I don’t have all the details, but a quick look at this article shows that GM’s plight was, at least in part, avoidable. The base model comes with a 182 horse power 2.4 liter engine, and gets you 30 mpg. There is no reason in the world that GM could not have produced this vehicle two years ago. In doing so, they would have seen demand shift from some of their other lines, but also from Ford, Toyota, and Dodge. In addition, they could have easily picked up some gas guzzler trade-ins. Why did they wait? It’s quite simple: they have absolutely no foresight. The GM motto could be “what works today will work tomorrow”. Of course, that motto doesn’t work.
This to me supports the Obama position that if these guys want help they have to change. I remain uncomfortable about the government running a company, and when this administration can force out long time CEO Rick Wagoner, that is what is happening.
Where then is the balance? When should the government not use its coercive power when it doles out money to broken companies? When should it let them fail? And what does one do with the thousands upon thousands of individuals who have been mishandled by bad leadership? I don’t know, but somewhere somehow they have to shoulder some of the burden. Some of this is their poor decision to tie their fates to people like Wagoner, who really did need to go.
A lawsuit? That is what some shareholders are rumoured to be considering, because they feel as though they were kept in the dark about the struggling CEO’s health. While Jobs is known to be an aggressive man in many respects, his health is something he may have very little control over, as we probably know lots less than we don’t about the human body.
But for some fancy flying by Captain Chester “Sully” Sullenberger and his co-pilot Jeffrey Skiles, a menacing flock of geese would have managed to pull of the same feat that Osama Bin Laden’s gang of thugs took pains to plan and execute.
remember the miseries we have to go through at airports, the violations of our privacy that were made in our names, the destruction of our international reputation through the reckless disregard for human rights and international law, and now goose poop, which perhaps is best cleaned up with the editorial pages of the Wall Street Journal, as they have no better use.
This past week Eric Holder went before the United States Senate Judiciary Committee so that he might be confirmed as the next Attorney General. In that hearing, he was asked whether waterboarding was torture, and he gave a pretty unequivocal answer of “yes”, much along the lines that his soon-to-be boss President-elect Obama has said.