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Crash Course : The American Automobile Industry's Road to Bankruptcy and Bailout--And Beyond - Paul Ingrassia

Crash Course

The American Automobile Industry's Road to Bankruptcy and Bailout--And Beyond

Paperback

Published: 11th January 2011
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This is the epic saga of the American automobile industry's rise and demise, a compelling story of hubris, denial, missed opportunities, and self-inflicted wounds that culminates with the president of the United States ushering two of Detroit's Big Three car companies--once proud symbols of prosperity--through bankruptcy. The cost to American taxpayers topped $100 billion--enough to buy every car and truck sold in America in the first half of 2009. With unprecedented access, Pulitzer Prize winner Paul Ingrassia takes us from factory floors to small-town dealerships to Detroit's boardrooms to the inner sanctums of the White House. He reveals why President Barack Obama personally decided to save Chrysler when many of his advisors opposed the idea. Ingrassia provides the dramatic story behind Obama's dismissal of General Motors CEO Rick Wagoner and the angry reaction from GM's board--the same people who had watched idly while the company plunged into penury.
In Crash Course, Ingrassia answers the big questions: Was Detroit's self-destruction inevitable? What were the key turning points? Why did Japanese automakers manage American workers better than the American companies themselves did? He also describes dysfunctional corporate cultures (even as GM's market share plunged, the company continued business as usual) and Detroit's perverse system of "inverse layoffs" (which allowed union members to invoke seniority to avoid work). Along the way we meet Detroit's frustrated reformers and witness the wrenching decisions that Ford executives had to make to avoid GM's fate.

Informed by Ingrassia's twenty-five years of experience covering the auto industry for "The Wall Street Journal," and showing an appreciation for Detroit's profound influence on our country's society and culture, Crash Course is a uniquely American and deeply instructive story, one not to be missed.

"From the Hardcover edition."

"A fascinating inside look at how ego and hubris destroyed an industry . . . a gripping and riveting must-read."--James B. Stewart, author of Den of Thieves and Disneywar "Crash Course has the feel of a definitive account. . . . It's hard to imagine anyone better than Paul Ingrassia to 'ride shotgun' on a journey through the sometimes triumphant, often turbulent, history of U.S. automaking. . . . [A] wealth of amusing, astonishing and enlightening nuggets."--Pittsburgh Tribune-Review

"In order to understand just how much of a mess it was--not to mention how it got that way and how, if at all, it can be cleaned up--you really need to read Crash Course."--The Washington Post

"Ingrassia tells Detroit's story with economy, vigour and restrained fury."--The Economist

"A delightful mix of history and first-person reporting . . . Employing superb storytelling skills, Ingrassia explains in head-shaking detail the elements of a wholly avoidable collision."--Kirkus Reviews (starred review)

ISBN: 9780812980752
ISBN-10: 0812980751
Audience: General
Format: Paperback
Language: English
Number Of Pages: 306
Published: 11th January 2011
Publisher: Random House Trade
Country of Publication: US
Dimensions (cm): 21.59 x 13.97  x 1.91
Weight (kg): 0.25