imported post
Recently there was an article in the NY Times about a GM executive in China. His name is Murtaugh. Anyway it was thru his input that the GM operation in China develop a van not unlike those VW vans of the 1960's-70's: good on gas mileage but not good on creature comforts like smooth ride, warm heaters and engine performance.
That van is the best selling in China now. So what happened to Murtaugh? Was he promoted?
LOL. He was (probably) forced to resign in the wake of GM's management restructuring concerning China.
Isn't that just par for the course? GM discovers a risk taking winner on its team and then forces him to resign ... since Murtaugh was soooo good, he made most others look bad. It is like a lousy baseball team that finds itself with a terrific pitcher -- and then trades him because his performance makes everyone else's look bad in comparison.
It had nothing to do with the company or its shareholders, but everything to do with the good ol' boys. No wonder GM's bond rating is a notch above junk.
It is the same corporation that still hasn't gotten it in regards to fuel economy. The ads I see still tout 16-22 mpg vehicles while gasoline prices rise to $3. It is costs like that that leave less for other discretionary spending. Just as the rise in interest rates will squeeze ARM holders in a couple years.