Admit This

Memo to The Big 3

The smartest guys in the room weren't the CEOs of GM, Ford, and Chrysler when the Big 3 leadership made their first beggar's appeal for a bailout before Congress. Imagine going to a bank (one that's still in business) to request a loan for your business and not bringing a business plan with you! You would be either asked to leave or laughed at (or both, not necessarily in that order). That's exactly what the Big Bozos did in their first congressional appearance. Now they've come back with some plans and a bigger tin cup.

What a waste. What they should have done was to solicit business model solutions from students at America's business schools. Forget the economic “experts" like Greenspan, Paulson, and Bernanke. These guys obviously don't know what they're doing either. The real knowledge and power lies with the business students, in my opinion, or possibly the wide-open general public.

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