Bankrate.com, November 26, 2012, Monday

Bankrate.com

November 26, 2012, Monday

Bankrate.com (full article)

How US automakers turned things around

The recent recession brought American automakers to the brink. For a time, it looked like Detroit's glory days were over, as cash-strapped drivers sat on their wallets, enjoying lower auto insurance rates on aging cars held together with bubble gum and chicken wire.

But General Motors Corp., Ford and Chrysler now are posting strong profits. What accounts for the turnaround? In the following interview, Arthur C. Wheaton, director of western New York labor and environmental programs at Cornell University's ILR School, offers some thoughts.