Obama to GM CEO—You’re fired, bitch
The Obama Administration will announce a new auto-industry recovery plan on Tuesday. Word came out today that the CEO of General Motors is resigning as part of the restructuring deal. In other words Obama told him to hit the door, jack and don’t you come back no more no more.
I’m sure a lot of laissez-faire fiscal conservatives will jump up and down at some new threat of Socialism taking over America or some bullcrap like that, but when you look at the revenues and growth of GM (and Ford and Chrysler) it shouldn’t take the president telling you to pack your bags and get out to realize there needs to be dramatic change to remain relevant.
The CNN article says, “General Motors has been hit hard as auto sales have plummeted. Sales have continued to tumble through the early months of this year, falling 40% across the industry and about 50% at GM and Chrysler.” Since when do sales plummet 50% not mean it’s time for some change at the leadership level?
Unless the long-term strategic goal is to run the company into the ground in 10 years or less, then booting out the CEO and shaking things up is something GM should have done a while ago.
There are no sacred cows in business anymore. Just because we’ve done something the same way for 50 years does not mean it is still relevant or a successful business model today or in the future. You’ve got to think in new ways. The basic tenet of Capitalism for me is survival of the fittest…and GM is big fat ass lagging behind the rest of the heard.
Ok, that’s enough mixed metaphors and inappropriately capitalized words for right now. I’ll be back and point out other news of the obvious later.