There's a change at the top for General Motors as the U.S. government (and the Board) flexes its muscles and dictates company policy. As we have said on many occasions, assistance from the U.S. government comes with a high price and lack of independence is at the top of the list. So Fritz is out.

As General Motors staggers forward, expect more changes (and challenges) as the US automaking industry comes to terms with the new reality of today's economy. Less demand means lower production levels and requires a new and fresh perspective. It is not evident yet what path GM will take to be competitive and relevant. The truth is that GM leadership is doing their best to save a wounded organization burdened by years of bad decisions. And despite the government's intervention, GM is still gasping for air.