GM memo outlines comeback challenges

Comeback challenges? Surely management is suffering from some sort of mass delusion if they think there's anything to come back from, or that it will be in any way challenging. Just ask Mike Hunter, he'll set 'em straight LOL

nate

"With GM in the midst of a huge turnaround effort after losing $10.6 billion in 2005, senior management is said to be more interested in frank assessments of the company and the marketplace than rosy projections of its future."

The above was excerpted from the original article...The first step toward correcting a problem is taking a pains- takingly honest assessment of it. Maybe GM have decided to get serious about it.

Few companies can continue to take $10.6 billion dollar hickeys for long.

I hope they will accept the challenge, turn it around, and defy the odds.

Senior management should know what people think is wrong with GM and products and study the survey at

Main concern of Detroit management;

How will this affect my bonus and stock options......

The answer is for the board of directors to structure compensation packages such that bonuses etc. are based on the long term health and viability of the company, not a single quarter or year profit or loss.

nate

wrote:

This is a problem with a lot of corporations today, Nate.

Our bonuses are based on the performance over the year, and they can be substantial.

Some people produce, and should be incentivated. Others are able to massage and edit their performance and goals so that they ARE bonused.

Buy that man a beer.