Entries tagged "Rick Wagoner"

Should bank CEOs worry about Wagoner resignation?

The Obama administration has brought "change" to General Motors. Will the banks be next?

Recycling an old idea: Steve Jobs at GM

Spark Capital founder Todd Dagres recycled Thomas Friedman's earlier suggestion that General Motors (NYSE:GM) should tap Apple (NASDAQ:AAPL) CEO Steve Jobs to lead the company.

A tale of two GM units

In addition to cutting U.S. brands Hummer and Saturn, GM is also considering Saab and Opel, but not before it attempts to shake down the Swedish and German governments for cash.

House leaders spell out auto conditions

Congressional Democrats sent letters to the heads of Chrysler and GM, urging them to describe specifically how they will position their companies to become competitive.

Does GM have no sense of reality?

Does General Motors Corp. really know where its financial footing is? Company spokesman Greg Martin told Bloomberg News Tuesday: "The U.S. Treasury's $13.4 billion bridge loan to GM, coupled with the separate transaction for GMAC, meets our liquidity needs under the scenarios outlined in our December plan to Congress." But can the market really believe the Detroit automaker's words considering its numerous snafus that have put the company in its precarious situation in the first place? ...

GM's future drivers?

Congressional calls for the replacement of General Motors Corp. CEO Rick Wagoner as part of the government's loans to the troubled automaker have prompted speculation in the media and blogosphere about who might replace him. The Wall Street Journal speculated earlier in the week that Nissan Motor Co. Ltd. and Renault chief Carlos Ghosn is a good bet given his track record of quickly turning around Nissan earlier in the decade -- and a speedy recovery is a key provision of the bailout bill. Others suggest an internal GM choice such as COO Fritz Henderson, but Washington may not find...

GM blames everyone but itself

As General Motors Corp. and its Detroit brethren scramble for government bailout cash, the companies and their advocates have spread the blame for their troubles widely. Foreign competition, uncompetitive union contracts, tight credit markets and falling employment are just some of the many reasons given for the automakers' troubles....

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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