03/31/09

You could almost hear the collective Gulp from the captains of other troubled and troublesome companies as they watched the head of GM, Rick Wagoner roll past them. Are we on the precipice of a major realignment In American business? It seems that the philosophy now is that executives, stock holders and board members have had years to clean up  problems that confronted them, but did virtually nothing. As long as GM was making $10 grand worth of profit on each of the behemoth SUVs they pushed out the door everything was fine. There is an old saying in the newspaper business, another myopic industry; “that’s great, but what are you going to do tomorrow”. Tomorrow has just arrived for the American auto industry…and many more.