Fogo Island is an idyllic place, perched about as far to the Northeast as you can go in North America. Study the history of Fogo Island, Newfoundland, and you learn what grit and tenacity are all about. Drive around the island, and you’ll see decades old waterfront buildings that used to process what was the Island’s economic mainstay, cod.
The history and economy of Fogo Island bear a resemblance to the story of one of America’s once storied automakers – Cadillac. Cadillac was formed from the remnants of the original Henry Ford Co. A new company called the Cadillac Automobile Co. was established in August 1902, named after French explorer Antoine de La Mothe Cadillac, who founded Detroit in 1701.
Cadillac was purchased by General Motors in 1909 and became its prestige division. Some of its classic models today fetch hefty sums at collector auctions worldwide. However, as the years have passed, Cadillac lost the ability to compete on the high end of the luxury car scale. (more…)