There is a job opening for the worst job in America. Dust up your resume. No, it’s not the head coaching job at Notre Dame, it’s the CEO job at Government Motors. In my July 18th, 2009 entry I described why this is an impossible job. Fritz Henderson lasted far longer than I thought he would.
You are a major shareholder of GM, do you agree with Henderson leaving?Do you think this will help your investment or hurt? Do you think good candidates will be lined up to fill this job? First, you have the pay czar putting a lid on compensation. They can’t find a CFO to work for them for Obama pay.
Why have anyone involved with your new company that knows anything about making or selling cars? It’s one thing to blame the GM culture for bringing the company down, but ignoring the real culprit, the UAW is like sticking your head in the sand. The new board is cutting off all the bunions but the tumor is still there.
With Fritz gone who is the fall guy now? Bob Lutz? Bob isn’t the kind who will be a fall guy. He will openly defend any attacks on him. He’s doing you as a shareholder and his remaining friends at GM a big favor by staying. When will he have enough?
Once again, it’s your government at work. Create an impossible situation for success, then find a scapegoat and hang him high.
If it were fair and you got shares for your tax dollars would you hold them or sell them?
