Monday, March 30, 2009

As goes General Motors, so goes the nation - another unemployed old guy

"As goes General Motors, so goes the nation." This quote, often attributed to one of my heroes, Lee Iacocca, is more accurate today than ever.


Nearly 15-million people in the U.S. have lost their job since late 2007, with 10-million, or two thirds, being men. Unemployment for black males is near 20 percent, near 40 percent for black males under 25.


So when President Barack Obama sacked Rick Wagoner, General Motors’ chief executive officer, Monday, March 30, 2009, it made Iacocca’s prophecy truer than ever. Another older American male without a job. "As goes General Motors, so goes the nation."

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