Monday, December 08, 2008

General Motors Ad

From WSJ article (with link to full ad) on the GM ad:

GM's letter does not simply sound more alarm bells. It is anchored by a long paragraph admitting to several costly mistakes.

"While we're still the U.S. sales leader, we acknowledge we have disappointed you," the ad says. "At times we violated your trust by letting our quality fall below industry standards and our designs become lackluster. We have proliferated our brands and dealer network to the point where we lost adequate focus on our core U.S. market."

The entire ad is pretty long but trust me when I say it does not inspire me with confidence. It also contains this gem:

And, we made commitments to compensation plans that have proven to be unsustainable in today’s globally competitive industry. We have paid dearly for these decisions, learned from them and are working hard to correct them by restructuring our U.S. business to be viable for the long term.

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