Rick Wagoner
Rick Wagoner
George Richard "Rick" Wagoner, Jr.is an American businessman and former Chairman and Chief Executive Officer of General Motors. Wagoner resigned as Chairman and CEO at General Motors on March 29, 2009, at the request of the White House. The latter part of Wagoner's tenure as CEO of General Motors found him under heavy criticism as the market valuation of GM went down by more than 90% and the company lost more than $82 billion USD. This led to his being...
NationalityAmerican
ProfessionBusinessman
Date of Birth9 February 1953
CountryUnited States of America
auto bullish clear conditions economic economy environment globally industry market overall point prospects remain viewing
It's clear that the U.S. market and economic conditions have become significantly more uncertain. Overall we remain very bullish on the prospects for the auto industry in the U.S. and globally but at this point we are viewing the U.S. economy and auto market environment with considerable caution.
banks burden far greater jobs legacy list near nowhere priority rates top using wage work
If I look at our priority list on the things we need to do to get cost-competitive, wage rates are nowhere near the top for us. We have a far greater burden in legacy costs, in flexibility of using our work force, in jobs banks than we do in wage rates.
daily lessen loss share strategy year
Really, a lot of our share loss this year is a strategy to -- and I think it's the right thing to do -- lessen the daily rental fleet,
above america attention business direction except extreme gm moving north progress work
All of our business units except GM North America are on or above track, and that has the extreme attention of us all. Progress is moving in the right direction ... but we still have more work to do.
adjust burden cost costs exposed fully huge inability legacy line north operations structural weaknesses year
It was a year in which two significant fundamental weaknesses in our North American operations were fully exposed - our huge legacy cost burden and our inability to adjust structural costs in line with revenue.
bold designed further gm improve position step success transition
These bold initiatives are designed to immediately improve our competitiveness and position GM for long-term success and today's transition is a further step in that direction.
gm north quarter
The first quarter represented an important milestone in GM and GM North America's turnaround.
brands car decent job models number products reduced segment showing side strategy work
If you look from 1992 to 1997, we've really reduced the number of car models from more than 100 to about 81. Our strategy is to have the right number of products. Segment the brands better. There's a lot of work being done on the distribution side of the business. And the data's showing that our new products are doing a very decent job in the market.
confident difficult gm period together
This has been a difficult period for all of us at GM but I'm confident that by working together we can and will get through this,
announce biggest build cost forward history reduction single step
This is a very big step forward that we will build on, ... the single biggest cost reduction that we've probably been able to announce in a single day in the history of G.M.
reach taken time
These negotiations were done in a positive, cooperative, problem-solving spirit, ... While it may have taken some time to reach this cooperative solution, I think it was time well-spent.
action benefits companies conceived continue costs decades difficult explosive face foreseen global greatest high increasing inflation necessary number recent rise rising similar simply taken
This is a difficult but necessary decision, and it was made only after the greatest deliberation. A number of other U.S. companies have already taken similar action in the face of these rising costs and increasing global competition. In particular, U.S. health-care costs continue to rise at high rates. When these benefits were conceived decades ago, no one could have foreseen the explosive cost inflation that we have been experiencing in recent years. These costs are simply not sustainable.
asked board career chairman continues develop fritz gm grow hope identify job jobs logical took
That's silly. Fritz took the CFO job because I asked him to, and the board approved. It was a logical progression in his career and I hope Fritz continues to develop and grow. One of my most important jobs as chairman of GM is to identify and grow talent.
capacity chosen classic example good high left list oklahoma plant plants quality quite satisfy sure
Oklahoma City, (which makes the mid-sized SUV) is a very good plant but a classic example of ... just having too much capacity in that segment, ... That's why that plant in on the list today. We don't have any plants left that aren't very high quality and quite productive. I'm sure I'm not going to satisfy any plant as why they've been chosen to be on the list.