GM could have been exhibit 1 in the book: 'Sway: The Irresistible Pull of Irrational Behavior'
They believe they are 'pot committed' (poker term) to the gianormous suv - - basically the leadership (or lack thereof) can't take the objective view, see that the landscape changed and cut their losses (aversion to loss).
This will be just another industry taxpayers will have to bailout...
GM could have been exhibit 1 in the book: 'Sway: The Irresistible Pull of Irrational Behavior'
ReplyDeleteThey believe they are 'pot committed' (poker term) to the gianormous suv - - basically the leadership (or lack thereof) can't take the objective view, see that the landscape changed and cut their losses (aversion to loss).
This will be just another industry taxpayers will have to bailout...
sigh