Today's Daily Ticker guest Bob Lutz has nearly 50 years of experience in the auto industry. Most of that career was spent with Ford and General Motors, from which he retired in 2010 as the vice chairman. Known as an outspoken, straight-shooting executive, Lutz is also an unabashed car lover.
Now in retirement, Lutz is still as vocal as ever about cars and the auto industry. In his new book, Car Guys versus Bean Counters: The Battle for the Soul of American Business, Lutz documents what he believes was the greatest factor in the demise of the U.S. auto industry.
No, it's not the unions (although that contributed). No, it's not uncompetitive wages compared to Asian manufacturers.
His answer: "Management incompetence."
Over the course of his career, "management became way too scientific, B-school oriented; way too cost-focused; and it was almost considered childish to be to be enthusiastic about automobiles," Lutz explains to Aaron Task in the accompanying clip.
Lutz says auto executivesRead More »from Former GM Vice Chair Blames ‘Management Incompetence’ – Not UAW – for Detroit’s Demise