GM’s shift toward “green” electric cars (which no one wanted) and away from trucks and SUVs (which are now dominating the market) led to this disaster. They were already in trouble years ago, of course, because of poor management, and then had the brilliant idea that sucking up to Obama and doing his bidding would be a winning strategy.
GM “chose poorly.”
GM’s shift toward “green” electric cars (which no one wanted) and away from trucks and SUVs (which are now dominating the market) led to this disaster.This is a disaster for the workers but it isn't because GM isn't performing fairly well. They're very profitable and their stock price is up.
In fact, this is the kind of strategic thinking they need to be doing to remain profitable.
This is almost exactly Ford's strategy, just announced a few months later.