Why GM Matters: The Untold Story of the Race to Transform an American Icon

by William Holstein and William J. Holstein

Book Overview

In November, GM CEO Rick Wagoner appeared before Congress to ask for $25 billion to bail out the struggling Big Three automakers. To critics like Thomas Freidman and Mitt Romney, it was a sign that... This description may be from another edition of this product.

• Format: Hardcover
• Language: English
• ISBN: 0802717187
• ISBN13: 9780802717184
• Release Date: February 2009
• Publisher: Walker & Company
• Length: 267 Pages
• Weight: 1.20 lbs.
• Dimensions: 1.1" x 6.4" x 9.5"

Customer Reviews

A timely and impressive piece of journalism

"Why GM Matters" stands out as an excellent piece of journalism. In recreating his meetings with players at all levels of GM's hierarchy, Holstein represents the company's structure in a compelling and colorful way. And while he's clearly open to the possibility that GM is not the dying beast it's reputed to be, his analysis and discussion of the company's darker days - especially its failure to acknowledge its own weaknesses for almost two decades - are their own rebuttal to reviewers who suggest he's overly credulous. This is no apologia. I've never been particularly interested in the automotive industry, but gave this book a shot at the suggestion of a friend. As a member of the generation that (as one of Holstein's subjects aptly notes) has accepted American cars' inferiority as revealed wisdom, this book was particularly interesting food for thought. I'd recommend it in particular to students of American anthropology and sociology.

Every American Should Read This

This is an excellent book that should be read by every American BEFORE they form their opinions about the current crisis in the American auto industry. Then, and only then, will their opinions be informed opinions based on facts rather than heresay and misguided information. Buy several copies and give them to your friends.

Why GM Matters

After reading this book I am sure you will agree with its title "Why GM Matters." The storyline is very factual and well written. I have worked at General Motors for over 35 years and I believe Mr. Holstein has done an excellent job recreating the past and present stories of General Motors. It covers GM from it early beginnings 100 years ago but, focuses primarily on GM's recent struggle to survive. This book highlights GM's continued efforts to improve and transform its company over the last decade. GM recognized its short comings long before the current World-wide economic meltdown occurred. The greedy practices of the public financial sector have racked our economy. It's pushed the Detroit 3 and others to the brink of bankruptcy. Now Congress is placing greater scrutiny on Main Street thanks to these failures on Wall Street. This has placed GM right in the cross hairs of legislators on Capitol Hill. I recommend reading this book before anyone draws any conclusions regarding General Motors and its future. It should be mandatory reading for some of the Congressional Senate and House Leadership debating the future of the Auto Industry. Much of what you read in the media bashes Motor City for its past excesses; this book provides a fresh, timely and competitive perspective.

A Timely and Excellent Assesment of GM

Bill Holstein has written an excellent assessment of America's biggest car maker. This neat, tight little book is stuffed with penetrating reporting and useful insight. Moreover, it is a brave book since it charges into a tumultuous, uncertain situation without the comforts that historians normally enjoy. In a spare 267 pages, Holstein puts his neck on the line knowing full well that this isn't a blog post that he can go back to later and update. Holstein's years as a business journalist covering the auto industry in the U.S. and in Asia are clearly evident. He walks us through General Motor's rich history and how it became an iconic U.S. corporation. GM evolved into the corporation model for the 20th Century with hundreds of thousands of workers, complex management systems and extensive benefits that remain tremendous financial burdens. Holstein takes us all around from design laboratories to the assembly line floors. He quickly lets us know in detail how GM stumbled and was overtaken by Japanese competitors and how GM sought a comeback by chucking sideline electronics companies and turning its manufacturing processes upside down. It is easy to trash GM these days and to Holstein's credit, he doesn't fall into any such trap. He notes how GM management came to realize in the 1990s just how far behind they had fallen and how they had to reinvent themselves. Was it entirely successful? Obviously not, since GM is close to bankruptcy. But consider the facts. GM really did improve the quality of its products. For example, I had shunned American cars when I got out of college in the 1970s. When I came back from an overseas assignment in 1996 and bought a Chevrolet Blazer, I was stunned at how much better made it was than GM cars had been years before. As for sticking with gas-guzzling SUVs, okay, all car companies stumbled, but let's not forget that sales are driven by market demand. In the SUVs' heyday 15 or so years ago, gas prices were incredibly low and without high prices at the pump, behaviors aren't going to change. Holstein takes us into hopes upon which GM is basing its future if not its survival, namely the electric Volt, which, unlike Toyota's Prius, is not a hybrid powered in part by a gasoline engine. He might have taken his predictions of Volt's possible success or failure a little further, but he certainly explains the strategy well. Like any author writing into a storm, Holstein had to quickly rewrite his last chapters as the book was heading to the printers. Once the subprime mortgage crisis hit last summer, economic events were changing at warp speed. GM's chronic cash problem became dire and the firm's weakness became all too clear. Holstein does a good job in his rewrite and brings up some political issues that others have missed, such some perspective behind Alabama Senator Richard C. Shelby's sharply-worded put down of GM's bailout request last fall. Shelby's Southern region, Holstein notes, is chock-a-block with foreign-owne

Interesting look at an important issue

American manufacturing is dying. This book provides an interesting look at what went wrong, and GM's attempts to fix it.