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In the current issue of the Atlantic Monthly, Alex Beam reviews Roger Lowenstein's Origins of the Great Crash. Lowenstein at one point refers to the management classic, My Years With General Motors, by legendary GM Chairman Alfred Sloan. "There is no mention of GM's share price in his decision-making," he writes. "In contrast," Beam notes, "Jeffrey Skilling ... based every decision on its effect on Enron's share price."
I guess Mr Sloan was worried about making great cars! (Alas, an idea that eluded several of his successors! Life is tough!)
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The domestics need to do one thing: COMPETE! Worry about one thing: GREAT PRODUCT delivered at a FAIR PRICE. Build it and they will come. Instead we wring our hands about the Asian competition and the stock price. Cheers to the mavericks like Bob Lutz, who is lighting fires all over GM.
Posted by Duane at December 1, 2004 2:02 AM