What's a Michelin Star?

I've eaten twice at a One Michelin star restaurant, Din Tai Fung, in Taipei 101 and at Central Embassy Mall in Bangkok.  But I never really knew how an establishment gets recognized by an international tire maker and what qualifications does one need to have to get a star. Back in the day, I've always known that if your car has Michelin tires, then, you must be really wealthy.  

Since I wasn't doing anything important today, I googled  Michelin Star ... "It is not a list of the "best" restaurants in the world and was never designed to be one. It is also not a list of the best chefs or cooks or the most expensive meals, though gaining a Michelin star can do a number on prices since many restaurateurs will, if they can, raise prices." .... and that's just quoted from the first few paragraphs of the article that I read.  

"In order to receive a star, you have to be, most importantly, in an area that is covered by Michelin. I could start a place that rivals the French Laundry in Dallas and would never get one - Dallas is, currently, not covered by Michelin. In America, this would be New York City, the Silicon Valley, San Francisco, East Bay and Wine Country, Los Angeles, Chicago, and Las Vegas. You will notice that no southern cities are included. America is special, in this case, in that Michelin guides are written per city or (in the case of San Francisco) small area, not state or country as they are elsewhere."

... and the article ends with this ... "Having Michelin attention is nice and can bring in some serious dough. Like all fame, though, it can break a restaurant or chef. Personally, I am glad not to be in a Michelin city."