Remember the nursery rhyme about the old lady who swallows a fly? She swallows a spider to catch the fly, a bird to catch the spider, a cat to catch the bird, and so on, until she finally swallows a horse and dies.
I was reminded of that story after General Motors’ announcement last fall that it will cut 15 percent of its salaried workforce and idle assembly plants in Michigan, Ohio, Maryland and Canada. The decision will result in the loss of 14,000 jobs.