| 00:00:00 | AND WE WOULD NOT BE TALKING ABOUT GENERAL MOTORS, WOULD WE? |
| 00:00:03 | IT WAS A SHOT TO SEE THE COUNTRY GO -- SEE THE COMPANY GO INTO BANKRUPTCY. |
| 00:00:13 | I WAS NEVER REALLY WORRIED ABOUT GM GOING INTO BANKRUPTCY BECAUSE I KNEW THE WORK THAT GM HAD BEEN DOING ON NEW PRODUCTS FOR THE PAST FIVE YEARS. |
| 00:00:27 | BUT THE TUG OF GM WENT INTO BANKRUPTCY, IT WAS A COMPLETELY DIFFERENT GENERAL MOTORS TREATED THIS IS WHAT I MEAN BY THAT. |
| 00:00:39 | TOSS TO GENERAL MOTORS. |
| 00:00:41 | THIS IS WHAT I MEAN BY THAT. |
| 00:00:43 | THE SPIRIT HAD COMPLETELY CHANGED. |
| 00:00:52 | WE WOULD GO TO DETROIT TO DO INTERVIEWS AT GM AND YOU COULD HEAR THE SHUTTERS COMING DOWN. |
| 00:01:04 | WE COULD NOT SPEAK TO ENGINEERS WITHOUT HAVING PUBLIC-RELATIONS PEOPLE AROUND US. |
| 00:01:12 | THESE DAYS, THE STYLISTS AND THE ENGINEERS ARE CALLING YOU. |
| 00:01:18 | WE WANT TO SHOW YOU WHAT WE'VE GOT. |
| 00:01:21 | THERE IS A SENSE OF PRIDE AT THE PLACE. |
| 00:01:25 | THEY REALLY BELIEVED IN WHAT THEY'RE DOING. |
| 00:01:27 | MANAGEMENT FINALLY HAS GOTTEN COMMON SENSE ENOUGH TO UNDERSTAND THAT IF YOU HIRE SOMEONE TO BE AN ENGINEER, MAYBE YOU SHOULD LET HER BE AN ENGINEER. |
| 00:01:43 | LET HER DO HER BEST WORK. |
| 00:01:49 | AND PAY HER FOR IT. |
| 00:01:50 | ENCOURAGE HER. |
| 00:01:53 | SO, THAT GM, THAT IS A GM THAT WENT INTO BANKRUPTCY,. |
| 00:02:04 | PORT RICK WAGNER -- COOLERPOOR RICK WAGNER. |
| 00:02:15 | HE DID EVERYTHING HE POSSIBLY COULD. |
| 00:02:19 | HE DID EVERYTHING HE POSSIBLY COULD DO, PUTTING MOST OF HIS HEAD OFFICES ON IMPROVED PRODUCTS, IMPROVED PRODUCT QUALITY, THROWING BILLIONS OF DOLLARS INTO IT, TAKING ALONG OF LOANS AND THAT PART OF HIS REIGN WAS SUCCESSFUL. |
| 00:02:39 | THE PART OF WAGNER'S RING THAT WAS A FAILURE WAS THAT HE WAS TOO NICE OF A GUY. |
| 00:02:46 | HE COULD NOT BRING HIMSELF TO SHUT THE PLANTS AS QUICKLY AS THEY SHOULD HAVE BEEN SHUT. |
| 00:02:50 | HE COULD NOT BRING HIMSELF TO GET RID OF INDIVIDUALS THAT SHOULD HAVE BEEN GOTTEN RID OF. |
| 00:02:55 | HE COULD NOT BRING HIMSELF TO FIRE PEOPLE THAT HE PROBABLY SHOULD HAVE FIRED. |
| 00:03:01 | SO, HE GOT FIRED. |
| 00:03:04 | NOT A FAIR LIVE. |
| 00:03:06 | >> WHAT IS YOUR TAKE ON WHY FORD DID NOT HAVE TO GET MONEY FROM THE GOVERNMENT? |
| 00:03:12 | WHAT'S BECAUSE, -- >> BECAUSE WHEN YOU ARE ALREADY HAD OVER HEELS IN DEBT, YOU ARE NOT EXACTLY GOING TO RUSH OUT TO PUT YOURSELF IN MORE DEBT. |
| 00:03:29 | FORD HAD THE GOOD FORTUNE OF FAILING BEFORE GM AND CHRYSLER. |
| 00:03:38 | IT HAD BECOME SINCE OF LISTENING TO WHOEVER SAID THAT YOU HAD TO BRING IN NEW MANAGEMENT AND THEY BROUGHT IN THE NEW MANAGER AND THEY WOULD NOT LET HIM BE HIMSELF. |
| 00:03:58 | HE THREW OUT WHAT THEY DID NOT WANT TO THROW OUT. |
| 00:04:01 | HE CUT WHAT THEY DID NOT WANT TO CUT. |
| 00:04:05 | INDEED FOR EVERYTHING INTO NEW PRODUCTS. |
| 00:04:09 | THAT PRODUCT IS AN EXCELLENT PRODUCT. |
| 00:04:17 | SO, FORD COULD NOT BORROW MORE MONEY BECAUSE THEY WERE TOO HEAVILY IN DEBT. |
| 00:04:23 | THEY HAD FIXED THE PROBLEMS THAT GOT HIM INTO TROUBLE. |
| 00:04:28 | COULD THEY HAVE USED THE GOVERNMENT'S MONEY? |
| 00:04:32 | YES, BUT THEY WERE WISE ENOUGH TO SAY NO. |
| 00:04:40 | THEY GOT THE FAVORABLE BLACK, -- FAVORABLE BLACKLOWBACK. |
| 00:04:53 | THEY WERE INTERNAL LONG BEFORE GENERAL MOTORS. |
| 00:04:58 | THEY BORROW THEIR WAY INTO NEW PRODUCTS. |
| 00:05:02 | THEY COULD NOT BORROW MORE MONEY AND WERE SMART ENOUGH NOT TO TAKE A HANDOUT. |
| 00:05:09 | >> LOOKING BACK ON CHRYSLER, WHY DID FIVE OR FIRST BY THEM AND WHY DID THE FINANCIAL OPERATION TAKE IT OVER AND THEN WHY DID FIAT GET |
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