What's good for General Motors is good for the country.
That was the phrase Americans stood by, or drove by, for the last 50 years. *
Today, however, some 46% of auto analysts believe the number 1 U.S. employer of the last century cannot continue to thrive. Some don't think it can even survive.
So what is GM's grand plan to return to glory? (Hint: It's not good for the country.)
1. Reduce or eliminate what created the middle class and American prosperity: good benefits for its workers.
2. Destroy the world sooner than ever by focusing more on SUVs and other gas guzzler- high polluting cars.
* The actual quote, made by a GM executive in the 1950s, was "what's good for the country is good for GM," but it got turned around and commonly accepted (and approved).
How typical, and how very shortsighted. Eliminating those benefits will also eliminate a lot of discretionary income for many people. It's going to send a shockwave through the economy, ultimately affecting GM itself. My worry is that other companies will follow GM's lead and reduce employee benefits.
All hail the almighty profit margin.
Posted by: Daniel | April 01, 2005 at 08:43 AM