I don't know anything about cars. A business is a business, and I think I can learn about cars. I'm not that old, and I think the business principles are the same.
Edward Whitacre, Jr.TARP is funded by taxpayers, so there are many rules about how that money can and can't be used. The result: GM spends an awful lot of time checking in with the people who administer TARP over everything from hiring to executive compensation and management. For a global company, that adds up to a lot of distraction.
Edward Whitacre, Jr.When I went into GM there was a lack of morale. The company had gone bankrupt and the people who worked there were embarrassed. Underneath all of, though, there was a will to show what they were capable of, but nobody knew exactly what to do.
Edward Whitacre, Jr.