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Quote by Edward Whitacre, Jr.

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Edward Whitacre, Jr.
Edward Whitacre, Jr.

Edward Whitacre, Jr., born on November 4, 1941, is a prominent figure in the business world, known for his significant contributions to the telecommunications and energy industries. His career has been marked by his roles in senior management positions. more

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“I was brought in by the White House as GM's chairman in 2009, around the time of the bankruptcy, and became CEO later that year. As a company, we were grateful for the government's support. But as GM's financial health began to improve, I could detect no real sense of urgency, or even interest, on the part of the government to relinquish control.”

“TARP is funded by taxpayers, so there are many rules about how that money can and can't be used. The result: GM spends an awful lot of time checking in with the people who administer TARP over everything from hiring to executive compensation and management. For a global company, that adds up to a lot of distraction.”