Auto Bailouts from the Inside (very good read)

[Destinova403]

http://money.cnn.com/2009/10/21/autos/auto_bailout_rattner.fortune/index.htm

its VERY interesting to see how things went on behind the scenes, and how close to the brink both companies were.

[scat19]

But Rick set a tone of "friendly arrogance" that seemed to permeate the organization.

Who would of guessed it? He was only thinking about his million dollar pension and an out, not running the company.

[Destinova403]

My favourite part is


The cultural deficiencies were equally stunning. At GM's Renaissance Center headquarters, the top brass were sequestered on the uppermost floor, behind locked and guarded glass doors. Executives housed on that floor had elevator cards that allowed them to descend to their private garage without stopping at any of the intervening floors (no mixing with the drones).

it absolutely amazes me how removed from company operations that management actually was.

[Tik-Tok]

Originally posted by Destinova403
it absolutely amazes me how removed from company operations that management actually was.

It's way easier to pat yourself on the back, when there isn't a knife sticking out of it.

[Xtrema]

As we continued our rather awkward conversation, Rick suddenly asked, "Are you going to fire Ron Gettelfinger too?" Startled by the reference to the UAW head, I replied, "I'm not in charge of firing Ron Gettelfinger," and Rick soon left to brief his board on our decision.

All he care about is himself and UAW not getting the last laugh.

[sexualbanana]

Took me all day to read this at work yesterday. Really good read though