Wow this train was steaming down the track, but it's arrival still stuns even the most prepared. 101 years of manufacturing and millions of vehicles worldwide is the legacy of GM. What now from a manufacture that is but a shadow of its former self.
Here is a letter from the CEO of GM. What will come of the new GM? After the dust has cleared, will America again place faith in a company that for the most part has failed them?
Below the letter is images of vehicles GM will offer between 12-16 months.
By Fritz Henderson
President and CEO
Today marks a defining moment in the history of General Motors. Our new fast-track plan to form a leaner, quicker, more customer-focused, more cost-competitive company has the support of the U.S. government. It also incorporates the terms of our recent agreements with the Canadian government, the UAW and CAW unions, and a substantial portion of GM’s unsecured bondholders.
This New GM will be built from the strongest parts of our business - including our best brands and products. It will have a dramatically stronger balance sheet, with far less debt, which will allow us to better invest in our business and our future. It will have fully competitive labor costs and the ability to generate sustained and positive bottom-line performance.
We’re committed to open communications and I am personally putting a high priority on transparency. One way we’ll do this is by launching a series of live web chats on this website. I’ll kick things off later this week for one hour on Thursday, June 4 at 3 p.m. EDT. Following me, a steady stream of GM leaders from throughout the company will host additional chats, about two a week, on whatever topics are of most concern to you.
Today marks the beginning of what will be a New GM dedicated to building on only the very best of our recent progress in fuel efficiency, world-class quality, green technology development and outstanding design. Above all, the New GM will be rededicated to our customers. We don’t do that by working in a bubble. We do it by engaging with you, our customers and critics, our partners and champions, who are interested in our progress. I hope you’ll join us as we begin a new and better era for General Motors.