Europeans and Japanese should applaud the democrat representatives favouring a GM bail-out, as it will largely benefit their auto companies with US tax payer money

General Motors (GM) is a disaster story. For more than two years now, I have been discussing with my Global Executive MBA classmates that this firm should go out of business. First they thought I am crazy. Then they asked me which part of GM. And I answered: “The whole Titanic ship, including all the parts which do not fall off early enough”.

This is what I call the Titanic syndrome and I have observed it many times with many companies. When times get tough, good people and businesses are the first to seek and exit from the mother ship. Good people are the ones who keep the ship running. They are the ones who generate the revenues and more important the profits!

Those who …