The FT on GM

http://www.futureofcapitalism.com/2010/06/the-ft-on-gm

The Financial Times has an article with some color on what's happening at General Motors. Highlights: The government hasn't forced GM to separate the CEO and chairman's jobs; before new manangement took over, GM ran nearly 3,000 Web sites, " two-thirds of which were internal and many of which were not updated regularly." The new team "has chopped the number of regular reports compiled by GM's research group from 94 to four. He may dispense with some of these too, after deliberately not e-mailing them to the usual 150 recipients and finding that only a handful missed them."

GM's design chief says "prior to the new regime, 'half of our people were spending all of their time preparing presentations, instead of designing great cars.'"

Turnaround narrative notwithstanding, the company is still looking for loan guarantees from the German government for its Opel division.

by Editor  |  Jun 8, 2010 at 10:13 am Related Topics:  Auto Industry, Corporate Governance, Europe receive the latest by email: subscribe to the free futureofcapitalism.com mailing list