Why GM Matters

Why GM Matters

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In November, GM CEO Rick Wagoner appeared before Congress to ask for $25 billion to bail out the struggling Big Three automakers. To critics like Thomas Freidman and Mitt Romney, it was a sign that the American auto industry should be led out to pasture; if the Japanese are better at making cars, they said, then we should let them do it. To defenders, the loss of the countrya€™s largest manufacturing sector would be an incomprehensible disaster. Nearly every day, the debate rages on the op-ed pages. Billions of dollars and millions of jobs hang in the balance. In Why GM Matters, William Holstein goes deep inside GM to show whata€™s really happening at the countrya€™s most iconic corporation. Where critics say that GM has sat on its hands while the market changed, Holstein demonstrates that GM has already radically retooled its entire operation, from manufacturing and cost structure to design. Where pundits say wea€™d be better off without GM, he shows how inextricably linked GM and the nationa€™s economy still are: The countrya€™s largest private buyer of IT, the worlda€™s largest buyer of steel, the holder of pensions for 780, 000 Americans, GM accounts for a full 1 percent of our countrya€™s GDP. A dollar spent on GM has profoundly different consequences from a dollar spent on Toyota. Following a diverse cast of charactersa€”from Rick Wagoner, the controversial CEO, to design director Bob Boniface, to Linda Flowers, a team leader on the line in Kansas Citya€”Holstein examines the state of GMa€™s health and builds a persuasive argument that GM is essential to our nationa€™s well-being and, with the right economic climate, ready to compete with Toyota as one of the biggest global automakers.... to make cars that they can sell in international markets; the foreign automakers want to use the relationships to expand sales ... vehicles through another joint venture with SAIC called SAIC-GM-Wuling, located in a remote southern part of the country. ... In the lobby showroom are the Chevy Lova and Chevy Aveo (both based on models from GMa#39;s Korean affiliate, GM Daewoo Auto aamp; Technology Unit).

Title:Why GM Matters
Author: William J. Holstein
Publisher:Walker - 2009-02-03

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