If it walks like a lame duck, talks like a lame duck . . . . During an interview with Fritz Henderson, the New York Times asked the GM CEO if the bankrupt automaker needed someone from outside GM to inject a little fresh blood. Fritz didn’t care for the insinuation. “Carlos Ghosn was no outsider [when he turned around Nissan]. Lee Iacocca wasn’t an industry outsider when he took over at Chrysler.” That’s right, Fritz, but neither of them had spent their entire working life sipping the corporate Kool-Aid at the company they saved. You, on the other hand, have never tasted any flavor but GM Grape. As former GM Director and current behind-the-scenes talent spotter Jerry York points out, “Fritz might be 20 percent better than Wagoner, or maybe 50 percent better, but the question is, is that good enough?” Talk about damned by faint praise . . . What’s the bet that the new, government-appointed BOD’s answers “no” after they ”evaluate whether Mr. Henderson deserves to hold his job more permanently”? Place your wagers on Henderson’s defenestration date below.
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