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http://www.forbes.com/2008/07/17/gm...0717automistakes_slide_2.html?thisspeed=35000
Detroit has made several amazing comebacks in the past 25 years. The original Ford Taurus, the Chrysler minivans and LH sedans, and a slew of new models from General Motors' Cadillac division revitalized their respective companies.
U.S. carmakers are still pumping out winners (GM's Chevrolet Malibu, for one), and yet the Big Three are in worse shape now than in the dark days of the early 1980s. In mid-July, General Motors (nyse: GM - news - people ) announced a new round of cutbacks. Surely more bad news is on the way in an industry burning through cash at an alarming rate.
The problems go beyond exchange rates, closed foreign markets and legacy labor costs. Nor are they solely the fault of rising gasoline prices--$4 gas hurts all automakers.
Detroit has made several amazing comebacks in the past 25 years. The original Ford Taurus, the Chrysler minivans and LH sedans, and a slew of new models from General Motors' Cadillac division revitalized their respective companies.
U.S. carmakers are still pumping out winners (GM's Chevrolet Malibu, for one), and yet the Big Three are in worse shape now than in the dark days of the early 1980s. In mid-July, General Motors (nyse: GM - news - people ) announced a new round of cutbacks. Surely more bad news is on the way in an industry burning through cash at an alarming rate.
The problems go beyond exchange rates, closed foreign markets and legacy labor costs. Nor are they solely the fault of rising gasoline prices--$4 gas hurts all automakers.