Bob Lutz, former vice chairman of General Motors and author of Car Guys vs. Bean Counters: The Battle for the Soul of American Business, argues American industry needs to focus on products, not share price.
The American auto industry traveled a bumpy road in recent years. The big three auto makers watched their profits fall throughout the Great Recession. The Troubled Asset Relief Program saved Chrysler and General Motors from total ruin, but the American car industry was suffering long before the recession began. Bob Lutz was the vice chairman of General Motors from 2001 to 2010. His new book is "Car Guys vs. Bean Counters." He analyzes the auto industry and the culture of business.
"Our goal is to get back to being a wholly-privately-owned company in two or three years — at the latest four years. And that's the government's goal too."
—GM vice-chairman Bob Lutz on the state of the company