William J. Holstein

About this blog:

I believe that the most important thing Americans have to do is secure their economic well-being in an increasingly challenging, complex world. All the arguments about culture (school prayer, the flag, etc.) are fine for other Americans to have—and they are a healthy sign of democracy. But they are beside the point.

What I have written about all these years is the process of creating wealth, not for any one individual, but for the United States as a whole. Ever since I was a young correspondent witnessing the emergence of China, just after the country opened in 1979, I've held the opinion that we have to get more serious about increasing the wealth of the U.S.

That means focusing not only on how our corporations are run (governance), but also on innovation and productivity/competitiveness. Despite the predicament in which we find ourselves today (and I think we face a tough five-year economic restructuring, not a mild recession), I retain faith in the resiliency of the U.S. economy and the enterprise of American people. If Americans have the right facts, and focus on the task at hand, we can once again get serious about creating wealth, not just playing funny money games.

So come with me on this journey as I explore the complicated issues involved in maintaining the economic health of the U.S

The Washington Post’s Warren Brown praises “Why GM Matters.”
Warren Brown is the top automotive correspondent for the Washington Post and is regarded as one of the deans of the national automotive press corps. Here's what he said in his column yesterday: By Warren Brown April 19, 2009 The perception gap has been a killer ...
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The New York Times Wakes Up to The Perils of a GM Bankruptcy
April 17, 2009--After weeks and months of parroting the line that General Motors ought to go into bankruptcy, lo and behold, the New York http://www.nytimes.com/2009/04/17/business/economy/17auto.html Times has finally printed a realistic story entitled: "A Quick ...
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Deep Truths About Pushing GM Into Bankruptcy
April 16, 2009--As I've long argued, bankruptcy lawyers and their investment banker allies are trying to push GM into bankruptcy because of the huge fees they can earn. For evidence of how much money is at stake, the Wall Street Journal reports today that Weil, ...
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Is Obama Going to Put the Screws to the UAW?
April 15, 2009--So far, President Obama and his automotive task force run by New York investment banker Steve Rattner have fired Rick Wagoner as chairman and chief executive officer of General Motors and put major pressure on the holders of GM bonds to accept ...
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GM in Bankruptcy: Could it be Obama’s Iraq?
April 11, 2009-- I see a parallel between the George Bush decision to invade Iraq and the Obama administration's posturing on bankruptcy being the best outcome for General Motors--Bush went into Iraq without knowing the difference between a Shiite and a Sunni. And ...
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An Intelligent Critique of GM, And My Book, From an Insider
April 8, 2009 Mr. Holstein, Your book entitled Why GM Matters was enjoyable and it provided insight into their globalization structure, design centers, etc. GM certainly does matter, and they will no doubt survive even if it is under duress. Having worked for ...
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Beware of Corporate Governance Overreach
April 7, 2009 As a result of years of covering chief executive officers and boards of directors, I’m convinced that there needs to be a very delicate balance between CEOs and directors. That balance is key to making sure that the CEO and his or her management ...
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My remarks at Columbia University--April 6
http://www2.gsb.columbia.edu/flash/cbsplay.html?video=centers/CJEB/CJEB_twobehemoths_4-6-09_34305 ...
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Why Steve Rattner Must Resign from the Obama Automotive Task Force
April 5, 2009--There were two dramatically different stories about Steve Rattner in today’s newspapers. One was a preposterous puff piece in the New York Times by Louise Story praising Rattner for having a socialite wife, Maureen White, who helped him raise ...
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BusinessWeek Review by David Kiley--And My Response--
April 5, 2009 A Rose-Colored Look Under GM's Hood Ex-CEO Wagoner may not be to blame for all the automaker's troubles, but William J. Holstein's new book, Why GM Matters, pulls too many punches By David Kiley In Why GM Matters: Inside the Race to Transform an ...
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Who Authorized the Firing of Rick Wagoner?
April 3--The Obama administration says that it believes in transparency so here is a question that I think must be answered: who authorized Steve Rattner to fire Rick Wagoner on the spot at a meeting a week ago today? Rattner is a New York-based former journalist ...
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The Myth of a Good GM vs. a Bad GM
April 1--It's not clear who's idea this is, but we are reading that the Obama administration is considering splitting General Motors into two parts, one a Good GM including Cadillac and Chevrolet and the other a "bad GM" that would be liquidated. I think this ...
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My Op-Ed in The New York Times
March 31, 2009 Op-Ed Contributor One Roadblock Too Many for G.M. By WILLIAM J. HOLSTEIN PRESIDENT OBAMA’S stunning decision to demand that Rick Wagoner resign as chairman and chief executive of General Motors was based on the wrong set of premises and raises the ...
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Remaking GM’s Board: Is Washington Smart Enough to Do That?
March 30--In addition to making a mistake in pushing Rick Wagoner out of General Motors, the New York Times says the Obama administration task force on autos is going to replace most of the company's board of directors over the next few months. This is new ...
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Pushing Out Wagoner: A Bad Move, and a Taste of What’s to Come?
March 30, 2009--The Obama administration's decision to force Rick Wagoner out as chairman and chief executive officer of General Motors is sheer political theater. It does not reflect an understanding of what GM has been doing in an attempt to transform itself and ...
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