We called it: GM's Wagoner is safe

Looks like General Motors Corp.'s CEO Rick Wagoner will be sticking around. The board is backing Wagoner even with the company's $15.5 billion loss in the second quarter, according to The Wall Street Journal. Wagoner has been at GM's helm as CEO since mid-2000. GM reported cumulative losses of roughly $50 billion for 2005, 2006 and 2007. Just in case you missed it, The Deal's Lou Whiteman said Friday during an appearance on Fox Business that Wagoner would be safe. Watch the video after the jump. - Maria Woehr

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See TheDeal.com: General Motors bleeds $15.5B

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