How the "New GM" Can Steal from Toyota

Engage Volume 11, Issue 3, December 2010
By Adam Mossoff
December 23, 2010

“What is good for General Motors is good for the nation.” This iconic statement by Charles (“Engine Charlie”) Wilson, the then-U.S. Secretary of Defense and former CEO of GM has long been condemned as an exemplar of corporate hubris. But last summer it achieved something even more important: It became true. When GM moved out of bankruptcy in July 2009, the federal government took a 60.8% ownership stake in this classic American automobile manufacturing company.