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23,328 Posts
November 22, 2008
To their credit, most of those calling for a General Motors bankruptcy are trying to help save the auto industry, not destroy it. They are saying that bankruptcy is the only way they can see to get from here to there. And maybe it is. Maybe after 50 years of accumulated legacy costs, encrusted bureaucracy and mistakes, General Motors needs the harsh slap of bankruptcy to force on it the kind of change in culture and mind-set that it will take to compete in the future.
But let’s not go down that road until there truly is no other choice. We’re not there yet
Complete Article: http://www.nytimes.com/2008/11/22/business/22nocera.html?em
To their credit, most of those calling for a General Motors bankruptcy are trying to help save the auto industry, not destroy it. They are saying that bankruptcy is the only way they can see to get from here to there. And maybe it is. Maybe after 50 years of accumulated legacy costs, encrusted bureaucracy and mistakes, General Motors needs the harsh slap of bankruptcy to force on it the kind of change in culture and mind-set that it will take to compete in the future.
But let’s not go down that road until there truly is no other choice. We’re not there yet
Complete Article: http://www.nytimes.com/2008/11/22/business/22nocera.html?em
