GM Ad: We Disappointed and Betrayed America

Everyone knows by now that the American car manufacturers are desperately seeking billions of dollars in federal funds to protect them from bankruptcy. Chrysler and GM have said they may not make it until the end of the year if something isn't done to save them now.

Initially, the CEO's of the auto industry came to Washington in separate private jets and with a swagger. Apparently they thought Congress would never reject their pleas for money. After getting a cold shoulder, they returned to Washington last week a little more humble. They improved their public relations by taking hybrid vehicles from Detroit to DC and offered more candid assessments of their mistakes.

Still, few feel bad for the American auto makers after years of manufacturing cars that failed to conserve fuel or meet the needs of buyers. It seems the "Big 3" are trying to get into our good graces with some humility and apologies, starting with an advertisement from General Motors.

General Motors is running an ad in trade journal Automotive News that attempts to apologize to the American people. In the ad, GM says...

"While we're still the U.S. sales leader, we acknowledge we have disappointed you. At times we violated your trust by letting our quality fall below industry standards and our designs became lackluster. We have proliferated our brands and dealer network to the point where we lost adequate focus on the core U.S. market. We also biased our product mis toward pick-ups and SUVs. Despite moving quickly to reduce our planned spending by over $20 billion, GM finds itself precariously and frighteningly close to running out of cash."

Of course it's impossible to know how much this new publicity move will create sympathy among either the American people or Congress. Many are still looking for solid plans and evidence that GM is interested in taking real action toward becoming an auto manufacturer that sells cars people want. As evidence that GM will have to do more than buy ads, Senator Chris Dodd, Senate Banking Committee Chairman, said Sunday that GM's CEO Rick Wagoner should be the first casualty of a GM restructuring deal.

To read more about GM's ad, click HERE.