Nice. Had to bring up the GM bk didnt you...
Sucker punch....
Im not always right. Im human. I know i know...
Sure, bad busniess decisions can kill you. of course. Im not saying dont blame managment at all, im just saying, these issues with GM were decades in the making. Kind of like social secruity. Seems LIKE a good idea, at the time. Then before you realize it isnt , its too late. Before you know it, the Union is running the company.
So you think SELECTION and management fat were their downfall. Ok....
Then why did their current selection, number 1 in the world, not make money? You defeated your own arguement.
Being number 1 in your industry does not guarantee profits. Look at SiriusXM. Largest radio company in the world. Just break even about from that. Clear Channel. 600 million gross revenue, they lost money. #1 in terrestrial radio market.
etc...
Sometimes your industry is the problem. The domestic car INDUSTRY was in trouble, not just GM. They were the biggest, the biggest leveraged company, so they took it the worst. Like I said, decades in the making. Number one cost for most business's is labor. Labor labor labor. And costs associated with labor. Im sure you know that employers have to match federal taxes? Im sure you did...
Do you think Japan makes their companies match their taxes? Of course not...