Saturday, August 2, 2008
News from Detroit. And Madison Avenue.
Once again auto sales plummeted last month--13.2%--to the lowest total since the Bush I administration. Let's see, GM was down 26.1%. Ford, 14.1%. Chrysler down 28.8%.
Those stats got me wondering. I left a great agency some years ago. What percentage are they down? (It seems all they've done over the last few years is cut staff.) About five years ago, a friend of mine left the presidency of a venerable agency--is that agency down 20%, 30%, 40% or more over those years.
The point isn't that misery loves company. The point is that in relatively free markets there is a bit of Darwinism working--you know, survival of the fittest.
These are dinosaurs that are dying. One that runs on dead dinosaurs. One that's run by dinosaurs.
Posted by George Tannenbaum at 9:05 AM