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Friday, November 26, 2010

GM Ad: "We All Fall Down"

This is a touching ad, no doubt about it.

However, GM isn't an individual. It is a huge company with hundreds of executives at the top, steering the boat.

GM isn't a boxer that took a hard punch by a powerful opponent.

GM whittled itself down, year after year, making bad decision after bad decision. And GM didn't entirely pick itself up... it required a major reorganization, financial destruction, and outside management.

That is the key thing. GM must remember, as an organization, how they went from largest automaker in the world to bankrupt. They need to have the "lessons learned" burned into the very DNA of their leadership culture.

I'm glad GM is back on track, for numerous reasons. A failure of GM would have been catastrophic not just to the domestic auto industry, but to the entire economy.

They had better stay on top of the game now, because I don't think the American public will have the will to save them again.


Anonymous said...

GM’s “rescue” had little to do with GM. It was all about the UAW. GM should have gone into Chapter 11 bankruptcy and reorganized. Plenty of companies have done this and come out stronger. The problem with Chapter 11 is the union contracts would have been renegotiated and union workers would have lost a lot of their wages/benefits. That would not do for the present administration as the UAW is one of their biggest backers. They had to be taken care of, hence the government bailout.

Matt said...

Further, GM can't even fess up to the fact that it is "Motors Liquidation Company" that has been around since 1908. These characters have been around since what 2009? The fact that they continue to take the public for fools doesn't inspire any confidence in me.

Anonymous said...

we --the taxpayers paid for this propaganda--really ticked me off--GM has done nothing as far as I can tell but accept donations from the US taxpayers--really offended by this

Anonymous said...

Not a fan of the ad, though I do think BK was inevitable. If the banks hadn't been so borked at the time, we would have seen a more traditional one, I think. And it WOULD CERTAINLY have included a UAW haircut as well. No bank financing meant political aims entered where they had no real place. The rest is now history... I also hope this lesson is never forgotten by GM.