So recent events have shown that General Motors may not get the help it needs until after the beginning of next year. What can it do in the meantime to hang on until then?
Pundits say that GM should continue to cut costs and raise money by putting more assets up for sale. They also call for the automaker not to shut down the company during the Christmas holiday. It doesn’t look good that GM workers are getting a paid vacation while the rest of us work. Instead, the top execs of GM should be in their offices trying to figure out more ways to save cash.
Finally, these pundits are encouraging GM’s CEO Wagoner to take a page from the book of Lee Iacocca, CEO of Chrysler in 1979 when that car company was bailed out. Iacocca developed a plan and then went out and exhibited new models that showed that the car company had a future. These pundits are saying that Wagoner should do the same.
