The Homa Files

In March, Pres. Obama and his “car czar” axed GM’s CEO Rick Waggoner and appointed  Fritz’ Henderson to replace him, change the organizational culture, and save the company.

Oops.

On Tuesday, the GM board forced Henderson to resign, and initiated a search for his successor.

Good luck.   

Bringing in new blood is likely to be pretty hard since the company’s major shareholder (Uncle Sam) is capping pay offers, and restricting bonuses. 

The paradox: GM needs somebody with great judgement … and anybody who would take the job is disqualified based on that criteria alone.

http://online.wsj.com/article/SB10001424052748703735004574570370686365390.html?mod=article-outset-box

This entry was posted on December 2, 2009 at 7:59 am and is filed under Autos - Travel. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.