The Big Three died because they were arrogant, poorly managed, and gave their customers the kind of cars they thought their customers should drive
That and their problems with the unions (but that's partially the management's fault as well since they did agree to the contracts that gave the unions power, OTOH they feared strikes and labor unrest more than they did foreign competition, which made sense a half century ago)
But when business decline and shrink, or fail, because of poor management and other factors, it frees up resources that other businesses can use. The extent this has happened has been decreased by government bailouts, but its still occurred to an extent. The labor, and other resources freed up, could have been used for different companies, but that hasn't happened to a very great extent, and a large part of the reason is the tax, regulatory, and union, climate in MI. |
