Remorseful General Motors paid for a full-page ad in Automotive News to tell America: "We have disappointed you." The ailing automaker admitted to manufacturing substandard and "lackluster" products, pushing SUVs on consumers, and committing to "unsustainable" union pay, reports the Washington Post. Before the ink could dry on Congress' draft aid package, GM laid out how it will use $18 billion to turn itself around.
Some embraced the rare public apology by a corporation, while others scoffed. "I find it bizarre," said an industry analyst. "Why are you spending money on this?" On the other hand, not apologizing hasn't worked well for bailed-out firms in the financial sector. "That has totally alienated people," said a marketing analyst. "People are mad as hell at the financial crowd."