Rick Wagoner
Rick 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...
NationalityAmerican
ProfessionBusinessman
Date of Birth9 February 1953
CountryUnited States of America
will reduce the impact of plan changes on affected individuals.
We haven't asked for a bailout but we have asked for a lot of things and the reaction in Washington has been very slow.
We haven't dropped the goal, ... It's obviously tougher right now as we have pension and health-care costs right now, for example.
Our financial performance continues to be quite disappointing,
Our fate is going to be determined in the next three to five years on getting this business in the U.S. turned around and profitable,
Overall economic growth in Europe hasn't been robust and the car market hasn't been robust,
We disagree with Delphi?s approach, but we anticipated that this step might be taken. GM expects Delphi to honor its public commitments to avoid any disruption to GM operations.
We are confronting a dramatic change in our industry and in the global competitive environment, and that requires us to look for additional ways to reduce financial risk and improve our competitiveness for the long term.
Today we are announcing a significant update on our plan to address our health-care burden, which is the cornerstone of our efforts to reduce structural costs by a $5 billion (US) run rate by the end next year.
We believe by being sensitive to the balancing act these women face each day, we're increasing their commitment to General Motors. It's not only the right thing to do, it's also good business for GM and helps us retain the brightest, most capable workers.
The decisions we are announcing today were very difficult to reach because of their impact on our employees and the communities where we live and work. But these actions are necessary for G.M. to get its costs in line with our major global competitors.
These bold initiatives are designed to immediately improve our competitiveness and position GM for long-term success and today's transition is a further step in that direction.
These results reinforce the need to step up our efforts to eliminate waste and lower costs, ... The industry continues to venture into new territory -- near-record demand mixed with unprecedented price pressures and intensely strong competition on all fronts.
These negotiations were done in a positive, cooperative, problem-solving spirit, ... While it may have taken some time to reach this cooperative solution, I think it was time well-spent.