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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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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We had a good hand and I think we overplayed it, ... We're not alone in that, by the way, and others are still playing that hand as they surpass us now in incentive programs.
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There are some things that I like, like education, wine, and I'd like to be a good cook, although I'm a pretty good eater now.
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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.
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If you look at our production schedule, we think we ought to be able to grow our sales. We feel good about our product, but there's no reason to put a target out there when nobody else does, and we get beat up on it.
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In order to improve financial results in 2006 and 2007, we are moving quickly to implement several important actions that will address these weaknesses in North America. And we have a good line of sight on the steps we need to take to further reduce structural costs on a global basis that will position GM for long-term success.
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In '02 we had another good year in improving productivity in salaried work force. What we're trying to do is make this a regular mind set around here, ... You can't have an ounce of fat these days and meet the pricing and the investments and the profitability targets we're shooting for.
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Oklahoma City, (which makes the mid-sized SUV) is a very good plant but a classic example of ... just having too much capacity in that segment, ... That's why that plant in on the list today. We don't have any plants left that aren't very high quality and quite productive. I'm sure I'm not going to satisfy any plant as why they've been chosen to be on the list.
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As we look at the responsibilities we have to a broad range of constituents, as we look at what we need to do to make the business successful, as we look at our businesses around the world, we think there are significant costs to bankruptcy. We don't think it's a good option.
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A lot of times, people will get down on the situation with the unions and with the UAW. But this wouldn't have worked without good engagement at the local level with the UAW. They understand that improving quality and productivity is important for their long-term success as well. It's been a real team sport.
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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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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 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.