By Leftlane Staff
Monday, Apr 10th, 2006 @ 9:38 am

General Motors CEO Rick Wagoner nearly resigned when GM’s board of directors failed to give him a vote of confidence, reports trade publication Automotive News. On Sunday, April 2, the embattled chief executive asked for the GM board’s endorsement. Unfortunately, that support didn’t come easily, and Wagoner considered resigning from the struggling automaker. However, the board eventually decided to back Mr. Wagoner, and even issued a press release stating that Wagoner had the support of GM’s board. The statement didn’t make mention of the drama that could have lead to a very different outcome, however. In related news, Wagoner reportedly said in an interview Thursday that GM’s turnaround is under way, but it won’t be quick. He said this year’s sales will be flat or only slightly up this year. After that, GM’s sales will slowly climb, as the company’s massive restructuring and revitalization take place.

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