Here’s a sentence I’d never thought I’d write while covering the auto industry:
The United States government is poised to buy the best assets of failed GM, a sale that will include the Buick, GMC, Chevrolet, and Cadillac brands.
The old General Motors will dissolve in bankruptcy court while a brand new company, owned largely by the United States and Canadian governments, will emerge under the same GM name.
GM CEO Fritz Henderson said on his blog,
We expect the sale to close as soon as possible…and for the new GM to be operational and fully competitive, with an exciting line of new products, a smaller and more focused brand portfolio, and a clear mission to put the customer first in everything we do…. This has been an especially challenging period, and we’ve had to make very difficult decisions to address some of the issues that have plagued our business for decades.
Some of the issues? Pardon me, Mr. Henderson, but perhaps you should address all of the issues that have plagued your business. Putting customers first will make us all feel good for a while, but if there’s not a fundamental change in how you operate the business, we won’t stick around.
Let’s just hope the Obama administration guides you in solving all of GM’s issues… not just the ones that are easy to publicly address.
Heck, I’m sure the readers of this blog would have some great suggestions for change.
Readers: What do you hope GM will do differently in its second life?