On my drive to work this morning, I noticed the flashing digital sign in front of our local Pontiac/Buick dealership. All the advertisement declared massive reductions on prices. MSRP $29k...NOW $21k. MSRP $18.5k...NOW $15k. MSRP $23k...NOW $17.9k. You get the hint.
While taking in the blitz of markdowns, the talk on CNBC radio was the 2nd day of congressional hearings about General Motors, Ford & Chrysler (aka the BIG 3). I began to ponder the following question: What is all the clamor on capitol hill about the viability of the BIG 3?
In a normal business model, if you can't get the execution right you will ultimately fail. Why would it be any different for the BIG 3? If they have a viable business model, go through legal options of bankruptcy and restructure. Learn from the mistakes and rebuild a better company.
If history is any indicator, the BIG 3 has had a reluctance for change which has led to its dwindling prowess in the auto industry as a whole. At the end of the day, what kind of message would you be sending to consumers if all they saw was that you are no longer worth it?
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