The Visionary Accountant
Roger B. Smith took the helm of General Motors in 1981 with a grand vision: to drag the aging industrial giant into the 21st century. Unlike his predecessors, Smith was a finance man, obsessed with the bottom line and efficiency. He believed that technology, not tradition, would save GM from the rising tide of Japanese imports.
The Robot Revolution
Smith spent nearly $90 billion on revitalizationâan amount so large he could have arguably bought Toyota and Nissan instead. He invested heavily in automation, filling factories with state-of-the-art robots. However, the transition was disastrous. Stories emerged of robots painting each other instead of the cars or smashing windshields. While Smith aimed for high-tech efficiency, the quality of the actual cars suffered, leading to an era of "cookie-cutter" vehicles where Buicks, Oldsmobiles, and Pontiacs looked virtually identical.
Saturn and Diversification
His most ambitious project was Saturn, a brand-new car company started from scratch to beat Honda and Toyota at their own game. While Saturn garnered a loyal following, it drained resources from GM's core brands. Smith also diversified wildly, buying Electronic Data Systems (EDS) from Ross Perot and Hughes Aircraft. These moves transformed GM into a conglomerate but distracted it from building great cars.
A Contested Legacy
Smith is perhaps best known to the general public as the elusive subject of Michael Moore's documentary Roger & Me, which criticized him for closing profitable plants in Flint, Michigan. By the time he retired in 1990, GM's market share had plummeted from 46% to 35%, leaving a legacy of brilliant ideas executed with costly clumsiness.