From today's Detroit News:
"Bob Lutz, vice chairman of General Motors Corp. and a former Chrysler president, told The News on Monday that Cerberus' moves suggested a view that Detroit executives don't know what they were doing.Your point is — what exactly? All of what Bob says is true — Wall Street absolutely thinks we're a bunch of hicks — but rather than complain and moan about it, why doesn't he come up with ways to change that belief? Don't actions speak louder than words? [Detroit News]
"Personally, I think it is another reflection of the general Wall Street belief that we are all a bunch of unsophisticated, undereducated Midwestern idiots, who constantly hide behind excuses like health care, undervalued yen, UAW, government regulation, etc., instead of rolling up our sleeves, making the tough calls, the hard decisions, looking at it through fresh eyes, and ending that cozy relationship with the union," Lutz said."