Just how bad a spot is General Motors in today? So bad they actually felt the need to apologize for how much their products suck:
“While we’re still the U.S. sales leader, we acknowledge we have disappointed you,” the ad said. “At times we violated your trust by letting our quality fall below industry standards and our designs became lackluster.”
The unsigned open letter, entitled “GM’s Commitment to the American People” ran in the trade journal Automotive News, which is widely read by industry executives, lobbyists and other insiders.
In the ad, GM admits to other strategic missteps analysts and critics have said hastened its recent decline.
“We have proliferated our brands and dealer network to the point where we lost adequate focus on the core U.S. market,” the ad said. “We also biased our product mix toward pick-up trucks and SUVs.
If that ain’t a sign of desperation by a company then I don’t know what is. The ad is basically a very public cry of “WE’RE SORRY! WE’LL BE BETTER IN THE FUTURE! WE PROMISE!” It’s a tact I wouldn’t mind seeing some of those assholes on Wall Street take up, but they won’t because they’re too busy handing out big bonuses to the people who ruined the financial market. After all, just because they forced the government into nationalizing some long standing institutions is no reason executives shouldn’t get big bonuses out of it.
I can’t wait to see what future history books make of this whole mess.