Sunday, July 06, 2008

Comeuppance: the decline and fall of Ford and General Motors

"Fascism should more appropriately be called Corporatism because it is a merger of state and corporate power." - Benito Mussolini

Since 1990, Ford and General Motors have protested new fuel-efficiency standards in Washington, because improving gas mileage might make their SUV-dependent business models less profitable. Today's NY Times business section has a great story about how we can essentially thank Ford and GM for $4/gallon gas.

These GM workers were photographed protesting fuel-efficiency standards in 2002. They wanted to continue building the company's ridiculously profitable SUVs:

(Photo by Joe Polimeni, via the AP)

I like the sign that says "America Means Choice." Because now, Americans are choosing not to buy any of their piece-of-shit vehicles.

GM is shuttering several of its truck factories. Another great story in today's NY Times talks about how much it sucks to cough up a Benjamin every time you need to fill your gas tank.

Even Starbucks is worth twice as much as GM these days. Sometimes capitalism works just the way it's supposed to.

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