Wow... how the mighty automobile icon of America has fallen! It actually ran out of gas!
GM stocks tumbled from a >$20US two years ago to a mere $2.67US today! And GM is now considering (or perhaps have already considered) bankruptcy. Just a year ago, the reowned financial institution Citibank fell heavily, wiping out 93% of the stock value. And not too recent it traded for $1.00US! Wonder if one can actually buy a bank from eBAY.
What gives? Why the sudden shake-up? Didn't we pay millions to the top executives to put in place robust measures so that the company stays afloat during crisis? What had happened?
I am fully convinced that paying top dollar to senior executives will NOT steer a company away from disasters or crisis. I believe rewards and encouragements go all the way down to the last man in the company doing mundane or administrative tasks.
