This current economic crisis has been an enduring one. Thanks to unprecedented housing boom and then the subsequent bust, the crude oil bubble and the credit crisis. The crude oil boom was the last straw that, the once-largest US automobile company, GM was waiting for even before it was threatened by rapidly market-share-winning Japanese car models. People reduced driving living-room-sized SUV's in droves () even before the gas price hit $3 a gallon.
Now where does the great UAW fit in the picture?
You might be at haste in retorting, why the hell should I care about this damn UAW or GM. Not so fast, do not forget the well-paraphrased line from generations ago, "What is good for GM, is good for America".
Let me fit all of the above in a capsuled-sized sentence about why this topic is important for all of us. This recession has effected each one of us in one way or another.
A must read:
Where Would General Motors Be Without the United Automobile Workers Union?