On Wednesday of this week, General Motors Chairman and CEO Ed Whitacre had gathered company employees (and about 16 different TV networks) for a big announcement. Five years ahead of schedule, GM had managed to pay off the debt it owed to the Federal Government. (coverage here: http://bit.ly/bD0Atr)
Amazingly enough, the company had advertisements running on TV the very next day featuring the same Ed Whitacre promoting his firm's debt payoff as a sign that the company was back.
Given what it takes to pull together an event like what GM hosted at its plant in Kansas City and the effort it takes to prepare an ad for national TV that features the company CEO, one might wonder if GM knew all along (or almost from the beginning) that the time frame for repaying debt to the government was purposefully longer.
Would one count withholding material information about a company's financial health from shareholders (you know, us, the taxpayers) as a breach of regulation? Or, as I might say, was this a stroke of genius by the company's reputation managers?
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment