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I dont know what they teach at ivy league bussiness schools but its not common sense

I'm guessing it's because people have come to associate the name Rick Wagoner with "a car guy" because his name always gets bundled with Bob Lutz's. So he is not viewed as a management figure to be held account for the company's performance.

He really did blow it though. All the motorheads have been demanding GM to bring their european/oversea models over to the U.S. for years. But GM didn't do it even when the exchange rate was extremely favorable for the U.S.

The fact that the U.S. is bringing over the european/oversea models at the currently horrendous exchange rate should tell you how desperate they have become.

To GM's credit, their product lines have become improved vastly compared to just a few years ago. It's too bad that they don't have any viable small cars or in their pipelines, which means they'll just have to bring over more Vauxhall / Opel models, and retool their plants to produce them here locally.

I predict the CEO who is running GM when it actually does go bankrupt will get a huge bonus. Bankruptcy will allow GM to divorce themselves of their pension obligations, the tax-payers picking up the tab.

sonnype said...
I dont know what they teach at ivy league bussiness schools but its not common sense


Sonny you need to learn how to spell the word "Business!"

GM will have only Chevrolet and Cadillac and GMC trucks.

Ford will be purchased in a fire sale by either a Korean or Chinese company unfortunately!

I wouldn't worry about any of these ceo's of American corp'. They make sure they take care of their own fortunes. I wonder if Mr. Wagoner is thinking about all Americans who put their life savings into G.M. stocks and are now wiped out. I guess his last years salary, $14,415,914, plus his golden parachute wont put him on the bread lines. He will have the honor of being listed with all the other corporate losers when they print the history of 2000-2008 American failures. Our Grandchildren will be paying for all these mistakes. Stay tuned. Im sure each day next week another failure will come along.

Having worked in the GM Corp. in the 60's and 70's
I can tell it like it is! All the real car men left..while the corporate policies became run by the US Govt.

CAFE RULES-FUEL ECONOMY STANDARDS, projecting out five years started in 1974.
Sales numbers suffered each year since?
We are now repeating this charade.

HIRING AND PROMOTING FAVORED THE MINORITIES... resulted in not retaining the qualified,but adding staff without a clue!
Could Waggoneer be one of those?

FAILURE TO RESTRAIN THE IMPORTATION OF FOREIGN PRODUCT at cheaper pricing caused domestic manufacturers to cut costs and sacrifice quality for over 20 years. An intelligent consumer remembers the junk they purchased in those years.

Our Congress failure to act to control health care costs in the US would certainly have a negative effect on self controlled health benefit COSTS to one of the largest US companies.

The Hummer purchase was simply a ploy by Govt.to award a major military contract to provide unsafe equipment to our troops. Bush,Cheney, & Rumsfeld may buy Hummer at the bankruptcy
auction. Possible?

$14.5 million a year paid to a "yesman" is certainly a huge part of the problem not the cure!

My father spent 33 years with GM, he passed away 14 yrs. ago -- my 80 yr. old mother said this week she received a letter from GM that as of Jan 1, 2009, she would no longer have Medical, Eye or Dental insurance, but they would increase her pension by a possible $300.00. So what is she to do at 80 yrs. old for insurance? Not to worry if GM is able to pay out " $14.5 million a year paid to a "yesman" is certainly a huge part of the problem not the cure!" then I suppose mom atleast knows where dad's "blood, sweat and tears" retirement money is going...along with all other retirees and their families over 65...so sad.
Thought someone needed to know about this!

There is only one word for the GM management team and that is ARROGANCE.
They just don't get it.

I agree! While their "employee website" still encourages employees to purchase a vehicle with teh "discount" they will cancel ALL Medical benefits for anyone 65 and over and their dependants in Jan. 2009...do they think we are morons?

Apnatic said: "as of Jan 1, 2009, she would no longer have Medical, Eye or Dental insurance, but they would increase her pension by a possible $300.00. So what is she to do at 80 yrs. old for insurance?"

There's the problem right there: Unrealistic expectations of retirees from the fairy godmother, GM. That and CEO pay have destroyed this company.

I think Wagoner, since he's already a wealthy guy, collecting GM money for [9] years, to show his loyalty & dedication to his peers, should take a $1 per year salary until such time as GM NORTH AMERICA, truly becomes a profitable entity , once again???YEAH,I KNOWthat will never happen??? LEE IACOCCA, WHERE ARE YOU??Ego & pride get in the way, but a move like that would send a great message to all workers & investors in this corp. MANY OF WHOM, HAVE SUFFERRED MUCH, watching the demise of this once great ICON OF AMERICAN INDUSTRY, BEING REDUCED TO A PILE OF RUBBLE!!!

To those who think that GM should not pay for the benefits for survivors after 2009--Those benefits were bought and paid for by the workers who spent all those years at GM. They were a part of the pay which those workers who slaved to make GM the icon of industry in those days were working for and was promised to the employees who were loyal and workied hard. They were also part of the so-called wages being paid to employees and written off taxes by GM as a part of doing business while the CEO's and executives robbed the company blind with their outrageous salaries. Wagoner is not the only one that GM overpaid. Check Roger Smith's salary and benefits --his retirement was upped from approximately 550,000 per year to over one million three hundred thousand only two months before he retired and this was after a ten year tenure when GM showed no profits . Looks as if the board rewards those who fail rather than those who are successful.

For us, a loyal GM customer since the 1970's, the decision to never again buy a GM vehicle had nothing to do with price, quality or MPG ratings.

Trying to get a GM vehicle repaired under the terms of their new car warranty has always been a nightmarish exercise in futility for us. Our opinion, arrived at after years of frustration with warranty issues, is that GM and it's dealers couldn't care less about their customers.

I go into more detail about my decision to never again buy a GM vehicle, at my blog...
http://routingbyrumor.wordpress.com/2008/08/04/driving-south-at-general-motors/
where I rant about GM on a regular basis.

I feel terrible for the current and former GM employees and their families, who are suffering because of GM's declining fortunes. I don't know if Rick Wagoner's tenure as GM's CEO is about to end, and I don't really care. I've always "bought American" whenever possible, even making sure that every new GM vehicle I've ever bought was assembled in a U.S. assembly plant. I never thought I'd be saying that my next car will probably have a Japanese nameplate, but I've had it with General Motors.

They make great cars, but they treat their customers like garbage.

- Routing By Rumor

CEO's have to have a competive salary and package otherwise they will go to another company!

GM has been throwing retirees under the bus now for a while! Just wait until the Union takes over medical benefits. Soon even the workers won't have any medical ins. Good thing Obama is nationalizing the health care system! Looks like all the GM people will need it! Wonder how much of a bonus ole wagoner will get this year since GM only lost $15.5 BILLION in the last quarter?

Everyone seems to be forgetting one little factor -- globalization. Starting in the 1970s, Japanese and German companies, finally recovered from WW II, moved into a wide open U.S. market. The competition was tough on the U.S. based companies and employees. But there is no way to enjoy the fruits of globalization without competing globally. GM is setting sales records outside the U.S., and our new products here, like the Malibu and CTS, benefit greatly from both the competition and from our sharing of technology and expertise among GM's global engineering centers.

sonnype said...
"I dont know what they teach at ivy league bussiness schools but its not common sense


Sonny you need to learn how to spell the word "Business!"

GM will have only Chevrolet and Cadillac and GMC trucks.

Ford will be purchased in a fire sale by either a Korean or Chinese company unfortunately!"

Are you a complete idiot?? It is almost IMPOSSIBLE for GM to get rid of one brand, let alone more than HALF!!! It's called dealerships, and they wouldn't take kindly to GM doing that

And about Ford, once again, COMPLETE STUPIDITY! You people are the most negative, un-American, whiney, BABIES, I've yet to see. How about you guys to Motor Trend.com's forums, theirs a a user called "artie" who you may like!!

I hope Hyundai buys Ford, GM, and Chrysler, all at fire-sale prices and does away with all of them. They have been greedy, with little regard for their customer satisfaction for far too long. I've owned various models of all three and all three companies suck. New car warranty work is a nightmare and many of the dealerships are run by crooks and shysters who will do anything and promise anything to make a sale. Good riddance to the demise of all three brands.

Gloom and Doom where is the postive side to this madness. Whats done is done. Instead of complaining lets fix the problem. Geezzzz we hear only how things are going to get worse. I am in full agreement that mister I cant do the job Wagner needs to be replaced. Mr. Wagner needs to be outsourced to China. GM can survive!!! With the right people, it can happen. Dont throw in the towel yet.

As teacher and one of the top worldwide specialist on economy and development, i have always tell my students that future will be owned by creative peoples and companies. Peoples and companies acting as they learn in schools for so long will be bankrupt at first worldwide economy shake. GM as others have some of the best opportunity to conquest worldwide markets and make a real extent of their business if they understand the right way to move. There are now ways as such, ways to not only save all actual employments but to develop them. Mister WAGONER will be informed of those ways within following days, I am curious to see his reaction, this will tell the world if he is a conqueror or a simple little public employee looking for monthly money without any risk... Friendly Yours... Prof. John M. Verswyver