Richard Wagoner
Richard Wagoner
George Richard "Rick" Wagoner, Jr.is an American businessman and former Chairman and Chief Executive Officer of General Motors. Wagoner resigned as Chairman and CEO at General Motors on March 29, 2009, at the request of the White House. The latter part of Wagoner's tenure as CEO of General Motors found him under heavy criticism as the market valuation of GM went down by more than 90% and the company lost more than $82 billion USD. This led to his being...
action benefits companies conceived continue costs decades explosive face foreseen global healthcare high increasing inflation number recent rise rising similar simply taken
A number of other U.S. companies have already taken similar action in the face of these rising costs and increasing global competition. In particular, U.S. healthcare costs continue to rise at high rates. When these benefits were conceived decades ago, no one could have foreseen the explosive cost inflation that we have been experiencing in recent years. These costs are simply not sustainable.
access actions auto credit designed earnings gm grow intended potential preserve rating renew restore sustaining
These potential actions are intended to restore GMAC's investment-grade credit rating and to renew its access to low-cost funding, ... In addition, these actions are designed to preserve and to grow the synergies between GM and GMAC, especially cost-effective auto financing, and sustaining GMAC's diversified earnings growth.
advisor broad career friend gm mike others range thank tremendous wish
During his 36-year career at GM, Mike has made a tremendous contribution to GM in a broad range of assignments, ... And, he's been a long-time advisor and friend to me and many others in the company. We thank him and wish him well.
continued cost financial focus lead reduction results strong success
The results show that our focus on cost reduction and success in the marketplace lead to continued strong financial results,
alliance developed further global hard including product products profitable strengthen teams ways worked
Our teams worked hard to find profitable ways to further strengthen the Oldsmobile product line, including consideration of products developed with our global alliance partners,
days looking next point sales
At this point we don't see big concerns, ... We're looking for some big sales over the next 30 days or so.
reach taken time
While it may have taken some time to reach this solution, I think it was time very well spent,
company jack spread stay support work
There is a lot of work to do in this company and it makes sense to spread it out, ... We very much wanted Jack to stay around and support us.
changes clearly encouraged scale speed work
While we are encouraged by the speed and scale of the changes we're implementing, there is clearly more work to be done.
brutally hot market north red
The North American market is red hot and brutally competitive,
across hopefully level lower production reach state steady swallow
What we're all going to have to do is ratchet back production capacity, and that's painful, ... Once you swallow that, then you hopefully reach a steady state and lower level of production across the board.
brand carry plays premium saturn segment shown
Over the years we've shown the Saturn brand can carry a premium in the segment that it plays in,
approval aspects continue fulfill implement north objectives rapidly turnaround
This approval allows us to fulfill those important objectives as we continue to rapidly implement all aspects of our North American turnaround plan.
decision difficult greatest necessary
This is a difficult but necessary decision and it was made only after the greatest deliberation.