GM: We did not invest in our future

Excellent NYT article that basically sums up the problem with General Motors. Yes lack of consumer financing caused a dramatic sales slide but the bigger more pressing issue is that the company neglected to invest in its future, typically by pulling the plug on initiatives that did not pay out in the immediate future. It's quite sad and should be a warning to companies that sacrifice R&D for short-term gain. 

Hat tip [Autoblog]