Bluehawk points out that U.S. car makers do not have the cash reserves car companies have in other countries because of the way Wall Street pressures the past 30 years have forced all U.S. publicly traded companies to keep cash reserves to a minimum and load up on debt. This, as a way of warding off hostile takeovers.
I should have remembered this days, even weeks ago. James Crotty covers it in his work on how financialization has impacted non-financial companies.
Also, check out this guy: Ozgur Orhangazi
Roosevelt University, Chicago
Department of Economics