar path as the Big 3 did. Basically, the auto companies refused to acknowledge that the world was changing. They preferred to believe that, magically, they would always be kings. They were concerned with what the other two companies were doing, rather than what the Japanese and Germans were doing. They relied on a world where gas was cheap. They seldom listened to their customers and gradually made cars that few bought. So, they appealed to nativism - "Buy American".

What are our political leaders doing about what Tom Friedman has called our decline? Is Rick Wagoner being the Roger Smith of today? His financial performance is worse but, like Smith, tomorrow will always be better. Consider that since 2000, when Wagoner became CEO, GM's market share is down to 12.5% from 25%, the stock is at a 53-year low as it has lost 83% of its value on Wagoner's watch, its bonds are tated as 'junk'. And still he keeps his job.