GM’s decision to offer early retirement to 113,000 workers left many in the nation’s capital wondering whether their worst fears might come true — bankruptcy General Motors. “We are watching this very closely,” said a Senate Finance Committee staff member. “It is one of our big concerns.” Meanwhile, GM’s CEO Rick Wagoner faces a growing number of critics who want him to step aside in order to win back investor confidence, reports Reuters. “When a company run by a CFO is having problems with its books, what does that tell you? You’ve got a man who is not up to the job,” said Peter Morici, a professor at the University of Maryland business school.
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03/23, 12:45 PM
posted by:
Joey D
Rick just needs to go away, he’s done doing good for GM and now is just making them hurt. As a GM stock holder I don’t want him screwing things up anymore.
03/23, 2:24 PM
posted by:
KissMyX
who would have known 15 years ago that GM might go bankrupt… not me
03/23, 3:44 PM
posted by:
JoJohn
How hard is it for them to poach some execs and plant managers from toyota or honda and make their operations more closely mimic the Japanese model? They could have also tried to hire away some of the chrysler designers or (designers are cheap!) – they’ve seen import penetration for 30 years without addressing it. As an aside, I have heard the mentality of wall street and constantly worrying about stock prices is what keeps American companies from focusing on quality like the japanese, but I also think it is poor management and a culture of mediocrity.
03/23, 4:02 PM
posted by:
Anonymous
Hell, get Carlos Ghosn on the phone. He took Nissan from in-the-red to black in about five years. Who cares if his parents are from Lebabnon – it’s not like he’d be running the ports.
jim
03/23, 5:25 PM
posted by:
gsh
ah the smell of defeat…soon the US can be rid of terrible subpar cars
03/23, 5:48 PM
posted by:
Dallas
hey LLN used that picture AGAIN!!!!!!
haha, now its like 11 times or something