Monday, June 01, 2009
What's Good for GM
"It's hard not to see GM's bankruptcy as a signal moment in a larger history. If mighty GM can fail, cannot also the United States? And the answer is, absolutely." The company's stark decline is "a rebuff of the notion of exceptionalism," notes Neil. "Any organization that fails to sufficiently safeguard its means of self-correction and reform, that forsakes long-term investment for short-term gain, that piles up debt year after year, will eventually fail, no matter how grand its history or noble its purpose.""