The chairman and chief executive of General Motors, Rick Wagoner, is resigning, just hours before President Obama was expected to unveil his rescue plans for G.M. and the ailing American auto industry. The unexpected move by Rick Wagoner, who has been at the helm of G.M. for eight years, was not confirmed by the company.
Mr. Wagoner was asked to step down as part of G.M.’s restructuring agreement with the Obama administration, according to an administration official who spoke on condition of anonymity because a formal announcement has not been made yet. He then agreed to resign.
The unexpected move by Mr. Wagoner, who has been at the helm of G.M. for eight years, was not confirmed by the company. A statement about Mr. Wagoner’s future will be issued after the president’s comments, which is expected to be Monday morning…
The president’s auto task force is expected to recommend more short-term assistance to the two Detroit companies, but with tight strings attached to the money and a new deadline to get concessions from union workers and creditors.
No word on who is waiting in the wings for the gig.
Now they are dealing with the people who are taking to much out of a company. It’s not the union slob who is bleeding the American car companies blind.
In GM’s headquarters the firing should occur from floor #4, up.
Did you see Lutz’s lame “reasoning” of why the Volt ended up looking like it did?
Lutz: “We went to the wind tunnel over and over to ‘fix’ the design.”
Actually, they went to cram the design on an existing chassis.
Let’s hope his pants on fire don’t burn the industry down.
#38, it’s no coincidence that the production Volt looks closer in shape to the Prius than did the prototype. The new Honda hybrid is also very similar looking.
#38, Buzz,
Look at the silhouette of most mass produced cars and you will be hard pressed to tell them apart.
#28, Alphie,
Do you really want your bank, or hospital, run like the DMV?
Sure, why not. Our DMV, actually it’s the BMV, but, is well run. The staff are very courteous. They know their jobs and if the counter person can’t answer, the Manager will.
#40 – Mr. Fusion – Look at the silhouette of most mass produced cars and you will be hard pressed to tell them apart.
Agreed. Now, let these cars experience 4-5 winters and we’ll know which ones are from American manufacturers. 😉
#41 – Mr. Fusion – Sure, why not.
And they might even make a profit. 😉