GM's main problems are
1) A terrible, bloated cost structure
2) A terrible, bloated bureaucracy
3) A bunch of meh car lines.
Hire an MBA to be a journalist and this is what you get. There's no excuse for the poor writing, however; she does have an English degree. All her posts come down to the same libertarian fantasy world nonsense: Eliminate government, let business do whatever they want, and the world will be a Utopian fantasyland.
I wonder if McArdle's usefulness is almost at an end. It will be fun to watch her be wrong in public about Alt-A mortgages, but otherwise she will be just another little voice bleating in the wilderness, defending the indefensible long after everyone else has given up in shame.
More on the Alt-A situation later; a retrospective of McArdle wisdom on ARMs is next.