Displaying some of that fine business acumen that forced them to go begging hat-in-hand before Congress for a slice of taxpayers dough, GM unveiled a new Cadillac at the Detroit Auto Show. I'm sure it's what most of what Wall Street will be spending their financial bailout on.
This highlights the out-of-touchedness of GM CEOs: while the country is in a depression, and many Americans have turned to shoplifting,they trot out a vehicle that even most people who can still afford to drive (what with oil prices sure to climb on the heels of the holocaust in Palestine) can't afford to buy.
There was a time when I supported bailing out US automakers, but as much as I would hate to see tens of thousands of autoworkers out of work, I cannot on the other hand see a continuation of a system that rewards such managerial incompetence.
Showing posts with label out of touch billionaires. Show all posts
Showing posts with label out of touch billionaires. Show all posts
Sunday, January 04, 2009
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