Hell freezes over: GM fades to No. 2

[Caffinated Soap]

http://articles.moneycentral.msn.com/In ... toNo2.aspx

What was unthinkable not too many years ago has finally happened -- Toyota is now the No. 1 automobile company in the world, surpassing General Motors in sales in the first quarter of this year. Toyota announced Tuesday that it had sold 2.348 million vehicles worldwide in the January-March quarter, surpassing the 2.26 million vehicles GM sold during the same period. Yes, it's only one quarter, but the momentum has been building for years now, and I don't expect Toyota to lose its lead anytime soon.

To a lot of people here in Detroit, it's a sad day. And not just for GM old-timers, either. General Motors wasn't just the largest U.S. automaker, it was the largest business enterprise in the world, a glittering showcase of American industrial might that mirrored the upward trajectory of this country in the blue sky '50s and go-go '60s. GM was a source of pride for Detroiters of all stripes, because along with Ford and Chrysler, the center of the automotive universe was right here in the Motor City -- and we liked it that way.

GM's heyday was a time when giants roamed the earth -- with larger-than-life characters flaunting larger-than-life egos running the most dominant industrial enterprise in the world. Back in the day, it was often said that a divisional general manager for GM had more power than some heads of small countries. And it was true. GM dictated to the market in terms of design, engineering, vehicle content, pricing, segments -- even down to the paint colors offered.

[Jeremy C]

I thought I recognized that bit. Sweet Pete wrote that about 3 weeks ago. Every Wednesday he posts a rant on his website. Good read if you have the time.