No, it wasn’t only the UAW’s fault. Management had to agree to those contracts. Management opened new plants that were not necessary. Management created the debt structure. Management saw the signs that the finance arm was subsidizing the auto-making arm of GM a decade ago - and they were very slow to deal with that.
Wagoner suffers from being a Harvard MBA, the scourge of American business and industry. They’re the most over-educated, under-informed clowns in the world of management, finance and C-level executive leadership today. If there were any justice, the “Harvard MBA” would become a kiss of death to all of these clowns’ careers and no one would ever, EVER employ these morons ever again.
Stick a fork in GM.
per Wiki
Frederick “Fritz” Henderson (born November 29, 1958, in Detroit, Michigan) is the current President and Chief Operating Officer of General Motors Corporation. He has been with the company since 1984. Henderson had previously served as the CFO of GM and assumed his current position in late 2007. He holds a Master of Business Administration degree from Harvard University and a bachelor’s degree in business administration from the University of Michigan’s Ross School of Business. Henderson is replacing Rick Wagoner as CEO of General Motors after Wagoner served for 8 years. He will assume his new position on March 31, 2009.
Mitt Romney. Harvard Law and MBA.
They sure do know the "lingo", but they can't see beyond the next quarter and they never quite "got it" that a good businessman knows it's in his best interest to be honest.
My Harvard MBA brother-in-law can't understand how I can do real estate rehabs with contractors on a handshake. It's really not complicated, I use guys who know I will never cheat them and that if they cheat me I'll never use them again. Do you want the business 1x or for a lifetime?