Re:Silicon Valley Abandons the Culture That Made It the Envy...
by adventured on Saturday February 01, 2020 @08:01PM
(#22214406)
> The 'big three' were eaten alive by cars from abroad
GM wasn't eaten alive by foreign competition, nor was Ford. GM was eaten alive by extraordinarily bad financial decisions by management, not due to a collapse of their business. The bankruptcy put them back to profitability for a reason: they weren't in fact eaten alive. If the business had been destroyed by competition, they would neither exist nor have produced $30 billion in operating income the prior four years. Why did the bankruptcy get them back to sound profitability? Because they were able to crawl out from under layers of bad financial decisions from the past, not due to competition (the competition didn't end with the bankruptcy).
GM + Ford = $300 billion in sales.
That's what eaten alive looks like? Two of the largest automakers on the planet.
GM wasn't eaten alive by foreign competition, nor was Ford. GM was eaten alive by extraordinarily bad financial decisions by management, not due to a collapse of their business. The bankruptcy put them back to profitability for a reason: they weren't in fact eaten alive. If the business had been destroyed by competition, they would neither exist nor have produced $30 billion in operating income the prior four years. Why did the bankruptcy get them back to sound profitability? Because they were able to crawl out from under layers of bad financial decisions from the past, not due to competition (the competition didn't end with the bankruptcy).
GM + Ford = $300 billion in sales.
That's what eaten alive looks like? Two of the largest automakers on the planet.