Perspective
Sep. 5, 2013
A classic auto industry rebound
One out of every 10 people in the workforce is employed by the automotive industry, making the sector the most significant contributor to the nation's welfare. By Jonathan Michaels
If the U.S. economy has been suffering through a great recession the last five years, the automotive industry has been in a downright depression. In the mid-2000s, U.S. auto sales were bristling at 17 million new car sales per year - a pace that put us on track for a historic 20 million sales by 2013.
Yet in 2008, we learned just how fragile an economy can be, as we watched the 110-year-old Lehman Brothers topple into bankruptcy, t...
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