Re: [Pen-l] revealing quote from new GM chairman

[Jim Devine <jdevine03@xxxxxxxxx>]

He also embodies a truth about business under capitalism: GM isn't about producing cars; it's about producing profits (if possible).

On Wed, Jun 10, 2009 at 6:39 PM, Eugene Coyle <eugenecoyle@xxxxxxx> wrote:

Sounds like a trained economist.  "A business is a business.  They all have a U-shaped cost curve and should set marginal revenue equal to marginal cost to maximize profits."  But Whitacre is much smarter than 99% of trained economists.

Gene

On Jun 10, 2009, at 6:03 PM, raghu wrote:

What kind of qualifications does it take to be an executive of a huge
corporation? Apart from a complete lack of shame and a huge sense of
entitlement that is.

http://www.bloomberg.com/apps/news?pid=20601109&sid=a.quj9vK5PhI
---------------------snip
“I don’t know anything about cars,” Whitacre, 67, said yesterday in an
interview after his appointment. “A business is a business, and I
think I can learn about cars. I’m not that old, and I think the
business principles are the same.”



-raghu.
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-- 
Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own way and let people talk.) -- Karl, paraphrasing Dante.
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