Lessons Learned

I definitely recommend the book "Crash Course" by Paul Ingrassia.  The author provides an excellent insight as to the ills of the auto industry, its perennial denial of these problems, the distrust between unions and management, and the ultimate day of reckoning.  The auto industry's crash was truly the result of "hubris borne of success" that Jim Collins expounds upon in "How the Mighty Fall".

How many businesses can survive by paying workers 95% of their compensation by not working; by offering lifetime health insurance at no cost; providing executives with two new leased cars per year; by having such ridiculous work rules so that workers wait and draw overtime pay until the person with the right job title fixes a broken machine?

Hopefully, the auto industry has learned from its close brush with death.  However, its history and track record would seem to indicate otherwise.  At times, I found myself shaking my head at those heading the auto ship as it steamed full ahead towards the waterfall of collapse. 

Nevertheless, there are many lessons that we can learn from studying this storied and troubled industry, both from a professional and personal perspective.