Fuchs likes BusinessWeek piece on GM

TheStreet.com’s Marek Fuchs, who admits that he rarely finds a business journalism article that makes him smile, is all gushy about David Welch’s piece about automaker General Motors in the most-recent BusinessWeek.

Fuchs wrote, “Taking the form of an open note to General Mayhem — er, Motors — Business Week says size doesn’t matter. Let Toyota be No. 1 and put up with all the scrutiny and other baggage of that status. If it doesn’t come harnessed to automatic profit — and it doesn’t — why spend billions for the opportunity to thump your chest? At least in sports, you get a parade if you win. In business, you get a few meaningless headlines.

“Business Week is not suggesting that General Motors become some fringe element in the auto business. And you might think the advice is trite, a bit simplistic.

“But as Business Week is right to point out (good little scribes, good), the Head Fred of GM, G. Richard Wagoner Jr., is talking a good game about profits — but the gasbag is also thinking about buying Proton Holdings. And while a purchase of the distressed Malaysian carmaker would help in the market share department, you have a better chance of seeing The Business Press Maven eat humble pie than you do of seeing Proton ever contribute to GM’s bottom line.”

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