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

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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Japan’s Exports Plunge 49 Percent: We Told You So
MARCH 26, 2009--I’ve been involved in the U.S.-Japanese debate for nearly 25 years, ever since I joined Business Week in 1985 and subsequently published “The Japanese Power Game” in 1990. For all these years, various American negotiators and pundits, ...
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Obama--Don’t Overreach on CEO Compensation
March 22--Now comes word that President Obama will call for increased oversight of executive compensation at all banks and possibly at other publicly traded companies that report their pay practices to the Securities and Exchange Commission. Part of what Obama and ...
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Boy, Did I Get This One Wrong--The drama about the Obama Administration’s Intentions is Over
News that the Obama Administration task force on autos is preparing to distribute $5 billion to auto parts makers is a clear signal that they are determined to prevent the bankruptcy of General Motors and probably Chrysler, at least in the short term. I agree with ...
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Nick Kristof Nails What’s Wrong With the Media--And American Society
March 19--I don't always agree with Nick Kristof of The New York Times when he tries to focus American concern on things we can't change, like a war in Darfur or Pakistan's treatment of women. But today, he really nailed it when he described what is happening to ...
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Buick Has Better Dependability than Toyota
March 19--Here's a stunner. According to J.D. Power and Associates, Buick has tied with Jaguar for best vehicle dependability. That means General Motors is making a product that is better than what Toyota makes. So all the voices arguing that GM just can't ...
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Media Bias in Coverage of General Motors
March 16--I've been exposed to many media outlets as I have promoted "Why GM Matters" and can see a very clear pattern of bias. It's different on different ends of the ideological spectrum. On the right, Fox News is preoccupied with the role of the United Auto ...
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A New Chapter in U.S.-China Relations
New York, March 14-- For decades, and perhaps centuries, the United States has believed that it was in a position of superiority over China. The missionary mindset has prevailed from the time that Christian missionaries tried to convert the Chinese to a new ...
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More Listener Reaction to My Appearance on ABC radio
From Todd in Iowa: Date: Sunday, March 1, 2009, 7:46 PM Hi Bill, I forced myself to listen to Rush Limbaugh on Fox News, seeking to have an open mind during his lengthy speech. Maybe you can help me.? He is blatantly accusing the Democrats of punishing ...
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GM and Health Care Costs--I Stand Amended
I said today on a nationally syndicated ABC radio show that the Japanese and German governments pay for the health insurance costs of their workers, which has helped companies from those countries compete against GM. While the thrust of what I said remains true, ...
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Here are five reactions to “Why GM Matters” from readers
Feb. 24: Dear Mr. Holstein: I have recently read your book 'Why GM Matters' and wanted to write to you and express my gratitude for taking a fresh, and in today's world, courageous look at GM. I have recently retired after a 42 year career with GM. In my last 6 ...
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