An interesting article from the New York Times regarding the failure of Detroit. The highlight of the article is where they lay the blame for the failure of the system….. where it belongs! With the leadership that took the opportunity to line their own pockets instead of actually leading. From the article….
Who was to blame for this? Not the unions. They did what they were supposed to do: ask for higher pay and more benefits. No, the fault lay with the top corporate managers: it was their job, as capitalists, to deny such increases if they were not justified by productivity trends.
via What Really Ails Detroit – NYTimes.com.
Thanks Kim for pointing out the original article.