Which Gas-guzzling Dinosaurs?

A lot of car guys don't appreciate New York Times foreign policy columnist Thomas Friedman setting up as an expert on the auto industry.  He allowed as how he thought Toyota should take over the bankrupt General Motors.  It would be in America's economic interest and its geopolitical interest. You see, writes Friedman, General Motors "based its business strategy on building gas—guzzling cars" whereas Toyota "has pioneered the very hybrid engine technology that can help rescue not only our economy from its oil addiction (how about 500 miles per gallon of gasoline?), but also our foreign policy from dependence on Middle Eastern oil autocrats." The reaction of Detroit News editorial cartoonist Henry Payne reminds me of an earnest young man in a shop selling fine whiskies in Edinburgh, Scotland.  Asked what he thought of a journalist's recent book on malt whisky, he allowed as how "the man's a buffoon; he knows nothing about whisky." Let's see.  According to...(Read Full Article)