GM writes letter of apology to, well, everyone really.

2008 December 8

Mostly.

In the letter, GM apologized for disappointing the public and admitted its own errors. But it also takes time to try and convince people that they really need to be saved, for the betterment of everyone.

The ad is clearly a plea on their part, directly to the American public, undoubtedly in an effort to influence the bailout package.

Still, the letter is a frank apology, although probably no longer necessary.

Of course, the Head of GM has other problems as well.

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3 Comments leave one →
2008 December 8
droog permalink

Hopefully GM has now learned to look further than the guy’s last name the next time they pick a CEO. You can risk that flashy selection process for individual performers like Usain Bolt, but nobody should run a multi-billion company because “it sounds just like a comic book”.

(Was that joke obvious? Was it even a joke?)

2008 December 9
Red Guy permalink

My brain extended “GM” into “Gmail”, and it still made sense, though I hope Gmail doesn’t get a government bailout.

Does the letter not remind you of Daniel Plainview’s repentance scene from “There Will Be Blood”? I refuse to believe GM couldn’t save itself from foundering. And if it is a traitor of disastrous proportions, I don’t see how prolonging its existence is good for the economy “in the long run”.

2008 December 9
mr911 permalink

A company doesn’t “save itself from foundering” in a vacuum. When it’s low on cash, it takes out a loan or other line of credit. It would do so now if banks were actually lending. Saving the automakers may or may not be good for the economy in the long run, (signs point to yes, but a lot depends on how the automakers actually change,) but it has the immediate benefit of keeping hundreds of thousands (if not millions) of workers and pensioners from suddenly losing their incomes, never mind the ripple effect into other businesses which depend on the automakers’ existence or which service the currently employed workers who’d be losing their jobs if GM failed.

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