Tuesday, July 14, 2009

Whitacre at GM

I still can't believe that they hired former SBC CEO Ed Whitacre as Chairman for the New GM. What amazes me is how thee are no parallels between GM and SBC. GM is not a monopoly and does not have favorable legislative or regulatory aid. SBC was a Baby Bell that through mergers rebuilt AT&T. Is that what he will do with GM? Rebuild the old GM?

As CEO of AT&T and predecessor Southwestern Bell from 1990 to 2007, Whitacre built the smallest of the so-called Baby Bells into the world’s largest telecommunications company. He retired with a compensation package valued at $158.5 million, according to the Corporate Library in Portland, Maine.

Nice. I wonder how much we are paying him for the GM gig.

On to BTOP...

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