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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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 going to take some time here, think in terms of 30 to 60 days, to step back and decide the next step in this journey, ... There's interest among others for various forms of transactions. So we'll have options. We just haven't decided yet what makes the most sense for GM. In 30 to 60 days we'll be ready to try again with something that we expect will work this time.
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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.
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Any time GM and UAW has something going on, we're all curious about how that may affect us,
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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.
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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.
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We know a lot about Daewoo. We think we understand what the value of Daewoo is to us. Our view on that will not be changed by or influenced by other people being interested in it. If somebody else comes and pays a whopper amount for it, more power to them.
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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.