Megan McArdle has a column on how the big three automakers crumbled. Bottom line:
I don’t think there’s much point in trying to figure out whether management or the unions are responsible; the fact is that they both drove all of the bad decisions that the company made, even as they were both also mostly reacting to actions by the other side that had left them little choice.
Also, troubling (if unsurprising) signs that things are no better post-bailout.
Internet Scofflaw 