East Lansing is doing ok. Most businesses here have a relatively captive audience(students on foot) and are mostly just (cheap) restaurants and liquor stores.Agreed. The big 3 has been trying to hang on to their hayday for years. The credit bubble just helped them stay afloat with imaginary money.
IMO, and I'm sure people will hate me for saying this but, unions have a huge part in this particular case. Unions have slowly sapped the industry to a point where we can't be competitive any more. Do you think unions are popular in China and India?
BTW, shady, how's East Lansing fairing through the economic storm out there?
The city of Lansing itself is not doing near as well.
As for the unions, I can agree with that. I generally support them but UAW is insanely powerful, and had a long time where they were simply asking for (and receiving) wayy too much in the way of benefits/cash considering the level of skill assembly line workers(a lot of their base) needed.
That said, they did concede a LOT of thigns without a fuss when it was clear the company was in trouble. But the damage was done imo.