Monday, June 1, 2009
WHAT'S GOOD FOR GENERAL MOTORS...
Posted on 5:52 PM by Unknown
The head of GM, Charles Wilson, became the Secretary of Defense under President Eisenhower.
During one hearing, related to some controversy over whether Wilson was favoring GM as a supplier, (GM at the time was the archetypal model of a huge, efficiently managed company doing consumer and government business -- but solely interested in its own success), Wilson is reported to have defended his actions by saying "What's good for General Motors, is good for the country." (Note: That quote in context might have been somewhat less pointed.)
It was roundly denounced.
Indeed, Eisenhower's finest moment as President may have been his farewell speech, warning about the "Military-Industrial Complex" (including companies like GM).
It is very amusing that President Obama refers to that famous remark, giving it a new, ironic justification, in closing his speech on the GM bankruptcy.
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