81-year old former Federal Reserve Chairman Paul Volcker is at the top of the list of candidates for the role of Car Czar that would be created by a bailout of the auto industry.Speaker of the House Nancy Pelosi has suggested that he would be a choice "acceptable to both sides" and a person close to Mr. Volcker told (subscription required) The Wall Street Journal that Volcker would "probably do it" with enough persuasion.
Mr. Volcker already serves as a key adviser to President-elect Obama, but lacks any experience with the auto industry. There is considerable debate about whether auto experience is necessary to serve as competent car czar.
To me though, the auto industry needs a more charismatic leader to be the face and voice of its turnaround plan. There's no question that Volcker is brilliant and respected, but let's face it: He's an octogenarian economist, not exactly the kind of person we can look to to breathe life into an industry that needs something to get it going.
Jack Welch has also been named as a possibility, but he seems a little bit washed up. How about a visionary leader who's led a turnaround in a completely different industry? Steve Jobs, perhaps, if he could be persuaded for the good of his country?
The fact is that the bureaucratic details of the bailout will be handled by staff: What is needed is vision and excitement.
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Reader Comments (Page 1 of 1)
12-11-2008 @ 11:14AM
widollar said...
To me though, the auto industry needs a more charismatic leader to be the face and voice of its turnaround plan. Jack Welch has also been named as a possibility, but he seems a little bit washed up.
I wonder how old "Neutron Jack" Welch feels about these comments! As to a "car guy" being the right person to be auto czar, the current guys running Ford and Chrysler are not auto guys! The "hard as nails" guy that used to run American Airlines "Robert Crandell" would certainly have the talent and critical skills for the job!
12-11-2008 @ 1:33PM
Chris K. said...
Why would you ever entertain the notion that a government appointed position would be filled by a "charismatic" or "visionary" leader? Has that ever happened?
What you are saying is generally true, but the BoDs from these firms should have figured that out a long time ago and picked CEOs accordingly.
In response to the previous poster, I don't think Bob Crandall who you really want in the spot either. Really, an airline guy trying to fix and industry?