Economic Perspectives

Second Quarter, 2012 Edition

 

Detroit back from the brink? Auto industry crisis and restructuring 2008–11

Thomas H. Klier, James Rubenstein

While it is hard to say how much of the current auto sector recovery is attributable to government intervention, the ensuing restructuring of the Detroit Three has substantially changed the industry in the U.S.

Source: Chicago Fed

Category: Economy, Think Tank

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One Response to “Auto industry crisis and restructuring, 2008–11”

  1. FrViper says:

    Fairly ‘balanced’. Problem was failure to negotiate contracts that kept the industry competitive and negative Working Capital which predicted the eventual failure – both management issues.
    The ‘also’ real losers were the salaried retiree’s that lost health care and other benefits while the unions got ownership rights and a VEBA.
    Real country problem is the continuing loss of manufacturing jobs and expertise!