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How Rick Wagoner Lost GM
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Jeffrey Sonnenfeld sees the largest blunder of Roger Smith and Rich Wagoner at GM, as that of packing the Board of Directors with people who were friendly to him and likely to back him, so that few independent voices were heard during their entire time running GM. Both Smith and Wagoner were protected by staffers. Their opportunities to see and hear what was happening in the the outside world was limited, even as the world around them was changing rapidly. See the links to the incompetence of the Board at GM.
Board failures and lack of action to make much needed changes after this helped cause the economic crisis of 2008-09.
06/01/2009
Board failures at companies like Fannie Mae, Countrywide, WaMu, GM and others which led to huge losses for taxpayers, communities, and laid off employees.
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An activist board at GM pushing for fast changes at GM.
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GM CEO takes bold steps He topples hierarchy, voes to repay loans.
Detroit Free Press 01/11/2010
GM's Board of Directors under Rick Wagoner and his predecessors as CEO- the absence of independent directors and different voices
06/01/2009
This is the opposite of what founder Alfred Sloan had setup as the practice of getting different and diverse opinions at board meetings and management meetings. See Sloan's account of his work at GM in his book "My Years With General Motors."
Grouped Articles
BusinessWeek 06/01/2009
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G.M.’s Board Is Seen as Slow in Reacting to Safety Crisis
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The new GM and the problems it will continue to face.
02/13/2006
GM faces intense competition in a shrinking market. And building appeal to younger demographics customers is critical to GM.
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Detroit Auto Makers Need More Than a Bailout
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Skeptics Present Another Obstacle for GM
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GM (General Motors) Management -pre-2010
03/04/2008
General Motors Management. Questions raised in the media. Is it too homogenous, too think alike. Are there different opinions and perspectives and ideas exisitng in middle and upper management and is diversity of opinion respected? Is the Board of Directors also too homogenous and think alike? And does it also bring different perspectives? Is there young blood in management and in the Board or is it like a place with tenure.
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New York Times 07/26/2013
GM Shifts Executives Amid International Push
Wall Street Journal 08/02/2013
General Motors Names Mary Barra as CEO
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BusinessWeek 06/01/2009
Failure of the Board of Directors to correct a company's course before it goes into bankruptcy- GM (General Motors) to MF Global
01/24/2008
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The 40-Year Club: America's Longest-Serving Directors
Wall Street Journal 07/16/2013
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Wall Street Journal 06/02/2009
G.M.’s Board Is Seen as Slow in Reacting to Safety Crisis
New York Times 09/07/2014
GM (General Motors) before the bankruptcy and transition to post bankruptcy management.
02/13/2006
The situation at GM before the bankruptcy.
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General Motors Names Mary Barra as CEO
Wall Street Journal 12/11/2013
For GE, GM and Citi, It's $7.06, $1.45, $1.03
Wall Street Journal 03/07/2009
Wall Street Journal 04/08/2006
In Dark Hour at GM, CEO Sought A Public Endorsement by Board
Wall Street Journal 06/05/2006
GM Sheds 19,000 Jobs Through Buyout Program
Wall Street Journal 05/30/2008
G.M. Closing 4 Plants in Shift From Trucks Toward Cars
New York Times 06/04/2008
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