At an early age, Mitt understood that corporations are people, too.
Young Mitt: Mr. General Motors is very very mad at Mr. Acme plastics... and Mr. hedge fund, too!
Fortune magazine laid out GM’s problems pretty damningly, especially the point that they have had essentially the same problems for forty years or more. They showed a cover of Fortune from the 1970s that had one of each of GM’s cars from its many lines. They were indistinguishable. Nothing made you say “oh, that’s a Pontiac.” Everyone working in this industry knows that GM had (1) too many brands without market distinction — about a dozen, depending on what you count; (2) too many platforms to maintain, with the inevitable inefficiencies that go with that; (3) a massive lack of innovation and extremely slow time-to-market; (4) over-reliance on a few key gas-guzzling categories which were the first to go in a downturn; (5) poor reliability; (6) poor customer focus.Personally, even though GM is getting back on track, they weren’t drastic enough. They should have restaffed the top three levels across the board. Instead, they brought back an old CEO who helped them get into this mess as an advisor. Sheesh.