Comments on: Is Rick Wagoner getting ready to leave GM? http://www.leftlanenews.com/is-rick-wagoner-getting-ready-to-leave-gm.html Car news, reviews, and specs for the auto-industry Sun, 22 Nov 2009 05:06:34 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: jim dollinger http://www.leftlanenews.com/is-rick-wagoner-getting-ready-to-leave-gm.html/comment-page-1#comment-3648 jim dollinger Mon, 13 Feb 2006 11:53:27 +0000 http://www.leftlanenews.com/2006/02/09/is-rick-wagoner-getting-ready-to-leave-gm/#comment-3648 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 www.GeneralWatch.com 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

]]> By: Thesandman http://www.leftlanenews.com/is-rick-wagoner-getting-ready-to-leave-gm.html/comment-page-1#comment-3477 Thesandman Sat, 11 Feb 2006 00:36:33 +0000 http://www.leftlanenews.com/2006/02/09/is-rick-wagoner-getting-ready-to-leave-gm/#comment-3477 Ex FEMA director Michael Brown would be perfect for the job. "It's not me, it's the idiots that work for me." Ex FEMA director Michael Brown would be perfect for the job. “It’s not me, it’s the idiots that work for me.”

]]> By: jeffreyloaf http://www.leftlanenews.com/is-rick-wagoner-getting-ready-to-leave-gm.html/comment-page-1#comment-3409 jeffreyloaf Fri, 10 Feb 2006 04:14:34 +0000 http://www.leftlanenews.com/2006/02/09/is-rick-wagoner-getting-ready-to-leave-gm/#comment-3409 He's leaving because of the pay cuts. He needs to over paid just like the sports jocks. He’s leaving because of the pay cuts. He needs to over paid just like the sports jocks.

]]> By: Angelo http://www.leftlanenews.com/is-rick-wagoner-getting-ready-to-leave-gm.html/comment-page-1#comment-3402 Angelo Fri, 10 Feb 2006 03:06:23 +0000 http://www.leftlanenews.com/2006/02/09/is-rick-wagoner-getting-ready-to-leave-gm/#comment-3402 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. 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.

]]> By: LARRY!!! http://www.leftlanenews.com/is-rick-wagoner-getting-ready-to-leave-gm.html/comment-page-1#comment-3397 LARRY!!! Fri, 10 Feb 2006 02:22:09 +0000 http://www.leftlanenews.com/2006/02/09/is-rick-wagoner-getting-ready-to-leave-gm/#comment-3397 kinda looks like Conan O'Brien kinda looks like Conan O’Brien

]]> By: nikivee http://www.leftlanenews.com/is-rick-wagoner-getting-ready-to-leave-gm.html/comment-page-1#comment-3395 nikivee Fri, 10 Feb 2006 01:22:48 +0000 http://www.leftlanenews.com/2006/02/09/is-rick-wagoner-getting-ready-to-leave-gm/#comment-3395 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. 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.

]]> By: Count Drokoo http://www.leftlanenews.com/is-rick-wagoner-getting-ready-to-leave-gm.html/comment-page-1#comment-3389 Count Drokoo Fri, 10 Feb 2006 00:54:36 +0000 http://www.leftlanenews.com/2006/02/09/is-rick-wagoner-getting-ready-to-leave-gm/#comment-3389 Excellent! A ideal replacement? Carlos Ghosn or Dieter Zetche? Excellent! A ideal replacement? Carlos Ghosn or Dieter Zetche?

]]> By: Mike http://www.leftlanenews.com/is-rick-wagoner-getting-ready-to-leave-gm.html/comment-page-1#comment-3388 Mike Thu, 09 Feb 2006 23:51:01 +0000 http://www.leftlanenews.com/2006/02/09/is-rick-wagoner-getting-ready-to-leave-gm/#comment-3388 better without GM? You go to hell.. u commi bastard better without GM? You go to hell.. u commi bastard

]]> By: steve http://www.leftlanenews.com/is-rick-wagoner-getting-ready-to-leave-gm.html/comment-page-1#comment-3386 steve Thu, 09 Feb 2006 23:00:50 +0000 http://www.leftlanenews.com/2006/02/09/is-rick-wagoner-getting-ready-to-leave-gm/#comment-3386 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! 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!

]]> By: mike http://www.leftlanenews.com/is-rick-wagoner-getting-ready-to-leave-gm.html/comment-page-1#comment-3380 mike Thu, 09 Feb 2006 22:27:46 +0000 http://www.leftlanenews.com/2006/02/09/is-rick-wagoner-getting-ready-to-leave-gm/#comment-3380 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. 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.

]]> By: madcapp http://www.leftlanenews.com/is-rick-wagoner-getting-ready-to-leave-gm.html/comment-page-1#comment-3376 madcapp Thu, 09 Feb 2006 22:14:49 +0000 http://www.leftlanenews.com/2006/02/09/is-rick-wagoner-getting-ready-to-leave-gm/#comment-3376 Hope so. Hope so.

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