Saturday, July 11, 2009

Tell Fritz

On Friday night's Nightly Business Report, Fritz Henderson, GM CEO, shared that a Tell Fritz website would be available for comments from the public. I thought it would be an opportunity to share some thought's with GM's CEO. To my surprise, when I googled "Tell Fritz," I found out the website does not yet exist.

To me, this is the representative of the overall problem with GM. Great talk but no delivery. Personally, I don't have the time to look for the website next week. So I will Tell Fritz today on my blog:
  • The Tell Fritz site should already be available. In today's digital world, web sites should be up and running by the time a company mentions them. It shouldn't take more than a few days to put up a good web site.

  • I don't believe a word you say. GM has a history of not delivering on promises made. Why should I expect this time to be any different? Paying back $50 billion in loans ahead of 2015 or breaking even by 2010 sound like hollow promises to me. If GM can't have a simple web site functioning by the time the CEO mentions it, I don't expect them to deliver on more complex goals with longer lead times.

  • Ford is the only American car maker I trust. Ford made the tough choices and took the action necessary to survive this economic crisis. In addition, Ford produces cars that consumers want to buy. To me, GM sold out their non-government shareholders, their bondholders, their dealerships and old GM customers to survive, but haven't developed a sustainable business model for the future.
  • Mr. Henderson, that's what I think. I won't spend the effort next week to submit my comments, but I expect that many others will probably send similar type comments.

    For more on Reflections and Musings, check back every Saturday for a new segment.

    This is not financial or business advice. Please consult a professional advisor.

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