Quote Of The Day: Earth To Ed Whitacre Edition
It’s easy to blame GM’s new Chairman and CEO’s recent webchat performance on the format. Webchats invariably combine the awkward claustrophobia of conference calls with the eloquent clarity of text-messaging, for a match made in communication hell. That’s no place to properly explain what the NSFW is going on with your company. Especially when you have yet to comment on the “Opel drama,” “palace coup,” “tilt-a-executive,” and “getting in bed with the Chinese” storylines (among others). Needless to say, the MSM is not amused. Nor, frankly, am I. Which is why today’s quote of the day is actually nine days old.
I promise all of you we’ll make ourselves available in the next few days to spend more time with you answering questions. And I know you must have a lot of them
Nearly ten days later now, Whitacre’s only attempt to make good on his promise was the webchat, which might best be summarized in the following exchange:
Even by webchat standards, that’s not even trying. Or has Maximum Bob been advising Whitacre on how to “exercise enormous skill in the non-answering of questions?” If so, it’s a questionable strategy for the new CEO of a 61 percent government-owned company. Sure, Whitacre talks to the government “about once a week,” but he has yet to explain his vision to the American public that made his expensive executive escapade possible.
Oh yeah, and that he’s counting on to buy his vehicles. :-)
More by Edward Niedermeyer
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Guys, welcome to the Brave New World. No exec and and I mean NO exec is going to say diddly squat without it being checked eight ways from Sunday by PR and Legal. Both the courts and the SEC have come down hard on anybody that has had any conversation that might "lead to material effects to the share price" considering it to be insider info if it isn't disseminated as a press release. Sad but reality. So don't expect any relevant off the cuff comments that might show anyone's hand. Ain't gonna happen.