Great feedback, readers. It has made me think of another discusion I've been having: do businessmen make great leaders? I'm thinking of how Mitt Romney keeps holding up his VC credentials and there's no question he's a good businessman. We could use more business sense in the government...but who is the last great politician -- anywhwre in the world -- that started out as a businessperson?
I am glad that Detroit is paying back bailout money. As in business investment some companies will make it others will not. Brokers differ in opinions and we have many investment companies. Each political party has its own interests and individual business may go out of business. Then the blame game begins and it is easy to do. Parties objectivs are clear and easy targets.
Because of political presence in Industry, most of the industrial policies or regulations formed by government have these fellows influences.
@Jacob, you are absolutely correct. Infact many industrialists become political leaders so that they can tweak the policies related to their domain. I think strict laws should be ammended so that conflict of interest doesnt arise during policy making.
I also agree that business and politics shouldn't mix. However, that is a much bigger problem than this one particular event. Once the government started bailing out failing entities, they opened up the door to a much bigger problem. Everyone is saying, why not me?? I understand why the government had to step into certain situations but now they've extended themselves beyond what would consider reasonable and they are doing it with our tax dollars. That's what government does, they take our tax dollars and they are free to spend it how they see fit. We, unfortunately do not get a vote..
I agree with you on this, Barbara. The investment in the company doesn't seem worthwhile at all. The tax payers do have a right to question it and I appreciate your efforts in raising the issue. With the $535 million granted, one can only hope that the money is able to bring about a turnaround in the company and drive it towards profitability. If not, then that's $500 million truly wasted.
"As complicated as business is, some things are pretty cut and dried -- look at the numbers, measure your risk, and ask a lot of questions. Make a decision based on business, not politics."
Your comment above is well placed and deserved. It seems like no matter who is in charge and no matter what level of government were talking about, decisions are primarily made without politics coming first, business sense second. I agree that I get rather flustered at the fact of seeing my tax money get thrown around frivolously for political gain rather than for our countries financial gain.
It is unfortunate that some of these decisions can't be made by business people and not politicians with agendas. But what's $500 million lost if you've gained ground with the people.
Barbara, “Don’t mix business and politics” is a common phrase. If we closely watching the board of directors or chairman designated, most of them are political leaders. Because of political presence in Industry, most of the industrial policies or regulations formed by government have these fellows influences.
The answer is: to save jobs and preserve one of the american "promising" businesses. Unfortunatly it didn't work.
@Hospice_Houngbo I totally agree with you. I dont want government to be mute spectator to all the events that are unfolding. If government wouldnt have taken any proactive steps in 2008 most of the banks would have had already collapsed by now.
In another example, how did the government's artificial efforts to boost home ownership in the U.S. turn out??
@pocharle Lets not blame the government for all the mess that has been created. Lets not forget that whole mess of 2008 started because of greey banks and corporate sector and not the government. I am not sure if any other government would have handled this mess in better fashion.
EBN Dialogue enables and encourages you to participate in live chats with notable leaders and luminaries. Not only editors and journalists, but the entire EBN community is able to comment and ask questions. Listed below are upcoming and archived chats.
Thailand Stages a Comeback Join EBN contributor Jennifer Baljko on Thursday August 23, 2012, at 11:00 a.m. EST for a live chat on how electronic manufacturers in Thailand have shored up their supply chain to reduce the impact of future natural disasters.
Microsoft Surface: Potential Winners & Losers What are the implications for the electronics industry supply chain of Microsoft Corp.'s decision to launch its own tablet PC? Join industry veteran and EE Times' systems and OEM expert Rick Merritt on Tuesday, July 3, at 12:00 pm EDT for a Live Chat on this subject.
Join EBN contributor Jennifer Baljko on Thursday August 23, 2012, at 11:00 a.m. EST for a live chat on how electronic manufacturers in Thailand have shored up their supply chain to reduce the impact of future natural disasters.
Peter Drucker famously said "Trying to predict the future is like trying to drive down a country road at night with no lights while looking out the back window." Yet in the razor's-edge world of electronics—with a lean supply chain and just-in-time demands—the need to know the future is vital.
While no one really can accurately predict the future, we can take guidance from another Drucker saying which is the best way to predict the future is to create it.
You've heard the saying "the No. 1 supply chain risk is your people." That hasn't always been the case. But today's complex global supply chain requires a new type of multitalented employee. It's one who understands, finance, marketing, economics, is savvy with technology, graceful with relationships and can think analytically.
Where are these people? Are universities properly preparing the next generation supply chain professionals? How do train your existing workforce for these new, demanding positions?
Brian Fuller, editor-in-chief of EBN, will lead a 60-minute Avnet Velocity panel discussion that will ask and answer these and other questions swirling around today's supply-chain talent challenges.