Politicians are about to step in for directors and force sweeping changes on the Detroit car companies, judging from the direction
of talks in Congress.
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,
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?