The Folks Running GM… And the Folks Running the Country
Say you were a congresscritter or a President or a President-elect asked to give taxpayer money to GM. You might, at the very least, want to know that the folks running GM know what they’re doing and are capable of putting out a desirable product.
If you thought that way, you might want to know who is on their board of directors. You’d find that information here.
So let’s see… there’s a retired chairman of AstraZeneca, a retired chairman and CEO of Kodak, a retired chairman and CEO of Ernst & Young, the President of the University of North Carolina, the former head of the Pfizer foundation, the CEO and Chairwoman of Ceridian Corporation, the retired chairman and CEO of Sara Lee Corporation, the retired CEO and President of Compaq, the President and CEO of the Flagler Group, the Chairman Emeritus (no former chairman he!) of Northrop Grumman, the current CEO of GM, the Chancellor of the U of Georgia, and an Executive VP at Du Pont. I can appreciate the benefits of bringing in some outside expertise, but in this case, the only one on this group who on paper knows anything about making cars is the current head of GM. And given that he’s been running the company for ten years, I think we can safely conclude nobody on that board really has much of a clue how to build cars people might actually want to buy.
Fortunately for GM, the decision of what to do is mostly in the hands of people similar to those on its board of directors and/or attorneys.