GM's Ed Whitacre out in 2 years
This is the way it was written up in Autoblog.. they dont get it...
"Also, the General Motors board only named him the permanent CEO when a search for someone to step in and take the job from Whitacre came up fruitless. The search yielded no one qualified that was willing to work for the pay restrictions put in place by Uncle Sam as a result of GM's Chapter 11 bailout.
Also, and you need to read between the lines for this one, Detroit for the most part dislikes and distrusts outsiders. Hence the fact that they are looking internally for a Whitacre replacement. Strange when you consider how much wood former Boeing-man and total Detroit outsider Alan Mulally's been chopping over at surging Ford. Still, "Whitacre and the board want the winning candidate to emerge from a new corporate culture based on decision-making and accountability.""
The real story here is that the board recognizes he is a tool. He was known as a tool and not very capable over at ATT, and he will be the same for GM. Hopefully, he wont screw things up, but he is not going to do very much. The real story is that no one was willing to step in and take over for what communism was willing to pay. No shit. Pretty soon it will look like Chavez's PDVSA (the state oil company of Venezuela, and main source of national income) where a used car salesman is now one of the top executives, all because of political connections.
The board realized they have a clunker of a CEO and want him out soon. My take is that they are hoping to find someone capable willing to work with the restrictions, or that those restrictions will be lifted one way or another.
"Also, the General Motors board only named him the permanent CEO when a search for someone to step in and take the job from Whitacre came up fruitless. The search yielded no one qualified that was willing to work for the pay restrictions put in place by Uncle Sam as a result of GM's Chapter 11 bailout.
Also, and you need to read between the lines for this one, Detroit for the most part dislikes and distrusts outsiders. Hence the fact that they are looking internally for a Whitacre replacement. Strange when you consider how much wood former Boeing-man and total Detroit outsider Alan Mulally's been chopping over at surging Ford. Still, "Whitacre and the board want the winning candidate to emerge from a new corporate culture based on decision-making and accountability.""
The real story here is that the board recognizes he is a tool. He was known as a tool and not very capable over at ATT, and he will be the same for GM. Hopefully, he wont screw things up, but he is not going to do very much. The real story is that no one was willing to step in and take over for what communism was willing to pay. No shit. Pretty soon it will look like Chavez's PDVSA (the state oil company of Venezuela, and main source of national income) where a used car salesman is now one of the top executives, all because of political connections.
The board realized they have a clunker of a CEO and want him out soon. My take is that they are hoping to find someone capable willing to work with the restrictions, or that those restrictions will be lifted one way or another.
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