Auto industries are in trouble

Since U.S. credit crisis last year, many industries, especially banking industries, have been hardly hurt.  
Now, it is auto industries' turn. It is not surprising! Nowadays, the three U.S. auto industry giants are certainly facing financial challenges that left with poor credit ratings, in effect, it is prohibitively expensive for them to raise cash for investment. In addition, because consumers are losing confidence in the market, the sales of auto industries are in record-low. However, those are not the real causes for their near collapse. The reason for their near financial collapse is that "they never changed, basically", according to Koji Endo, Credit Suisse auto industry analyst who has been studying the global auto industries for more than 20 years, "they just kept on keeping their business model: SUVs, and big trucks. They never look into small cars that are fuel-efficient and that fit better to the limited resources in the future." In contrast, because of its business model--fuel efficient cars,  the Japan auto industry is better cushioned than the U.S. competitors in managing the credit crisis and slowing consumer demand.


One Idiom Everyday:
A bird in the hand is worth two in the bush.
(A proverb saying that something you already have is better than something you might get.)