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
addition addressing biggest burden challenges close due equitable fair gary government high ideal lack legacy ongoing requires union united united-states work
One of our biggest challenges is our lack of cost-competitiveness in the United States, which is due to our legacy costs, especially the ever-increasing burden of high health-care expenses, ... Addressing this challenge in a fair and equitable way requires close work with our union partners, in addition to our ongoing work with government and health-care providers. Gary is the ideal person to do this.
exactly people piece run sacrifice trying versus work
Everybody's got a piece of it. What we're trying to do is look at each piece and say, 'Where are we really uncompetitive versus the people we run against?'... If we're out of line, that's what we need to work on. So, it may not be exactly the same sacrifice everywhere, but I think just about everybody's got a piece of it.
change diligently disclose errors fact fix mistakes work
The fact is that errors were made, and we can't change that. What we have done is disclose our mistakes and work as diligently as we can to fix them.
again among days decide decided expect forms interest next others ready step terms time various work
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.
above america attention business direction except extreme gm moving north progress work
All of our business units except GM North America are on or above track, and that has the extreme attention of us all. Progress is moving in the right direction ... but we still have more work to do.
brands car decent job models number products reduced segment showing side strategy work
If you look from 1992 to 1997, we've really reduced the number of car models from more than 100 to about 81. Our strategy is to have the right number of products. Segment the brands better. There's a lot of work being done on the distribution side of the business. And the data's showing that our new products are doing a very decent job in the market.
banks burden far greater jobs legacy list near nowhere priority rates top using wage work
If I look at our priority list on the things we need to do to get cost-competitive, wage rates are nowhere near the top for us. We have a far greater burden in legacy costs, in flexibility of using our work force, in jobs banks than we do in wage rates.
days fat good improving meet mind ounce pricing regular shooting targets trying work year
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.
engagement good improving level local people quality situation success team understand unions worked
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.
cut pay percent taken
I've taken a significant pay cut this year, ... I think I'll have a 50 percent pay cut.
bold designed further gm improve position step success transition
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.
competition continues demand efforts eliminate industry intensely lower mixed pressures price reinforce results step strong territory venture waste
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.
reach taken time
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.
area asia fastest growing markets ups
These markets are going to grow. They're going to have their ups and downs, just like the American market. But Asia will be the fastest growing area of the world.