John Devine
John Devine
behind committed difficult drag expect pension share
Without the pension drag, we'd expect to make about $7.50 a share this year, ... We're not excusing the pension expense. But we'll be working through it, we'll get this behind us. Making the $10 (a share target) with the pension drag will be difficult but we're still committed to it.
boom business expect mortgage
We expect some slowdown in the mortgage business as the refinance boom fades,
achieve despite earnings environment objectives tough
We will achieve our 2004 earnings objectives despite a tough competitive environment,
year
Overall, 2002 will be a very challenging year for the industry,
candidate candidates class forward looking sleeves taking
Robbie is a first class candidate and we are looking forward to him getting his sleeves rolled up and taking on the other candidates on the issues.
continue economy industry last lose money primarily weaker year
We'll probably continue to lose money, primarily because the industry is going to be weaker this year than last year, ... We don't think the economy has bottomed out yet.
america area costs drag good healthcare increasing last loss north profits progress projected reducing several vulnerable
While we have made good progress in reducing costs over the last several years, the projected loss in North America reinforces our need to do much more, particularly in the area of healthcare, ... Healthcare has been an increasing drag on North American profits and it's made us vulnerable to profit shortfalls.
allow balance business came confidence degree despite gm half high intense inventory levels maintain production rates reasonably stable volatility
GM has a high degree of confidence in the business despite the volatility in the marketplace and the intense competitive environment, ... GM's inventory levels came down significantly during the first half and are now at appropriate levels. This should allow us to maintain reasonably stable production rates for the balance of the year.
work
If they want it so badly, let them do a little work for it,
advantage anybody certainly consumer good looking quarter
Certainly the first quarter was better than anybody expected, but we're still looking for a very good year, ... The consumer is king right now and we're going to take advantage of that.
change continue heart major number obviously parts private system today
The private entrepreneur who is the heart of our system today will continue in the future. I don't think that's going to change. But there is obviously going to be a major change in a number of the parts of distribution.
business obviously respect
This is Delphi's business and it's their call. We respect that. Delphi is very important to us. We obviously want to be as constructive as we can. That said, we're obviously going to do what's right for GM,
best general obviously
Delphi is very important to us, and we obviously want to be as constructive as we can. That said, we obviously are going to do what's best for General Motors.
absolutely
There are things we can do. We did one of those today. Is that enough long term? Absolutely not,