CONGRATULATIONS to the Board of Directors at GM. You have made the right decision in terminating Fritz Henderson, a GM lifer, as CEO, and looking for an outsider to replace him. Specialized experience is greatly over-rated. Maybe there is some hope for corporate governance yet. Now if only the Boards at all major financial institutions and many other major U.S. corporations follow your important lead, the U.S. economy may once again lead the way.

PS: GM has got to figure out how to design and manufacture small cars and, at a minimum, break even. This is the Achilles heel of the company.