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mises
Joined: 05 Nov 2007
Location: retired
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 Posted: Mon Jun 15, 2009 6:09 am Post subject: The 31-Year-Old in Charge of Dismantling G.M. |
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WASHINGTON � It is not every 31-year-old who, in a first government job, finds himself dismantling General Motors and rewriting the rules of American capitalism.
But that, in short, is the job description for Brian Deese, a not-quite graduate of Yale Law School who had never set foot in an automotive assembly plant until he took on his nearly unseen role in remaking the American automotive industry.
Nor, for that matter, had he given much thought to what ailed an industry that had been in decline ever since he was born. A bit laconic and looking every bit the just-out-of-graduate-school student adjusting to life in the West Wing � �he�s got this beard that appears and disappears,� says Steven Rattner, one of the leaders of President Obama�s automotive task force � Mr. Deese was thrown into the auto industry�s maelstrom as soon the election-night parties ended.
�Brian grasps both the economics and the politics about as quickly as I�ve seen anyone do this,� said Lawrence H. Summers |
http://www.nytimes.com/2009/06/01/business/01deese.html
Summers is not a good character reference.
Fox News is a tad more honest about this:
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Here's the one thing and there's absolutely nothing funny about it: the wunderkind in charge of saving our auto industry is a 31-year-old with about as much experience as a summer intern.
Despite having no formal business education, no business experience and no auto industry experience, 31-year-old Brian Deese is now in charge of dismantling General Motors.
So what does this guy's resume look like? It should be impressive, considering he's managing America's $458,000 per day involuntary investment.
Deese grew up in a Boston suburb, the son of a political science professor at Boston College. He moved to Vermont and attended Middlebury College, where he studied political science and also took time to host a campus radio show called "Bedknobs and Beatniks," described in one write-up as "a format of music, news, discussion and banter."
He graduated college in 2000 and then it was onto a pair of non-profit think tanks: the Center for Global Development and the Center for American Progress.
Eventually Deese went to Yale for a law degree, but a few credits short of graduating, he went "on leave" to work on Senator Hillary Clinton's presidential campaign, quickly becoming her top economic policy staffer.
Last summer, Deese moved to the Obama campaign as a deputy economic policy director and, just before this current gig, he served on Obama's transition team as an economic adviser.
He was apparently the only full-time member of the auto task force from election night until about Valentine's Day, which Deese says was, "a little scary."
What should be more than a little scary for GM, much less the American people, is that however smart Deese may be, he has literally no private sector experience; he is not formally trained in economics or business; and, according to The Times, he "never spent much time flipping through the endless studies about the nature of the American and Japanese auto industries."
In fact, until a few months ago, the closest Deese came to an automobile plant, was sleeping in a GM parking lot, where Pontiac G5s have been made since the plant's 1960s heyday.
So, this is what one of those "uniquely qualified" geniuses handpicked by President Obama look like.
Feeling good about your investment, America?
With only one out of five Americans supporting the auto bailout in the first place; I wonder what kind of support there is for the inexperienced Brian Deese to tinker with the auto industry and change capitalism? I'm not an economist, but, like Deese, I am "on leave" from Yale. So I guess that makes me "uniquely qualified" to take a guess at the number: zero.
Which, ironically, is just a hair less than what GM's stock is now worth. |
http://www.foxnews.com/story/0,2933,524757,00.html |
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Rusty Shackleford
Joined: 08 May 2008
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| Posted: Mon Jun 15, 2009 6:32 am Post subject: |
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http://www.nytimes.com/2009/06/01/business/01deese.html?_r=1
The first time I read this I thought it was an article from the Onion or something. It truly beggars belief that this is possible. How could he possibly be competent to restructure a company that defied some of America's top business execs?
This is pretty much exibit A for the case against central command economics. |
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mises
Joined: 05 Nov 2007
Location: retired
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| Posted: Mon Jun 15, 2009 6:44 am Post subject: |
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| Rusty Shackleford wrote: |
http://www.nytimes.com/2009/06/01/business/01deese.html?_r=1
The first time I read this I thought it was an article from the Onion or something. It truly beggars belief that this is possible. How could he possibly be competent to restructure a company that defied some of America's top business execs?
This is pretty much exibit A for the case against central command economics. |
He is a patsy, like Timmy and that Kashkari guy they put in charge of TARP. |
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bacasper
Joined: 26 Mar 2007
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| Posted: Mon Jun 15, 2009 8:23 am Post subject: |
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The idea is to destroy/dismantle GM, right?
This strategem was taken straight out of the plan to destroy Al-Qaeda:
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| 3� Fire the current Al Qaeda leaders and replace them with a CEO hand-picked by Obama and Geithner, who will, naturally, have no previous experience in the operation he�ll be in charge of. |
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Robot_Teacher
Joined: 18 Feb 2009
Location: Robotting Around the World
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| Posted: Mon Jun 15, 2009 6:51 pm Post subject: |
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They would only hire a young unqualified young man for being related to someone in high places as well as having been sent to an Ivy League uni. The good jobs are handed out on silver platters via nepotism; not merit.
I seriously doubt a comfortable rich spoiled boy with no real world experience can actually do anything to help the company, employees, investors, or anyone else. Today's restructuring is more along the lines of destructuring to nothing just like how managers cut their own throats by letting their talant down to cut costs as to downsize in attempt to get short term profits. It's been going on for 10 years straight now to the point of the economy and capitalism being in jeopardy of maintaining sustainability. Don't expect much. |
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