Quotation for the day: Alfred P. Sloan, Jr.

On the day of "the new GM's" IPO, here is another General Government Motors related quotation, rich with irony:

"There have been and always will be many opportunities to fail in the automobile industry.  The circumstances of the ever-changing market and ever-changing product are capable of breaking any business organization if that organization is unprepared for change--indeed, in my opinion, if it had not provided procedures for anticipating change."

Former GM chairman Alfred P. Sloan, Jr., in retirement in 1964; quoted in Robert Sobel, Car Wars: The Untold Story (New York: E. P. Dutton, 1984) 302.