Upon reflection, we've decided to keep this blog going. Can't promise you we'll make it to 2,000 posts, but there are still too many stories to tell and retell for us to close down the shop.
For instance, those of us who grew up in and around Motown know all too well how badly the U.S. auto industry misread the future for their vehicles, over and over and over.
Still, it is shocking that GM is presently losing one billion dollars a month. Here in Silicon Valley, we could fund 2400 new startups a year just from GM's burn! In fact, they could all be tasked with creating the ultimate fuel-efficient, non-polluting car, and I betcha we'd have a hell of a better chance getting the innovation so badly needed than allowing GM to continue to throw good money down a bad drain.
I think there should be a shareholder's revolt to accomplish just what I've proposed. It won't be led by me, however; I have no GM stock and don't want any, even at today's paltry price of ten bucks a share. There's a fairly good chance the company is headed for bankruptcy and delisting from the stock exchange, anyway.
What makes me sad is not the waste so much, as this is an old story, but the cold hard fact that GM will be shedding some great brand names soon. Remember the Oldsmobile? Well, what will go next -- Pontiac, Buick, Saab, GM Truck, Saturn? They're all rumored to be clinging to life support as major GM brands.
I'm gathering up old photos of GM cars, 'cause I figure by the time my younger kids are driving, none of the old models will exist anymore outside of some museum in Flint, Michigan...
3 comments:
Good to here you'll be continuing. I too will be reading.
David,
That's good news for me... and I hope this is an indication that this side activity can be energizing for you – as Carole put it. It has been for me. Especially when you focus blame on GM management by calling on a shareholder revolt (as though big government interference and union drag are less important)...
See what I mean? Now you've gone and made me think again. You can bet I'll be a devoted reader of your posts as long as you feel like posting. After all, every neighborhood should have at least one crabby conservative.
Cousin Dan
Ah, General Motors. What a rich, colorful history. A true American icon, and one we can take great pride in. Just look at the photos you're collecting. I can remember as a kid the excitement each year, waiting to see the next model. Back then, a lot of effort went into hiding them from the general public to build excitement.
Having worked in and around that industry for more than 2 decades, I must make a couple observations here. First, government intrusion is enormously expensive and often breathtakingly wacky and counterproductive. Second, union intrusion is enormously expensive and often breathtakingly wacky and counterproductive. In other words, much of the burden adding to losses that GM, Ford and Chrysler have experienced are from outside the direct control of the corporate officers. Within the world market, they compete with some dynamos who are not saddled with the same costs. Dumb as Mike Tyson was, he would not have climbed in the ring with one arm tied behind him.
With its 9% approval rating, I'd much rather see a revolt against congress to shake off the air head legislation that has long added to American industry burdens.
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