A new report by AutoSpies suggests that GM’s embattled CEO Rick Wagoner could have less than thirty days left at General Motors. The report cites reliable sources, but doesn’t provide any further details. Leftlane cannot confirm the report, and this is the first we have heard of this rumor. We would like to stress that this report is completely unconfirmed, and should not be taken as fact.
New car price quote
Zero obligation price quote from a trusted local dealer.
02/09, 5:14 PM
posted by:
madcapp
Hope so.
02/09, 5:27 PM
posted by:
mike
i love how you guys now post the disclaimer about it being a rumour, for the stupid people who couldn’t understand the earlier article and commented on it.
02/09, 6:00 PM
posted by:
steve
if he leaves, does that finally send GM to hell? o god i hope so! the world would be a better place w/o GM!
02/09, 6:51 PM
posted by:
Mike
better without GM? You go to hell.. u commi bastard
02/09, 7:54 PM
posted by:
Count Drokoo
Excellent! A ideal replacement? Carlos Ghosn or Dieter Zetche?
02/09, 8:22 PM
posted by:
nikivee
How sad when an American would like to see a huge American company like GM fail. Do you realize the ramifications to the economy if that were to happen? Do some basic research on economics and then get back to me and tell me GM failing would be good for America.
02/09, 9:22 PM
posted by:
LARRY!!!
kinda looks like Conan O’Brien
02/09, 10:06 PM
posted by:
Angelo
Loosing GM would be very sad for America, even though it’s been many years since I’ve test-driven a GM car while seriously considering buying it.
02/09, 11:14 PM
posted by:
jeffreyloaf
He’s leaving because of the pay cuts. He needs to over paid just like the sports jocks.
02/10, 7:36 PM
posted by:
Thesandman
Ex FEMA director Michael Brown would be perfect for the job. “It’s not me, it’s the idiots that work for me.”
02/13, 6:53 AM
posted by:
jim dollinger
TOP TEN
Reasons Why Wagoner Must Go:
10. CAR SALES
Market share down again, year after year.
9. SELLING FINANCING (instead of cars)
Didn’t work with Olds…not working now.
8. DEBT DOWNGRADED TO JUNK
Questions of financial stability.
7. DISMAL PROFITS AND RECORD LOSSES
Made $1 Billion annually in 1950’s
6. ASSET SALES
Remember Detroit Diesel, American Axle, Frigidaire, GMAC?
5. UNDERUTILIZING CAPITAL
Unprofitable foreign operations and alliances FIAT!!!!
4. LOSING CUSTOMERS UNNECESSARILY
We do the dumbest things (ie GM Card)
3. CORPORATE GOVERNANCE
Auditor/Consultant relationships, Off balance sheet accounting
2. COMPETITION GROWING STRONGER
Increased capacity and higher demand threatens our position.
1. MARKET CAP
Once proud leader, now an also ran.
Since becoming CEO, Wagoner has lost over $50 Billion in value.
If your pitcher is getting bombed in the fifth inning, you motion to the bullpen. It’s time for Mr. Wagoner to hit the showers. While he claims to have no plans for bankruptcy, he certainly showed his colors by implementing a supplemental retirement plan for himself, payable even if GM goes belly up. Rather than a 50% pay cut, he should have been put in the jobs bank.
Time to say goodbye to “Red Ink Rick”!
Buickman
Founder
http://www.GeneralWatch.com