GM:
In an article for Fortune magazine, Rattner offered a savage verdict on the leadership culture at the industrial giants, singling out GM\’s former boss Rick Wagoner for his \”friendly arrogance\”, and top executives\’ reluctance to mix with workers.
\”Everyone knew Detroit\’s reputation for insular, slow-moving cultures,\” he said. \”Even by that low standard, I was shocked by the stunningly poor management we found, particularly at GM, where we encountered, among other things, perhaps the weakest finance operation any of us had ever seen in a major company.\”
GM were living in the dark ages in terms of the quality of their cars and their organisation, and their demise was not met with the slightest surprise from economic commentators as far as I could see.
Didn’t GM used to be (in the 50’s and 60’s?) _the_ case study in how to organise and run a large corporation?
and their demise was not met with the slightest surprise
Neither, sadly, is the political interference that has prevented their long overdue actual demise.