Word: plan
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...quality gap. Its cars are competitive on engines and drivetrains and fits and finishes. Some top-class products score well with car rater J.D. Power, such as the Cadillac CTS and Ford's new F-150. "What exposes us to failure now is not our product lineup or business plan or our long-term strategy," GM's Wagoner told Congress. "What exposes us to failure now is the global financial crisis...
...Management in a Mess Detroit's corporate culture is obviously complicit in the industry's deterioration, just as it was guilty of creating an unparalleled manufacturing system decades earlier. The Detroit approach has been plan-command-control, stemming from that original control freak, Henry Ford. At GM, a management hierarchy that had been created by GM's master planner, Alfred P. Sloan, in the '20s - GM's first and most successful restructuring - was still functioning in the '80s. Management's job was to create the products, design the production system and provide solutions if there were problems. Everyone else followed...
...following two half percentage point cuts in October. Since credit markets are all but locked up in the wake of the collapse of Lehman Brothers in September, the ECB has ratcheted down its main lending rate by a total of 1.75 percentage points. (Read " Will Europe's Bank Bailout Plan Really Work...
...then take $9 billion more from the bank-bailout funds. In this scenario, the Senate would pass the measure first, but whether such a move would pass the House is far from certain, as leadership from both sides of the aisle have voiced opposition to pieces of such a plan...
...Menendez, a New Jersey Democrat. In addition to monthly updates on the Big Three's progress, many members of Congress want an oversight board or a single trustee to be empowered to win concessions from employees, retirees, dealers and creditors that are essential for any long-term restructuring plan to work...