Re: And NOW, the Big 3 are doing what Packard couldn't do...

Posted by Packard53 On 2009/4/1 19:18:28

The problems that are facing GM today are of their own doings not the bankers in this case.

If you follow the history of GM the start of the decline began when Roger Smith became CEO of GM around 1981. Before Smith became CEO GM was decentralized in its decision making. Roger put all decision making under one roof were the decision making became bogged down under a centralized system.

The biggest mistake made by Smith was starting Saturn, which during the time took much needed money from r&d from the core brands of GM.Saturn only turn a profit one year in the 20 that it has been in production. GM in keeping Saturn afloat dumped many billions of dollars down a black hole.

The bottom line is that CM with all the brands they have been trying to support just became to dam big to support it self and make a profit.

Roger Smith without a doubt has to be the one of the worst GEO"S that GM ever had with the exception of Billy Durant.

John F. Shireman