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.
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.
actions costs global gm line major necessary
These actions are necessary for GM to get its costs in line with our major global competitors,
actions costs global line major necessary
These actions are necessary for G.M. to get its costs in line with our major global competitors.
bring continue existing facilities foundation future global pivotal plants played processes provide role
Don has played a pivotal role in strengthening GM's global manufacturing competitiveness, ... His contributions provide an important foundation for our future as we continue to bring these world-class manufacturing processes to new plants and existing facilities around the world.
actions address basis costs financial further global gm good implement improve line moving north order position quickly reduce results several sight steps structural weaknesses
In order to improve financial results in 2006 and 2007, we are moving quickly to implement several important actions that will address these weaknesses in North America. And we have a good line of sight on the steps we need to take to further reduce structural costs on a global basis that will position GM for long-term success.
exactly last sure
That's about what it was in 2004. We're not exactly sure about 2005, but we don't think it will be any different than last year, or what it has been in 2002, 2003 and 2004,
industry mix products reflects reliance sales shifting
The industry sales mix is shifting away from the larger, higher-profit vehicles, even pickups, ... reflects too much reliance on those products for profitability.
basics gradual growth
You've got to have a consistent, gradual growth strategy, and I think some basics are going to be required,
compelling consumers given lower prices reason
The lower prices have given consumers a compelling reason to try our new vehicles, and it's working.
progress sure
I'm not sure I'm going to make a lot of progress by scorekeeping everybody's sacrifice.
pass toyota
I think we'll probably pass Toyota in the U.S. on the workers-per-vehicle metric.
exactly people piece run sacrifice trying versus work
Everybody's got a piece of it. What we're trying to do is look at each piece and say, 'Where are we really uncompetitive versus the people we run against?'... If we're out of line, that's what we need to work on. So, it may not be exactly the same sacrifice everywhere, but I think just about everybody's got a piece of it.
ceo course washington
On Friday I was in Washington for a meeting with Administration officials. In the course of that meeting, they requested that I 'step aside' as CEO of GM, and so I have.