Professor Mark J. Perry's Blog for Economics and Finance
Posted 9:21 PM Post Link
Links to this post
That's my favorite quotation, and I've got it posted by my desk. I get tired of hearing "But, that's how we've always done it!" And, I feel like shouting, “It’s not the same world that it was before!” Too many people will not leave their familiar comfort zone. I saw the handwriting on the wall for American manufacturing when I was walking a picket line at the GM Flint Metal Center plant in 1998, so I re-credentialed myself for less GM dependence. I hope more people come up with a “Plan B.” I can’t see GM supporting 1 million retirees and active employees in the future on less than 4 million vehicles sold per year (17.5 million annual US vehicle sales /5 = 3.5 million vehicles). Since no automobile manufacturer in a mature market garners more than 20% of the market, where’s the money to support that many people going to come from? I see drastic cuts looming in the near future.
Post a Comment
Create a Link
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan.
Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
View my complete profile