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
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This transaction will allow us to preserve our business relationship, while further building up GM's already significant liquidity position during this critical phase of our turnaround.
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We are viewing the U.S. economic and auto market environment with considerable caution, ... That, combined with our poor business results in the first three quarters this year, really highlight that we are at a critical juncture in our company's history. And so we are accelerating the pace and scope of our turnaround actions.
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Our relationship is strong, and we look forward to our continued partnership. This transaction will allow us to preserve our business relationship, while further building up GM's already significant liquidity position during this critical phase of our turnaround.
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With the ongoing globalization of GM's product development organization, and the implementation of our global architecture strategy, Bob felt he needed to devote his efforts to product development full time, and I agreed, ... Bob's legacy at GM will be in our future cars and trucks. It makes sense for him to devote his full energies to that critical task.
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This 'hand-in-glove' working relationship between GM Auto and GMAC provides ample benefits to our dealers and our stockholders, and is critical to our ability to compete in the marketplace,
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Health costs in this country are out of control, ... This will significantly improve our overall cost competitiveness ... and will be critical to getting GM North America back to profitability as soon as possible.
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We don't always agree on stuff, but when it's time to blow the whistle and start the game, we're not still debating.
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We're not interested in a bailout, but we would like a chance to play on a level playing field.
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We believe in fair exchange rates and Japan doesn't practice that. They have massive U.S. dollar reserves, and they use them to intervene regularly.
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We believe in fair exchange rates and Japan doesn't practice that, ... They have massive U.S. dollar reserves, and they use them to intervene regularly.
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What I've seen around the world is if the regulatory desires are combined with things that affect consumer behavior - such as in Europe, they tax gasoline very heavily - you do get people to move to very fuel efficient cars; trade off bigger vs. smaller cars.
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The good news is, we know what we need to do to be successful in the business. What we need to do is get products that people are excited about and price them the right way, supported by the right kind of cost structure, and I think in that sense it's moving pretty good.
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While vehicle deliveries were somewhat resilient last week, it is too soon to determine the effect on consumer confidence, ... We will closely monitor the economic outlook and will be prepared to make appropriate production adjustments.
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While this sounds like a large number, we recognize that it only goes part of the way we need to go to put GM North America in the fully competitive position that is necessary to maintain and enhance our future viability and growth.