GM

The New York Times has this report on the continuing decline at General Motors:G.M. to Cut 30,000 Jobs and Close Some Factories. That’s a lot of jobs, and the whole strategy smacks of retreat. Looks to me as if G.M. has decided that it has to make do with a smaller share of the market permanently. I wonder whether Ford will slide down too. The decline of a giant like G.M. is the fault of its management, not the workforce, yet the workers always pay the price: lost jobs, lost pensions, and disrupted — if not destroyed — communities. I doubt that the executives that caused all this have suffered too much. Failed management paying the price? That would be un-American.