Word: gm
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Dates: during 2000-2009
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...insiders like to think of their business as impossibly complicated, involving as it does billions of dollars, intricate technology and the necessity of gauging consumer tastes three or four years in the future. By their reasoning, developing the necessary expertise takes decades of experience. No outsiders need apply. (See GM's great hopes...
...Whitacre's GM...
...Former Boeing executive Alan Mulally has partially disproved that theory by leading Ford to the greatest success among the Detroit Three. Now GM board chairman Ed Whitacre, a veteran of the telecommunications business, will try to go the rest of the way. After accepting the resignation of GM veteran Fritz Henderson, Whitacre will be running the company as interim CEO while he searches for a full-time successor...
...Henderson will be remembered as being as smart and experienced as any GM CEO, but he appeared tone-deaf when it came to listening to Whitacre and the rest of his board of directors. Since he had no role in picking them and they owed him nothing, that proved to be a fatal mistake...
...Mark Pincus, 43, Zynga had 45 staffers by June 2008 and now employs 600, counting contractors. Its most recently launched game, FishVille, hooked 9 million users in a week. Zynga is privately held, but a rival less than half its size was recently bought by Electronic Arts, the GM of games, for $400 million. How could an outfit that offers scammy mobile-phone horoscope subscriptions get so popular...