GM's Wagoner Expects Improved Results After 2nd QTR

General Motors Corp. Chief Executive Officer Rick Wagoner expects the world's biggest carmaker to improve results after a loss in the second quarter tied to severance packages in the U.S. for 35,000 workers.

``We need to look behind that and look at the underlying business,'' Wagoner told journalists today at the U.K. Motor Show in London. ``We hope to continue to drive for significantly improved results.''

Wagoner is under pressure to consider an alliance with Renault SA and Nissan Motor Co. after GM had a $10.6 billion loss last year and the carmaker's U.S. market share dwindled to an 80- year low. The second quarter will include an after-tax charge of $3.84 billion for the job cuts, Wagoner said.

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MercBasher - 7/18/2006 4:24:49 PM

+1 Boost

This is a really stupid concept from a really stupid Oaf [Wagoner].
If you have bad enough results in a quarter, and if have massive on-time charges isn't it easy to do better in the next quarter - or am I missing something?