

For the past few weeks there has been a desperate endeavour to constructively kill time at the summer training, and with the placement season approaching, i have this dire need to improve my business acumen . In the pursuit , i have resorted to some thing called the economic times , for the first two weeks i was not able to Decipher( literally , it is cryptic) anything , but managing to persevere in absence of an alternate occupation, something eventually came about that i could make sense of , so in jubiliation of loosing my making-sense-of-economic- times -virginity........
It was about General Motors , it was being unceremoniously dropped from the dow jones index, it had also dropped CITI & AIG , GM entered dow in 1915, dropped subsequently, and added again in 1925, it failed due something as put by David welch, 'Profitless Prosperity' which included deals like 0 percent financing , and fat rebate checks and it also had a huge cost disadvantage of paying retirees pension,union contracts made quick downsizing impossible , it grew so big and convoluted that company suffered an almost 40 years of nearly non stop decline General Motors currently employs approximately 386,000 people around the world and pays them overall $21.5 billion a year and now it has finally arrived in bankruptcy court.
it was put by David Welch as :
See, GM viewed its market share the way Michiganders view their thermostat in February. If you want to be warm in Detroit, just crank up the thermostat and you can walk around your house in Bermuda shorts. When the bill comes the next month, you panic, turn the heater down to save money, and pull on a wool sweater.
source: wiki,www.spiegel.de
