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.So long as TARP money is wrapped up in GM, the company will never shake its 'Government Motors' image. That label, as competitors and GM employees are keenly aware, is code for one thing: 'GM is a failure'.
Edward Whitacre, Jr.I started at GM knowing very little about that particular business. Not being an expert means you have to learn everything, starting from the basics.
Edward Whitacre, Jr.I am honored to be able to serve GM at this critical juncture and take part in its reinvention.
Edward Whitacre, Jr.