A significant factor was the general recession in the years following the 2007 housing bubble popping. People lost jobs, were struggling to pay bills, and naturally it was not an ideal time to purchase a vehicle.
Another significant factor was the surge in oil prices that came with the economic crisis, and the increased costs that automobile manufacturers faced due to the credit crunch that also came with the crisis. Since a lot of US manufacturers at the time were selling big SUV's, such as Hummers, as their most profitable products, the steep fall in demand hurt the industry immensely. At the time, US auto manufactures didn't offer many fuel-efficient, inexpensive alternatives to choose from.
The government chose to bail out major US automotive companies, providing large loans in order to help them stay solvent and keep their stock price from tanking. The results were generally positive. Big auto-manufacturers, apart from a couple mergers, survived and were given time to adapt the new market for fuel-efficient, less expensive vehicles.
I would tell the Michigan Economic Council to adapt ahead and to urge companies to diversify their product line. A major factor that automotive manufacturers can definitely take the blame for is their over-reliance on the sales of expensive SUV's, when oil prices and general market trends suggested that the future was not with these vehicles.
The Airline Deregulation Act was passed
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A free, open-minded, and absolutely impartial adjustment of all colonial claims, based upon a strict observance of the principle that in determining all such questions of sovereignty the interests of the populations concerned must have equal weight with the equitable claims of the government whose title is to be
Explanation:
Medusa, one of the three Gorgons, daughter of Phorcys and Ceto. She was the only one of the Gorgons who was subject to mortality. She is celebrated for her personal charms and the beauty of her locks. Neptune became enamoured of her, and obtained her favours in the temple of Minerva. This violation of the sanctity of the temple provoked Minerva, and she changed the beautiful locks of Medusa, which had inspired Neptune’s love to serpents. According to Apollodorus, Medusa and her sisters came into the world with snakes on their heads, instead of hair, with yellow wings and brazen hands. Their bodies were also covered with impenetrable scales, and their very looks had the power of killing or turning to stones. Perseus rendered his name immortal by his conquest of Medusa. He cut off her head, and the blood that dropped from the wound produced the innumerable serpents that infest Africa. The conqueror placed Medusa's head on the shield of Minerva, which he had used in his expedition. The head still retained the same petrifying power as before, as it was fatally known in the court of Cepheus. Some suppose that the Gorgons were a nation of women, whom Perseus conquered.
