Wednesday, June 1, 2011

Former GM Executive Wants US to Regain Manufacturing Leadership

link here to article

Bob Lutz is a former GM executive and a "car guy". He loved making cars and he blames the MBA bean counters for what ails America. He thinks that Detroit is coming back and it is because they are making good products again. He thinks that other manufacturers will follow Detroit's lead.

He accuses the MBA types of ruining America's preeminence in manufacturing by focusing on quarterly results to please Wall Street. In my book he is partially right. The CEO's had every incentive to boost quarterly profits in order to boost stock prices which had become their primary source of compensation. The bean counters did what they were asked to do.

No comments:

Post a Comment