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The Natives Are Restless: But Should The CEO of GM Job Be On The Block At This Time? A debate over whether embattled General Motors Corp. CEO Rick Wagoner should be removed heated up again on Monday even as Congress proposed a short-term industry bailout designed to keep the automaker from collapsing by year-end.There have been several missteps on Wagoner's watch, but there are ample reasons he should stay at GM, analysts say.Wagoner, 55, has amassed a long list of hits and misses since being named CEO in 2000. On the plus side, he has slashed $9 billion in costs, overseen a push into... Article added: 2008-12-10 06:17:47 Article Views Rating: 106
Bob Lutz Offers To Sacrifice Himself To Keep Wagoner In Charge Of GM These are somber, serious economic times — but it’s still hard to hang up from a 10-minute phone chat with Bob Lutz without chuckling.“If Congress wants a sacrifice, it should be me,” Lutz declared this afternoon, as he defended his boss, General Motors Corp. CEO Rick Wagoner.“I’m older,” Lutz said. “And I’ve made politically incorrect remarks about global warming, so it should be me.”[source] Article added: 2008-12-10 06:17:45 Article Views Rating: 104
GM to offer lower loan rates | The Detroit News | detnews.com In a bid to help spur auto sales, General Motors Corp. is expected to announce a partnership today with Midwest credit unions that will offer lower loan rates and bonus cash to some car buyers. Through a partnership with the Michigan Credit Union League, dubbed "Invest in America," new or current members of 1,200 credit unions in Michigan and three other states will get access to lower loan rates and a discount of about 4.5 percent off manufacturer's suggested retail price, according to a posting on the... Article added: 2008-12-10 06:17:39 Article Views Rating: 129
GM to offer credit union customers better loan rates | The Detroit News | detnews.com General Motors Corp., coping with a credit crunch that has sent industrywide sales plummeting to the lowest level in 26 years, is expected to announce a partnership tomorrow with Midwest credit unions that will make it easier for consumers to buy cars. Through a partnership with Michigan Credit Union League, dubbed "Invest in America," offers new or current members of 1,200 credit unions access to lower loan rates and about 4.5 percent off manufacturer's suggested retail price, according to a posting on... Article added: 2008-12-10 06:17:39 Article Views Rating: 106
GM ADMITS They've Betrayed AND Disappointed Us- Now That We've Done That, Please Give Us Your 14 Billion. Here is the crux of the open letter in GM's ad today in numerous publications..."While we're still the U.S. sales leader, we acknowledge we have disappointed you," the ad says. "At times we violated your trust by letting our quality fall below industry standards and our designs become lackluster. We have proliferated our brands and dealer network to the point where we lost adequate focus on our core U.S. market.We have proliferated our brands and dealer network to the point where we... Article added: 2008-12-09 06:02:17 Article Views Rating: 126
UAW local says union wants GM board seat | The Detroit News | detnews.com The United Auto Workers wants a seat on General Motors Corp.'s Board of Directors in exchange for helping secure federal aid by suspending the controversial jobs bank and delaying payments into a union-run health-care trust, according to a posting on a North Carolina local's Web site. The union would seek an equity stake in GM, "most likely in the form of a seat on the board of directors" in exchange for making the concessions, according to a posting by Marc McQuillen, president of UAW Local 2404 in... Article added: 2008-12-09 06:02:12 Article Views Rating: 105
GM faces costly route to scrap Hummer | The Detroit News | detnews.com WASHINGTON -- The Frank Kent Hummer dealership -- complete with an indoor waterfall and a massive curved roof reminiscent of an aircraft hanger -- opened in Fort Worth in spring 2005 with hopes as high as the giant "H" that dominates its entrance. Three years later, General Motors wants to get rid of its lagging Hummer brand. But what's good for GM in this case may not be good for its 400 Hummer dealers, who have invested millions of dollars with the expectation of selling a line of new products for... Article added: 2008-12-08 06:19:57 Article Views Rating: 114
Dodd: GM's Wagoner should go | The Detroit News | detnews.com WASHINGTON -- A key lawmaker on Sunday said General Motors Corp. Chairman and CEO Rick Wagoner should have to step down in exchange for any long-term federal aid. Sen. Chris Dodd, D-Conn., said he is hopeful that Congress will pass a short-term $15 billion aid package for Detroit's Big Three automakers in the next few days to prevent an immediate collapse. But any longer-term financial help would require the companies to make significant restructuring moves, and that should include Wagoner's removal... Article added: 2008-12-08 06:19:56 Article Views Rating: 105
GM faces costly route to scrap Hummer | The Detroit News | detnews.com WASHINGTON -- The Frank Kent Hummer dealership -- complete with an indoor waterfall and a massive curved roof reminiscent of an aircraft hanger -- opened in Fort Worth in spring 2005 with hopes as high as the giant "H" that dominates its entrance. Three years later, General Motors wants to get rid of its lagging Hummer brand. But what's good for GM in this case may not be good for its 400 Hummer dealers, who have invested millions of dollars with the expectation of selling a line of new products for... Article added: 2008-12-08 06:19:22 Article Views Rating: 106
Dodd: GM's Wagoner should go | The Detroit News | detnews.com WASHINGTON -- A key lawmaker on Sunday said General Motors Corp. Chairman and CEO Rick Wagoner should have to step down in exchange for any long-term federal aid. Sen. Chris Dodd, D-Conn., said he is hopeful that Congress will pass a short-term $15 billion aid package for Detroit's Big Three automakers in the next few days to prevent an immediate collapse. But any longer-term financial help would require the companies to make significant restructuring moves, and that should include Wagoner's removal... Article added: 2008-12-08 06:19:21 Article Views Rating: 88 |
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