All Entries Tagged With: "executive pensions"

In News That Should Suprise No One, Former GM Execs Are Clueless

Imagine that you were a senior manager at the old GM. Now imagine how you might feel when the company eventually succumbs to bankruptcy, and hundreds of thousands of people lose their jobs. Would you feel like a failure? Would you perhaps feel a little responsibility for what went wrong? A little guilt about not trying harder, putting up more of a fight, etc?

After all, if a company’s senior management isn’t somewhat responsible for corporate failure, than who is?

Sure the economy was a factor. So was the UAW. But GM and Chrysler failed while Ford (which had the same basic set of problems) didn’t. GM management has to take some responsibility for what happened to GM…right?

Evidently, about 100 retired GM executives (most of whom were VP’s or higher) didn’t see things that way. Go figure.