Amtraking Automakers

The odds that the federal government will ever get its hooks out of Chrysler or General Motors are slim to none, regardless what President Obama says. Why?  In one word, Amtrak.   There are reasons why Chrysler and General Motors are failing, and they have nothing to do with hard luck.  Both companies are top-heavy, paying more for union labor (and retirees) than their competitors and, since the 1970s, have turned out cars that consumers want in dwindling numbers.  The Big Three (that includes Ford) have higher costs and have gotten an image as lower quality than some foreign competitors. Toyota and Honda have gotten technology, design, quality, and value right more often. And they build cars on American soil.  Though both companies are experiencing downturns in sales, neither is looking for handouts (to its credit, neither is the struggling Ford Motor Company).  In Wednesday night's press conference,...(Read Full Article)