GM decides to actually be in the market
General Motors’ new president of North American operations says the company hopes to repay its $50 billion federal bailouts and become a public company again by the end of next year. Susan E. Docherty also admitted that in the bad old days, the bankrupt US car maker had a tendency to buy its market share. Now she says the company will go out there and earn market share, and that’s what the big difference is. That’s an interesting statement emanating from a giant in the world’s greatest “free” market, not that it doesn’t ring entirely true. GM’s major problem was that it was a lumbering behemoth (a woolly mammoth, perhaps) whose feeding ground grew ever smaller as global competition nipped at its heels before devouring it. Docherty says GM will now ensure it doesn’t fall back on old habits and derail its recovery. But it’s a long road to regaining lost market share. Read more: The New York Times, UPI
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