Something my fellow Californians should take to heart:
This is the lesson of GM's bankruptcy, and it has little to do with market share and miles per gallon. It's a rebuff of the notion of exceptionalism. Any organization that fails to sufficiently safeguard its means of self-correction and reform, that forsakes long-term investment for short-term gain, that piles up debt year after year, will eventually fail, no matter how grand its history or noble its purpose._
—Dan Neil's column in the Los Angeles Times , June 1, 2009
Brilliant stuff.Go read the whole thing.