GM crippled themselves with terribly designed automobiles that no one wanted to purchase.
Power and information asymmetry are the rule when you are negotiating with your boss independently. He knows what the other employees at your company make. You do not.
That's a funny statement, given that GM, even in their crippled state, is the 1st or 2nd largest seller of autos in the world (Toyota and GM have traded places a few times this year, I think?). For terribly designed autos that nobody wanted to purchase, SALES obviously wasn't a big problem for them.
Power and information asymmetry are the rule when you are negotiating with your boss independently. He knows what the other employees at your company make. You do not.