In response to a couple of blog comments, this is my reply.
There’s nothing we can do.
So many are responsible for the GM disaster, but primarily I blame the company and those who worked there.
GM executives refused to adapt to reality, and with the survival of the fittest came the destruction of the obsolete.
They ignored making the improvements that buyers wanted.They successfully beat down new laws that would have demanded increased gas mileage for the cars.That was a Pyrrhic victory.They failed to improve mileage – and when gasoline finally became too expensive, and when foreign cars became more desirable, the American car manufacturer was doomed.And the bad economy and that was the end.
The unions didn’t help either.Benefits were simply too generous.It’s great when workers get good contracts and share the wealth – when the company is successful.Everyone shares in the profits.But when things go bad, sacrifices must be made.And they were made.But it was too little, and far too late.
But I primarily blame the board of directors for allowing practices that were doomed to result in the failure of the company
