“Ross said that we as a nation are to blame for GM’s problems (I am not making this up) because we do not have a national industrial policy. The US allowed other automotive companies to build plants in states that had lower labor costs, and that is the reason GM is uncompetitive. GM pays an average of $33 an hour, and those selfish other companies pay a mere $19 plus a host of benefits.” – John Mauldin (link). Thanks to Cluster Stock for the link. (Image: Graph of GM from 1962, with a peak at $87 in 1999, to the recent price of $3.10 during after hours trading).
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