Fighting back but is it too late? Interview with GM's Rick Wagoner

This is a tough time to be Rick Wagoner. The embattled chairman and CEO of General Motors is facing a growing chorus of critics calling for his head. With his company losing $10.6 billion last year and Toyota on the verge of overtaking GM as the world’s No. 1 automaker, Wagoner has become the personification of Detroit’s declining fortunes. He’s struggling to engineer a turnaround by closing a dozen factories, offering buyouts to all 113,000 of his blue-collar workers and trying to jump-start sales with new SUVs at a time of high gas prices. Last week his job got even harder: first, GM revealed a widening probe by the SEC and a federal grand jury into its accounting practices. And then Delphi, the bankrupt car-parts maker once owned by GM, asked a judge on Friday to toss out its labor contracts. That could ultimately spark a strike that could drive GM into bankruptcy, analysts say.

Full interview here

JUGNU - 4/3/2006 7:22:26 AM

+1 Boost

Yes it's very very late now.

My suggestion for them is atleast atleast just improve the interiors of their new cars,maybe with poor quality meterials but atleast good looking ones.

but yes it's very late now.From here u can understand their dumb policy,as the fuel prices are on the cloud nine and they r introducing new gas guzzlers SUVs but not sporty,economical, good looking mid size and small size sedans.

Really no one can help them.I am really very very sad,but unable to do any favur to them.They r responsible for what they r today.

JUGNU - 4/3/2006 7:22:26 AM

+1 Boost

dblo7 - 4/3/2006 4:21:49 PM

+1 Boost

Unions definitely played a part and GM should have fixed that burden a long time ago.

SteveL - 4/10/2006 1:14:04 PM

+1 Boost

I agree with Terry. There is a lot of blame to go around. That’s what happens to some companies though. They get into a pattern that they "think" they can’t get out of and everybody is too afraid or just too lazy to say anything.
Jugnu. I do not agree with what you have to say. The new full size SUV sales are up 49%. That’s huge. They get better gas mileage than any other full size SUVs and even better than some mid size. Better than the Toyota Sequoia, Nissan Pathfinder & Armada etc. Have you seen the new interiors in the Chevy Tahoe’s? There sweet. Granted, they do not get a good as gas mileage as a car but for many people a car or mini van will not work. I would rather spend extra money for gas than be cramped in a car or have the boring aspects and bad performance of a minivan.
To late for GM. NO! I don’t think so. True, they have a heck of a long way to go, especially in some of the car areas. And just wait until they come out with there Hybrid full size SUVs and Trucks. I doubt no one else will have this for a while. That’s what I am waiting for. I think GM has there head pulled out about 3/4 of the way. Now if they pull it out the rest of they way which I think they will, they will be unstoppable, until the others catch them. I am not trying to paint a pretty picture for GM but I sincerely believe this.
Jbize1.
You can keep your Beemer. Good friend of mine bought a 2001 Beemer sedan. Nice car, certified used. Drove great. $4000 latter in costs that were not covered by warranty. They had to get rid of it, it was eating up there bottom line. Only the last two years has the BMWs brought up there quality. Before that you were taking a chance. Check the stats I could be off a little on the years but I am not lying. Between 1992 & 2004 there quality suffered.

Thanks for reading "my" opinion.