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DealBook NYT: Another View: Forget Ideology. Let’s Fix the Economy, by Albert A. Koch, Senior Alix Partners, Dec. 18, 2009

Albert A. Koch of Alix Partners, which helped to restructure GM and now runds "old GM" points out that pragmatism (and not ideology) is needed in such extreme restructuring situation:

"Government involvement — or if you prefer, “meddling” — often stirs up philosophical debate. But from where I sit, as one of the guys who helped G.M. live to fight another day, it is clear that pragmatism is still very much the order of the day.

In the interest of full disclosure, I don’t like the government getting involved in the private business sector. But in this case, the government saved the domestic, and possibly the worldwide, auto industry. And that’s not hyperbole."

He points out three important prerequisites to become successful in such heavy restructuring cases:

Point one: You need good players to win

Point two: Be realistic

Point three: Fix the process; then guide the change

Nevertheless, to avoid problems in the long-term, experts as economists advise the government to get out again as soon as possible. This should be done when the restructuring people have stabilized the situation and a new strong management (if available..) has started to implement a forward looking strategy.