Let The Markets Decide
I listened this morning to GM’s CEO “customers, cars, & culture” priority…
Did anyone read Anna Schwawrtz’s brief interview in Time? http://www.time.com/time/business/article/0,8599,1909115,00.html
She lived through crash of 1929,and is considered a financial matriarch. She co-authored with Nobel laureate Milton Friedman the highly acclaimed financial bible A Monetary History of the United States (Princeton University Press, 1963), and she’s worked as an economist with the National Bureau of Economic Research since 1941. She now serves as an adjunct professor at the Graduate Center of the City University of New York.
Bottom line: Companies that fail should be allowed to fail. Let the market decide. Rescue plans provide no motivation for companies to “get it”.
After listening to “the new” General Motors this morning, I heartily agree.