Senate Banking Committee Chairman Chris Dodd yesterday called for the firing of General Motors chief Rick Wagoner and said privately held Chrysler should merge.
Dodd isnÃ¢??t alone in suggesting top managers drove the companies into the ground. But his comments raise additional questions about the depth of the companiesÃ¢?? bench strength.
If C-level managers and even directors were to be replaced, how strong are the professionals Ã¢?? the engineers, designers, marketers, accountants Ã¢?? who would still be in their cubes and offices? In other words, as the companies lost market share and prestige over the past 30 years, did they attract college graduates who can hold their own in one of the most competitive industries in the world? Or have the Detroit Three been populated with people who wonÃ¢??t be able to contribute to turnarounds no matter who leads them?