Thursday, March 30, 2006
In 1992 GM's Board ousted Stemple and brought a new team to lead GM, Jack Smith and the then 39 year old chief financial officer, Rick Wagoner. Tell me he hasn't been at the top? That is 14 years ago. He has been responsible for North American Operations and lost share every year. The only question is when he will be held accountable? Look at yesterday's New York Times. There is a picture from 1992 with Jack Smith at the podium. Sittiing next to him are Bill Hoglund, Louis Hughes, Harry Pearce, and "Red Ink Rick". The man has been pulled through the ranks with the goal of the top spot. He did nothing to warrant the position, in fact many I know say he was horrible as head of purchasing. He was groomed and paraded and given the position to ultimately close US production, eliminate dealers, move offshore. When one understands the Creed of Greed practiced by capitalists gone bad, the reluctance of the Board of Destructors becomes obvious. That my friends is THE REASON they refuse Return to Greatness.
"The best I can do is reference Martha Mitchell. Mrs. Mitchell's husband John was the US Attorney General under Richard Nixon. Mrs. M would call Washington reporters in the middle of the night with bizarre tales of illegal activities: a secret enemies list, South American assassinations, break-ins, wiretaps, the FBI Director wearing a dress and more. By the time these reporters realized Mitchell wasn't a crazy drunk, her husband was in jail for conspiracy, obstruction of justice and perjury. In other words, while it's easy to dismiss Buickman's rants as the sour fruit of a man scorned by GM's Boy's Club, being bitter doesn't make a man a fool. Or, come to think of it, wrong."