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The Corporate Value That Wrecked GM

Matt Kelly | June 9, 2014

Yes, yes, yes—everyone in the universe is complaining about General Motors, and the disastrous corporate culture there that led staffers to keep critical information from the board about ignition failures in the Chevrolet Cobalt.

In just a few keystrokes you can find plenty of columns about whether the chief compliance officer should have played a stronger role, whether the former CEOs should have set a different tone at the top, whether the legal department obsessed so much over litigation that it neglected GM's ethical responsibilities, and so forth and so on. You can find any number of analyses, most of them quite good, and most of them not quite reaching the root problem.

Here is the prime fact for GM: it had a culture of cost-cutting. That's what put the company into its current predicament, and I don't see that culture changing in much of Corporate...

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