Why is it that shareholders could not oust incompetent management from the auto companies, but congress will?

We've seen people like Kirkorian and Lee Iacoca shake these boards up, but no one else appears capable. No finally congress is seeing and reacting to what most of America has known for decades. The management of the auto companies is the source of their problems. Why haven't the shareholders of GM, Ford and Chrysler been able to make changes that are now so long overdue?

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  • 1 decade ago
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    Because they only live quarter to quarter and lack the ability to think beyond the next dividend check.

  • 1 decade ago

    My guess is that the shareholders were apathetic as long as their stocks were not losing in value. By the time the stock prices started to fall, it was too late to do anything about it.

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