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Product details
File Size: 7222 KB
Print Length: 320 pages
Publisher: Random House; 1 edition (December 15, 2009)
Publication Date: January 5, 2010
Sold by: Random House LLC
Language: English
ASIN: B0030P1WS6
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Amazon Best Sellers Rank:
#288,298 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
This is a solid overview of US car industry history that tells a good story and may inspire you to think about business strategy and corporate-union relations. The US auto industry has a colorful history, so the narrative of the book is entertaining. I went right through it on the first half of a flight to Tokyo. So that's the strength of the book.On the downside, I was disappointed that a journalist of such longstanding experience did not appear to have done many interviews or to have gained much unique access specifically for this book. The whole story was related at a somewhat high level as if Ingrassia just went on vacation with his extensive memories of the car business and sort of put it all together. You rarely get the "you are there" details of a book like Barbarians at the Gate: The Fall of RJR Nabisco or the very interesting car marketing book Where the Suckers Moon: The Life and Death of an Advertising Campaign. You don't get interviews with the major players where they look back on events from the 70s and reflect in retrospect whether they did the right thing. The book lacks, in sum, the kind of unique revelations that you might hope to find in a book rather than a long article.Ingrassia is fairly reserved with editorializing. It's hard to avoid the conclusion, though, that the UAW put a bullet in the industry's head. However, it should be noted that management was timid. Management was timid in the face of the UAW's unrealistic demands and the union didn't have the self-restraint not to devour the company in a sick orgy of indulgence and exploitation of investors and the public. The reason management became timid, apparently, was that management was busy stealing (in a sense) from stockholders too, granting themselves compensation and benefits out of proportion to their true value as executives on the open market. So it's a sad story of conspiracy against consumers and investors. The ultimate consequence today is that our auto industry is weak and no one wants to start a new factory in the United States for fear of another UAW. Too bad.
"Crash Course" is a great history of the Detroit automakers--history as in it is over. I also think it has a lot to say regarding whether people are inherently good or inherently bad.Interesting to realize as I was reading this book that generations of Americans lived and died never knowing that the arrogance, greed, incompetence and dishonesty of most of the men who ran the US auto industry killed it off.The unholy alliance between GM and the union is mind-boggling--even though I thought I knew about that, what I read in this book shocked me. Generations of auto workers enjoyed a "workers' paradise" of inflated pay, superb benefits and insane job protections such as the jobs bank. And management right up through the very top loved all of that too because though it was bad for the company, it did not hurt them personally and that's all that mattered.Though "Crash Course" is specifically about the auto industry, it's also a cautionary tale about investing in the stock of any American corporation. Corporate executives are immune from failure, they walk away with millions regardless of what happens to a company, so beware investors.
Years ago I read a great book called Comeback that detailed how the US auto industry failed to see the threat that Japanese imports were doing to market share and how the Americans companies fought back. I still remember the book because it was well researched and well written. It finally dawned on me that this was the same author who wrote Crash Course. Crash Course is as good as Comeback, maybe even better. Writing a book about the history of the car industry is a daunting task and other than great books like Douglas Brinkley's Wheels for the World, most of these automotive histories fall flat.Crash Course is different. The book provides a basic background for each of the automotive companies and hits the high points, but never bogs down. It details just how the American and foreign car companies came to be, how they failed, and which ones may ultimately survive. Paul Ingrassia writes with ease and competence, so the reading is quick and interesting.
Having grown up in the greater Detroit area and having started my legal career there, with some of the significant auto parts suppliers as clients of the firm that employed me, I have a natural interest in the history of the automobile industry, particularly during the years since I left Detroit. I thoroughly enjoyed Ingrassia's previous book, "Engines of Change", and so this current book is of great interest. He has collected a lot of information, including some very telling anecdotes, and has a great manner in telling a story. He clearly is a highly skilled and well connected reporter, but combines that with the ability to put a complicated story together in a way readers can easily follow. To say I "enjoyed" the book is not quite the right word - for obvious reasons. But I did find it very interesting, informative and able to command my interest. I look forward to his next book on the industry, and just hope it tells a happier story.
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