A good read: 9 Bailout Surprises From GM and Chrysler
I’ve been paying attention mostly to GM and didn’t realize just how bad Chrysler was doing. It sounds like they’ll be done fairly soon.
The most aggravating thing for me is that GM did absolutely nothing until the government stepped in. Taking a look back, they’ve been losing money for years. The current recession had been visible for years prior, so that wasn’t a surprise. Why did GM wait until it secured public money to finally come up with a restructing plan?
Anyone who runs a company as big as GM and can’t predict the current mess at least 2 years ago shouldn’t be there.