What happened to the steel industry in the 70's is being repeated with the

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auto industry today.At that time, U.S. Steel was the King of the Hill, the first American corporation to break the billion dollars a year sales barrier.There was even a popular saying "as strong as US Steel".The end came for US Steel and the entire US steel industry in a matter of one decade.By the mid 80's American steel companies were bad jokes.Both the management and Unions were constantly locked in battles trying to outdo each other in who can damage the company the most.Now it is all over for the entire industry.Many of the same corporations are either closed or sold piecemeal to others and workers in Pittsburgh, Ohio,Indiana have all but disappeared along with once busy communities.

A similar situation is unfolding with the domestic auto industry.The players are almost carbon copies of the steel indutry.Management,shortsighted, ceding competitive ground to foreign competitors and blaming the Unions for their exorbitant wage demands. The Unions, used to getting their way when times were good,keep on making similar demands when the entire industry is on its death bed.


Now we have new factors like creative accounting hastening the demise of our auto industry.The Delphi corporation, an evil spawn of GM, has been cooking its books for the past few years and looks like it may be the next Enron/Tyco/Worldcom.At the same time,the Japanese are introducing Hybrid vehicles which have waiting lines stretching to years and the increase in the price of gasoline all but assures them market dominance in the next five years.GM's Pontiac and Buick lines are going to bite the dust by their own admission.What will be left will be the carcass of a once great company that not merely symbolized American dominance, but meant livelihood for generations of American families.The death watch has begun.