Is Detroit losing its top talent?
Along
with the steady stream of bad news coming from Motown has also come a tide of talent, with some employees evidently
seeking employment elsewhere in the business, or looking outside the industry altogether. The growth of
"transplant" OEMs such as Toyota and Hyundai in the US are providing opportunities beyond the former Big
Three, and the recovery in other segments of the economy means that execs can find less pain in those industries that
have already endured their own downsizing cycles. Then there's also the draw of suppliers, many of whom can
provide substantially higher compensation.
Ex-GM CFO Mary Boland sums things up just about perfectly: "Southeast Michigan is a pretty depressing place to be right now."
[Source: BusinessWeek via Yahoo Finance]
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Reader Comments (Page 1 of 1)
Michael Karesh 9:12AM (4/12/2006)
These companies have talent to spare. What they need to do is make better use of the talent they have. Which of course would also help them retain talent.
I covered this in a report I submitted to GM. Executive summary here: http://www.truedelta.com/execsum.php
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cowboy bob 9:43AM (4/12/2006)
If they think Eastern Michigan is tough, they should look at upstate New York. With tax-n-go to NYC, jobs going south or just going, depressed property values, and disintegrating infestructure, finding a good job around Rochester NY is like finding Osama BinLaden. In fact, if I could find a buyer for my house, I'd already be gone too.
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Mal Fuller 10:37AM (4/12/2006)
"Southeast Michigan is a pretty depressing place to be right now."
Right now? The area would have lost 85% of its population years ago if you could buy bus tickets with food stamps!
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Edsel 11:02AM (4/12/2006)
All of New England too is suffering from too much government & too little business. The largest single employers for most cities & towns in New England are state & local governments. If one embraces a socialist mindset this is good news but if your looking for a good paying private sector job you're going to have to find that job elsewhere.
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Marcello Mastroianni 11:45AM (4/12/2006)
One small ray of hope that wasn't mentioned: Toyota, Nissan and Hyundai are all setting up design and engineering shops in the Detroit area. That might not be good news for "the Big 3", but it's plenty good news for Southeast Michigan.
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Raj 11:56AM (4/12/2006)
"Southeast Michigan is a pretty depressing place to be right now."
That's too drastic a statement. I am in the area working on 8 months project for new Hyundai Tech Cen. And I love my job. The atmosphere is upbeat. We deal with some auto suppliers i.e. Visteon, Yazaki etc. etc. and they are also showing more energy and enthusiasm. I do not know anything about atmosphere at Ford and GM HQs.
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ghughes 12:16PM (4/12/2006)
The asian car cos that some of you douchebags love have caused a lot of american industry to disappear - guess what? we aint ever getting back the jobs nor the money- NEVER - foreign manufacturing companies do not lose business, their governments make sure of it. "CUe the anti-american comments" - from people who probably work for the transplants in some way=-
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Takeo 12:36PM (4/12/2006)
Haha I love the picture of an ejection seat with this story, cause if I worked in any of the big 3 auto manufacturers, I'd be looking to "Eject Eject Eject" too!
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guyincognito 12:53PM (4/12/2006)
Since I moved to Michigan 5 years ago, ~95% of the people I met have quit their jobs and moved to another state. Most of them were young professionals working at the big 3.
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Raj 1:28PM (4/12/2006)
"The asian car cos that some of you douchebags love have caused a lot of american industry to disappear ..."
Oh so "these asian car cos" are VERY VERY powerful. They can FORCE GM and FORD to PRODUCE bad, ugly, boring, unreliable vehicles. I never knew "American industry" was such a pussy that asians can make them "disappear". Those scary asian cos are to blame for all the problems GM and FORD are facing today. Its them, its not those moronic overpaid CEOs, COOs, product engineers, designers who work at Ford and GM.
True Americans never work at those all powerful "asian cos" plants in TX, TN, CA, NC, MS etc.
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Billy C. 4:21PM (4/12/2006)
#7 is absolutely right and life is not fair. Waah,waah!
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alex 10:35AM (4/16/2006)
I have a difficult time understanding the logic of hiring a former GM executive. GM leadership has done nothing to counteract their long slow and steady demise.
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