"One Roadblock Too Many for G.M."

[amborin]

".....Mr. Wagoner also encouraged G.M.’s adoption of Toyota’s lean manufacturing techniques and quality control. So much so that Buick tied with Jaguar for first place in the latest J. D. Power ranking of dependability, coming in ahead of Toyota and its Lexus brand.

By bringing in the auto industry veteran Robert Lutz as vice chairman for global product development, Mr. Wagoner was also responsible for a redesigned lineup of vehicles. The Cadillac CTS and Chevrolet Malibu both won car-of-the-year awards last year and the newly revived Camaro — which is hitting the roads just as Mr. Wagoner is being ousted — represents the high-water mark of revitalized American car design.

Mr. Wagoner also pushed the development of the lithium-ion battery that will power the Chevrolet Volt extended-range electric car when it appears in late 2010. Lithium-ion batteries represent a leapfrog over the nickel-metal-hydride batteries in the Toyota Prius. By investing $1 billion in lithium technology, Mr. Wagoner created the best opportunity for America to win a piece of a huge new “green” industry now dominated by non-American companies.

Mr. Obama has not only failed to understand these contributions, he has also deprived G.M. of Mr. Wagoner’s presence on the board. Much of Mr. Wagoner’s knowledge and experience could simply be lost. With Mr. Lutz also about to retire, the two executives most responsible for G.M.’s transformation are gone.

Mr. Obama decided that G.M.’s president, Frederick Henderson, should move up to take the chief executive’s job, which has been part of G.M.’s succession plan all along. But how does that represent fresh leadership? And is Mr. Henderson ready? He is known for being more aggressive in his business dealings than Mr. Wagoner was, and speaks the language of Wall Street. That may be useful in dealing with G.M.’s bondholders and the U.A.W. But Mr. Henderson does not yet command the loyalty inside the company that Mr. Wagoner did. ...."

snip

<http://www.nytimes.com/2009/03/31/opinion/31holstein.html>

[amborin]

1. the car czars that recommended this are investment bankers

[annabanana]

2. Mama don't take my kodachrome away. .

(sorry .. it just popped into my head)

I guess someone thinks this move isn't good for General Bullmoose. Someone should tell him that times have changed.