December 20, 2012
THE ONLY REAL QUESTION...:
The Liberation of General Motors (Steven Rattner, 12/19/12, NY Times)
For General Motors, the separation will conclusively remove the appellation of "government motors," a stigma that the company had argued affected the buying decisions of a meaningful segment of consumers.The divorce will ultimately also liberate G.M. from a number of government-imposed restrictions, importantly including those relating to executive compensation. These restrictions adversely affected G.M.'s ability to recruit and retain talent. Now, compensation decisions will be made by the company's board of directors, just as they are in every other public company in America.From Washington's point of view, divesting its remaining shares will end an uncomfortable and distinctly un-American period of government ownership in a major industrial company.
..was always whether to hold out for the profit or return more quickly to the Anglo-American model. We've got plenty of money.Posted by Orrin Judd at December 20, 2012 4:35 AM