General Motors
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GM halves dividend, slashes top salaries Tuesday February 7, 9:07 am ET DETROIT (Reuters) - General Motors Corp. (NYSE:GM - News) on Tuesday cut its dividend for the first time in more than 13 years as it struggles to save money after a year of billions of dollars in losses. GM's board of directors cut the dividend in half, to an annual rate of $1 a share, saving about $565 million a year. At the same time, Chairman and Chief Executive Rick Wagoner will see his salary cut in half, while Vice Chairmen John Devine, Robert Lutz and Fritz Henderson will see their salaries cut by 30 percent. Article continued Full URL: http://biz.yahoo.com/rb/060207/autos_gm.html?.v=5
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* Not sure if this is in a bad spot so I put it here and in the hummer forum. ...Thanks! I loved the "Monster" commercial for the H3 and went to the official site today to find that Jennifer (Godzilla) has her own url that is about everything and nothing, all at the same time. Cambell E. or whichever design house that was responsible for not only the ad, but this mock webpage really hit it on the head with this one! http://www.hummer.com/monsters/index.html http://www.jenniferlovestherobot.com/ love that music smile.gif smile.gif smile.gif Kevin
Last reply by mustang84, -
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GM board to consider dividend and pay cuts, seat for York DETROIT -- General Motors’ board on Monday will consider plans to cut the automaker's dividend by as much as 50 percent, cut the salaries of top executives and give a board seat to Jerry York. According to sources familiar with GM's plans, the board is considering a number of proposals originally put forth by York. He represents Las Vegas billionaire Kirk Kerkorian, who owns 9.9 percent of GM’s shares. can someone post the link?
Last reply by BigPontiac, -
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suprised no one has posted this Source: General Motors [Jan 31, 2006] SYNOPSIS: The campaign is designed to make consumers, energy producers and policy makers aware of the E85 capability already found on more than 1.5 million GM vehicles in the market. WASHINGTON D.C. - General Motors today launched an unprecedented national advertising and marketing campaign to build awareness and market acceptance for ethanol/gasoline blended fuel (E85) vehicles as a major plank in its corporate marketing campaign at the Washington Auto Show. The campaign, "Live Green Go Yellow," will break during the Olympics in February and continue throughout the year with print, web and bro…
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Bankruptcy, Shmankruptcy Jerry Flint, 02.13.06, 12:00 AM ET Enough already on General Motors and Bankruptcy. I am tired of the B-word. GM isn't going bankrupt this year; GM isn't going bankrupt next year; 2008 is so far off that even Bill Gates could be bankrupt by then. It's dangerous to go three years out, but no, I wouldn't expect GM to go bankrupt in 2008, either. Why not? The company has $19 billion in the kitty and just about $100 billion in the pension fund. But there's more here than the balance sheet. When I was a boy, there was one reason companies went bankrupt: They couldn't pay their bills. GM can pay its bills, so that's not a problem. The new reason f…
Last reply by BigPontiac, -
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The Daily Auto Insider Tuesday, January 31, 2006 January 2006 At the Houston Auto Show, GM executives told the Dow Jones that demand from dealers for their new full-sized vehicles exceeded the automaker’s expectation. CEO Rick Wagoner, praised the fuel efficiency of GM’s large vehicles. Both GM and Ford suffered large market loss to foreign competitors as the SUV and pickup market slowed last year. Nonetheless, GM is pinning its hopes on the launch this year of its GMT 900 line of full-size trucks and SUVs. GM says these new models will encompass about a third of its sales in 2006. Wagoner told the Dow it's too early to predict how well the new large utility vehicl…
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GM to build two hybrid SUVs in Texas Wed Feb 1, 2006 9:19 AM ET DETROIT, Feb 1 (Reuters) - General Motors Corp. (GM.N: Quote, Profile, Research) said on Wednesday it will build Chevrolet Tahoe and GMC Yukon hybrid sport-utility vehicles at its Arlington, Texas, plant in late 2007. The hybrid system is being advanced and adapted by BMW (BMWG.DE: Quote, Profile, Research), DaimlerChrysler AG (DCXGn.DE: Quote, Profile, Research) and GM for use in cars, trucks and SUVs. GM, the world's largest automaker, also said it will produce the world's first light-duty integrated hybrid transmission, to be designed and built at its Baltimore, Maryland, transmission plant. http://y…
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DETROIT (Reuters) - Detroit's traditional Big Three automakers on Wednesday reported surprising increases in January U.S. vehicle sales, breaking losing streaks that began in the fall of last year as their aggressive discounting lost steam. Both General Motors Corp. and Ford Motor Co. cautioned that their outsized monthly gains came from a one-off surge in fleet sales, while their retail sales declined in the traditionally slow month. Sales to rental-car companies and other large-scale purchasers such as government agencies are generally less profitable than sales to individual buyers. Even so, the stronger sales tallies were welcome relief for both GM and Ford, whi…
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What a great article. Maybe word is finally getting out there.
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AW DETROIT -- Watch out, Chevrolet. Kia Motors America has you in its cross hairs. That caution from COO Len Hunt reflects marketing data showing that Chevrolet is the brand most frequently shopped by prospective Kia buyers, except for Hyundai, he told the Automotive News World Congress. "When we take Hyundai out, Chevrolet, with its sporty image, is our biggest cross-shopping brand," Hunt said. "So be careful, that's where our customers are coming from."
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Kirk, Could You Please Demand Something..NOW?
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This is entirely off the top of my head, but after reading GM's not so "surprising" news (I've known it was coming for awhile now). When you have college grads, Ivy leaguers and the like sitting on GM's board that did not see this coming when I did it's rather disheartening. To put it blunt...would it be better for Kerorkian to rise up, demand changes at GM (I mean actually DEMAND changes) or would it be better for him to stay astray during GM's ever so mounting financial problems?
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Harris returns to head GM public relations DETROIT -- Beset by bad press and a skeptical Wall Street community, General Motors is bringing back its former public relations chief, Steve Harris. According to a company insider, Harris will resume his former job as vice president of global communications on Wednesday, Feb. 1. He replaces Tom Kowaleski, 54, who took that job after Harris retired in 2004. Kowaleski is leaving GM to pursue other interests. According to a company insider, senior GM executives have concluded that Kowaleski -- who is known for his product expertise -- is not well-suited to be GM's spokesman during its financial crisis. Harris, 59, was widel…
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Harris returns to head GM public relations Jamie LaReau Automotive News / January 31, 2006 - 12:26 pm -------------------------------------------------------------------------------- DETROIT -- Beset by bad press and a skeptical Wall Street community, General Motors is bringing back its former public relations chief, Steve Harris. According to an internal company message, Harris will resume his former job as vice president of global communications on Wednesday, Feb. 1. He replaces Tom Kowaleski, 54, who took that job after Harris retired in 2004. Kowaleski is leaving GM to pursue other interests. According to a company insider, senior GM executives have concluded th…
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Wonder if anyone posted this: http://fleetnews.gmcanada.com/news_flash/e...shtml#TopOfPage Aura starts July 24 Epica is gone
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History Up in Smoke Fleetwood body works buildings destroyed By TERRY SCOTT REED AutoWeek | Published 01/23/06, 2:54 pm et A factory referred to as the birthplace of car body building, the Fleetwood Metal Body Works in Fleetwood, Pennsylvania, was destroyed by fire Dec. 24. In its heyday Fleetwood installed up to 80 percent of its bodies on Packard chassis, with only 10 percent for Cadillacs, but it is Cadillac with which Fleetwood is perhaps most strongly associated. General Motors obtained the Fleetwood name when it acquired the company as part of the purchase of Fisher Body Co. Fleetwood had achieved worldwide fame as a coachbuilder before Fisher acquire…
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Rich Ceppos The Madeleine Effect By RICH CEPPOS AutoWeek | Published 01/23/06, 3:00 pm et So there we were, Anne Asensio and me, on the GM stand during press days at the North American Interna-tional Auto Show in Detroit. We watched workers ease the retro-inspired Camaro concept onto its turntable. Asensio is French. She has spent much of her career designing cars for Renault, and is now the executive in charge of GM’s advanced design studios, where this most red-blooded of American concepts began life. Though Asensio would be the first to say she didn’t pen the car that won AutoWeek’s Best in Show award—and is a cinch for production according to hig…
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Wagoner: Health Care Must Be Addressed
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HOUSTON Jan 27, 2006 — American industry and the government will need to address how rising health care costs are hurting companies and the economy, General Motors Corp.'s chairman Rick Wagoner said on Friday. "I want to be clear I'm not saying we expect the government to pick these expenses up," Wagoner said at the Houston Auto Show a day after the world's No. 1 carmaker reported it lost $4.8 billion in the fourth quarter, one of the its most dismal showings ever, and $8.6 billion for 2005. "I think they've made it very clear they don't intend to do that, at least the current administration." The "health care burden" affects every business as well as government and a…
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http://www.detnews.com/apps/pbcs.dll/artic.../601260442/1361 --- Dear Mr. Bush, I've been supporting you and your administration despite your obviously unpopular actions since takng office. I've been a believer in the Iraq war, even though it's questionable as to whether or not we belong here. I don't even mind you supporting the invasion of my privacy. I have nothing to hide. However, after reading the article above, I now see things as they are. You and your administration really don't care about the well being of this country. The last six years have been more about personal agendas than making America a better place to live. If you have a better explanation, I'd l…
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"Here's one of the most shocking numbers from GM's genuinely awful fourth-quarter financial report: 39% of the passenger cars GM sold in the U.S. during the quarter were sold to fleets, including rental-car agencies. When people say that GM makes too many cars that people don't want, this is what they are talking about."
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Last reply by BuddyP, -
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Cadillac and Buick ranked higher than Toyota and Honda in reliability survey. Other GM brands hovering around average and are much better than Nissan. http://money.cnn.com/2006/01/23/Autos/amer..._cars/index.htm
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carscoop scroll down halfway, some good epica / verona pics.
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Given the results of C&G Polls, this should be interesting: Informal Survey Time By Jack Keebler GM Director--Advanced Concepts Group One of the things that GM would like to better understand is the level of enthusiasm for rear-wheel drive versus front-wheel drive, particularly for young buyers of compact and sub-compact cars. Our belief is that front-wheel drive cars can be very rewarding to drive if properly set up. We also like the interior packaging space advantages, low mass and poor-weather traction of front-drive vehicles. At Saab, there is a long and storied tradition of fast, reliable rally cars. These cars fed significant power through the front wheels …
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FOR RELEASE: 2006-01-24 General Motors Unleashes “Autotainment” On Las Vegas Scene GM to Open Unprecedented “The Drive” Facility Offering Performance & Off-Road Driving Experiences in Spring of 2006; GM also Becomes a Marketing & Advertising Partner of the Las Vegas Monorail Company Additional information and photography LAS VEGAS – With tons of dirt and a dose of speed, the corner of Paradise Road and Sahara Avenue will be transformed in spring of 2006 when General Motors opens the doors of “The Drive,” a unique hands-on driving experience that will be the first of its kind within the United States. Featuring two professionally-designed driving cour…
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http://autonews.com/apps/pbcs.dll/article?...d%20section>
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heres another article
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GM To Work On "Creation of a line of small, agile,
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Kerkorian Reacquires 12 Million GM Shares By DEE-ANN DURBIN, AP Auto Writer Wed Jan 25, 6:35 PM ET DETROIT - Billionaire investor Kirk Kerkorian is acquiring 12 million shares of General Motors Corp. stock, matching the number of shares he sold in December, a federal regulatory filing showed on Wednesday. Kerkorian's private equity firm, Tracinda Corp., bought 5 million shares of GM stock on Monday for an average purchase price of $21.40, or approximately $107 million, it said in a filing with the Securities and Exchange Commission. On Tuesday, Tracinda agreed to purchase an additional 7 million GM shares in a private transaction for $22.25 per share, or appro…
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http://money.cnn.com/2005/12/16/markets/sp...dex.htm?cnn=yes
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Last reply by buyacargetacheck, -
Toyota chairman: U.S. gov't may help GM
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TOKYO (AP) - Toyota Motor Corp. Chairman Hiroshi Okuda said Tuesday he believes General Motors Corp. will likely receive support from the U.S. government if it faces further trouble. "I have the feeling that GM is in a difficult situation," Okuda was quoted as saying by Hisako Komai, a spokeswoman for the Nippon Keidanren, Japan's most influential business lobby. Okuda heads the lobby. "But the auto industry is a symbol of the United States, and if GM faces further difficulty, I don't think the U.S. government will leave it," he was quoted as saying at a press conference for the organization. Okuda's remarks came as Japan's top automaker tries to overtake the strugg…
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Issue Date: January/Febuary 2006 , Posted On: 1/25/2006 Can GM Fight Back? Wagoner says it can with some help—not a bailout—from Washington. by william J. holstein General Motors chief executive Rick Wagoner, who has announced plans to cut 30,000 jobs and close nine factories by 2008, says the Bush Administration is making a mistake by targeting China’s currency, not Japan’s. Here are highlights of an interview conducted originally for The New York Times: Q. Is GM going into Chapter 11? I think we’ve got a good plan to get the business turned around. I think as we’ve sat back and looked at where we are this year as things turned south, I think we have a p…
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FOR RELEASE: 2006-01-25 GM Restoration Parts and Chevrolet donate $2,500 in genuine parts to restore Corvette returned 37 years after being stolen DETROIT – GM Restoration Parts and Chevrolet have donated $2,500 in genuine parts to help restore the 1968 Corvette convertible that Alan Poster recently had returned to him after being stolen 37 years ago. Alan Poster, who made a number of headlines last week for having his stolen Corvette returned just before being shipped to a would-be buyer in Sweden , was surprised by the gift during an interview with Cruise Control Radio, a national automotive talk radio show. Harlan Charles, Corvette product manager, called to c…
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Told him how Chevy's focus on horsepower was a welcome relief. Told him how the Z06 and TBSS gave me hope that car guys were still running things at GM. We started talking about the Camaro concept and I told him if they build it without watering down the design, meaning build it very near the concept, I'd put one in my garage. His response was totally disturbing.... He said GM marketing is convinced they should write off buyers older than 40, since they won't be able to sell them many more cars anyway. He said GM Mktg believes younger buyers are only concerned with technology (bells and whistles) in their cars rather than horsepower and cubic inches. He was *very* s…
Last reply by Camino LS6, -
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Per thegriffon's request, I am posting a Turbo Edition revised version of the "Saving the GTO" thread. :) Please vote again in this one, please voice your opinion on this issue as it is a clarified poll, and, well, two polls are better than one to get GM's attention with. :P Are you a Pontiac fanatic at heart? Do you lust over the '69 Firebird like i do. That dramatic nose, the raising strong shoulders, all accuentated by a strong yet shapely rump. Ah, beautiful car. Pontiac really could use a revival. A return to its performance roots and design roots are the necessary steps to give this brand a reason to exist, and a reason for people to …
Last reply by turbo200, -
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Pearl Harbor remains a useful analogy given Admiral Isokoru Yamamoto's statement on December 7, 1941 - "I fear we have woken a sleeping giant and filled him with a terrible resolve." Heres an old article, 2001 July... hrmm wanted to take this thread to another level, but... I really find it strange that all I seem to hear regaurding GM is that its waking up, that the General is finally starting to wake up. GM is learning Product matters. GM is asking for input on what direction their vehicles should take, I.E. front wheel drive, rear wheel drive, or all wheel drive. GM has hired Car Zcar, Robert Lutz, a old fighter pilot that has gasoline in his blood. GM is taki…
Last reply by Newbiewar, -
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http://autoweek.com/apps/pbcs.dll/article?...E/60116001/1041 DETROIT - For General Motors Vice Chairman Robert Lutz, the Chevrolet Camaro concept car tops the list of possible vehicles in the automaker's lineup of mid-priced to premium-priced, rear-drive cars for North America. GM will select vehicles for the program within six months. Production will begin in 2008 or 2009
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The strangest thing about the crisis in the American auto industry is this: Nobody outside of Detroit seems to care. General Motors (nyse: GM - news - people ) could go down. Ford Motor (nyse: F - news - people ) could go down. If either company fails, hundreds of thousands of workers could lose their jobs and health benefits. I'm not saying that this is going to happen. I'm just saying that the American people and the leaders in Washington don't seem particularly concerned about the traditional U.S. auto industry. I remember when we used to say that one in six jobs in America was connected to the automobile industry. I remember in 1953 when the head of …
Last reply by daves87rs, -
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Simple question, simple answer. I'm sorry I had to put the Corvette as an aside, but since it's, imo, there only class-leading product, I had to list the caveat. And, it is after all, the flagship, GM has to get it right. So share some opinions, give me your best, we're all fans, and we're all interested in the best for this company. EDIT: Sorry I wasn't more specific. This question should be, "In general do you think GM makes class-leading or competitive products." This should not include just a few entrants, consider the number of segments GM competes in, and consider how many are actually class-leading or very near the top of that seg…
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A scandal at Fiat
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The Fiat empire has suffered a series of humiliations in recent years as the company has struggled to compete in the super-competitive automotive world. The empire, which includes Ferrari, is currently headed by former Ferrari chairman Luca di Montezemolo, who was called by the Agnelli Family in after the death of Umberto Agnelli in May last year. The original plan was for the empire to come under the control of Umberto's nephew Giovanni Alberto (the son of Gianni Agnelli - the man who led the firm from 1966 until his death in January 2004) but he died of a rare cancer in 1997. Agnelli's son Edoardo never seemed likely to take the role and committed suicide five y…
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Consortium Orders 157 GM Hybrid-Powered Buses Eleven transit agencies in California, Nevada and New Mexico place one of the largest hybrid bus orders ever DETROIT - A hybrid bus consortium consisting of 11 transit agencies in California, Nevada and New Mexico has awarded a contract to Gillig Corp. for the purchase of up to 157 diesel-electric hybrid buses powered by General Motors' advanced hybrid propulsion system. The purchase contract is the second largest since GM's hybrid diesel-electric system debuted in 2003 and was spearheaded by the San Joaquin Regional Transit District (RTD) in California. San Joaquin RTD formed the consortium with other transit agencie…
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http://thetruthaboutcars.com/content/11369...89408/index.php I used to think that this site was somewhat useful.... Has anyone seen this?
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http://news.yahoo.com/s/ap/20060118/ap_on_...ette_comes_back A nice article with a happy ending. I guess miracles do come true sometimes. CARSON, Calif. - The last time former New York City resident Alan Poster saw his dream car, he was young and it was blue. Nearly four decades later, he's a little grayer and the car has turned silver — but it was love at first sight again as the Corvette somebody swiped in New York was returned to him. ADVERTISEMENT "It's a dream. Wow, this is a beautiful model," Poster said as customs officials unveiled the 1968 sports car. "This is definitely a miracle. Because in speaking to the police, the odds of them finding me were a millio…
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www.gmcard.com/topoff2k My present balance is $91 in earnings. GM card is rounding it up to $2000. Last year they rounded us up to $1500 and we helped my brother in law get a new silverado. Unfortunelely vehicles not included are the cobalt, vibe, and all Saturns. These are all most likely purchases for us. Surprisingly the 2007 Tahoe, etc. are included.
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GM Cuts Sticker Prices to Provide Even More Value
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Consumers Benefit Through Simplified, More Competitive Pricing DETROIT – GM today announced that it has significantly lowered Manufacturer’s Suggested Retail Prices (MSRPs) on vehicles accounting for about 80 percent of its sales volume. This move covers every Chevrolet, Buick and GMC model, as well as most Pontiac cars and trucks. The new MSRPs are effective Jan. 11. This is the next step in GM’s initiative to simplify pricing and offer consumers the best value in the industry. Combining this price repositioning with adjustments made to MSRPs at the beginning of the 2006 model year, GM has lowered MSRPs on vehicles representing about 90 percent of its volume. “This…
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Reuters GM CFO: "I am in crisis mode" Tuesday January 10, 2:38 pm ET DETROIT (Reuters) - General Motors Corp. (NYSE:GM - News) Chief Financial Officer Fritz Henderson said on Tuesday that the automaker is operating in a "crisis mode" and shares the sense of urgency of Jerome York, a close aide to billionaire investor Kirk Kerkorian. York, in a speech in Detroit, called for GM to step up efforts to stanch its mounting financial losses. "This is one of our largest shareholders who is articulating his vision for what we need to do and frankly there is a lot that he had to say that I agree with," Henderson told reporters after listening to York's speech in a Detroit hote…
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http://www.yahoo.com/s/268025 DETROIT - General Motors Corp. expects to save about $4 billion this year as it implements its North American turnaround plan, Chairman and CEO Rick Wagoner said Friday. But he declined to give earnings guidance, saying there are too many outstanding issues facing the struggling automaker. Wagoner also refused to speculate on whether the board of the world's biggest automaker will consider cutting dividends to shareholders. Earlier this week, Jerome York, an aide to billionaire investor Kirk Kerkorian, said GM should consider halving its annual $2 per share dividend, which he estimated would save $566 million a year. "We have a lot of top…
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I obviously like news like this. Some analysts feel it will bode well for GM. They also say that it will be the dealers that will "take it on the chin." I immediately went to a couple of GM web sites to see how certain cars were priced and then to GM card to see if the allowances changed (downward). I did see, however, that some incentives have been lowered. Well, but that was expected. Do you think that the mark-ups will proportionately be the same? Do you think this will mess with the dealers? DO YOU THINK GM WILL SELL MORE CARS OR THAT THE OTHERS WILL FOLLOW SUIT?
Last reply by trinacriabob, -
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Sorry If already posted.... Kerkorian Calls for Drastic GM Overhaul The Daily Auto Insider Thursday, January 12, 2006 January 2006 Jerome York, investor Kirk Kerkorian's top lieutenant, urged General Motors to speed up and expand its restructuring, The Wall Street Journal reported. York, an adviser to Kerkorian's Tracinda Corp., which owns 7.8% of GM, said GM should immediately do the following: Cut its $2 a share annual dividend in half to save $566 million a year; cut pay significantly for top executives and directors; drop salaries for lower-level employees; trim GM's lineup of more than 80 U.S. models; and get rid of the Saab and Hummer brands to focus on cor…
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In the immortal words of Bill the Cat Eck http://forums.autoweek.com/servlet/JiveSer...Verona%2001.jpg
Last reply by Imaj, -
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I'm hearing increasing chatter regarding the 2008MY GMX386 on Global Epsilon. Backroom channels, scrawling on the walls of secret passages, notes between homeroom and first period, smoke signals, that sort of thing. Internal GM plans (as recently as September 2005) were showing a very green October 2007 launch. Hands on the wheel. Eyes on the road. It seems the eternal footman was recently spotted in the area of this bedrock program. No coat was seen in hand. Not the hint of a snicker. Yet, there he was, inexplicably peering in its darkened windows, fogging up the front passenger window, kicking tires, tracing his fingers along the sheetmetal. What WAS he do…
Last reply by turbo200, -
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http://www.smartmoney.com/bn/ON/index.cfm?...109-000270-0950 http://www.miami.com/mld/miamiherald/busin...ng/13570760.htm
Last reply by Newbiewar, -
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Wow... thats a powerful statement to say that 90% of all Chevrolet cars purchased receive better then 30mpg on the freeway... Most Dependable long lasting trucks... More Americans Choose Chevrolet brand then any other brand... Americas Number 1 Brand Americas Number one Value
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America's Best- Selling Full-Sized SUV To Start At $33,990 DETROIT – Chevrolet today announced the all-new Tahoe will be priced at $33,990 for the LS model equipped with a standard 5.3L engine. This new vehicle is priced approximately $2,000 below its predecessor. The 2007 Tahoe goes on sale at Chevrolet dealers across the country today. “Tahoe has been the best-selling full-sized SUV since 2001. The 2007 model is the best Tahoe yet, and we are bringing it to the marketplace at a great value,” said Ed Peper, Chevrolet general manager. “This is very consistent with our recent pricing of other launch vehicles, making America's number one brand, Chevrolet, also America…
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Tracinda Steps Up Pressure on GM By Nat Worden TheStreet.com Staff Reporter 1/10/2006 2:08 PM EST Kirk Kerkorian's firm, Tracinda, called on General Motors (GM:NYSE - commentary - research - Cramer's Take) Tuesday to pare back its dividend payments to shareholders and adopt a comprehensive "equality of sacrifice" plan to revive its business. The firm said its adviser, Jerome York, presented a plan for GM at the Society of Automotive Analysts that included cutting the company's annual dividend by 50%. York also is seeking a "substantial" reduction in payments and salaries for the company's top brass. "The reality is that all constituencies -- the companies themselv…
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The Battle Of The Marks Round 1
by Guest Josh- 7 replies
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N othing like a war of words to show the general public and the restructuring-weary at GM's RenCen and Ford Motor Co.'s Glass House that a few of them can still muster enough passion to play offense. In General Motors Corp.'s corner stands Mark LaNeve, 46, a former linebacker from the University of Virginia with roots in Pennsylvania's hardscrabble steel country, who helped revive Cadillac and now is the automaker's North American vice president for sales, service and marketing. In Ford's corner there's Mark Fields, 44, a Harvard biz school grad who, despite tours as president of Mazda Motor Corp. and Ford's premium brands in Europe, still carries the faint swagger of N…
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- 978 views
Sorry... wrong information
Last reply by Nick, -
Wagoner Isists No Bankruptcy For GM; Losses Will E
by Guest Josh- 5 replies
- 1.5k views
DETROIT, Jan. 6 - General Motors expects to reduce the billion-dollar losses at its struggling North American operations this quarter, as its cost-cutting efforts take effect, G.M.'s chief executive, Rick Wagoner, said today. Speaking in a rare interview with a small group of journalists at G.M.'s headquarters here, Mr. Wagoner declined to say when the automaker's North American operations would return to profitability. But he did emphasize that G.M. had no plans to file for bankruptcy protection. And Mr. Wagoner said he anticipated that stronger sales of new vehicles, including a restyled group of sport utility vehicles, combined with the company's restructuring should…
Last reply by JazzyChef, -
GM's Lutz: In It for the Long Haul
by Guest Josh- 43 replies
- 5.4k views
The carmaker's 74-year-old vice-chairman on what it'll take to rebuild the brand: Attractive new models, more focus, and a bit of patience Perhaps no single personality in the auto industry conjures as much attention, praise, or controversy as General Motors' venerable new-car czar, Robert "Bob" Lutz. When he joined GM in September, 2001, after retiring from Chrysler in 1998, he lighted hope among longtime GM watchers and company lifers that he could bring style and spirit to a carmaker derided for building a parade of prosaic models. During the past year, with GM losing almost $4 billion and market share sinking, Lutz has been under mor…
Last reply by FUTURE_OF_GM, -
- 2 replies
- 1.1k views
GM: NOT SO FAST, TOYOTA: A global sales surge keeps us ahead, Wagoner reports January 7, 2006 BY TOM WALSH FREE PRESS BUSINESS WRITER They may want to hold off on the party hats at Toyota Motor Corp. General Motors Corp. Chairman Rick Wagoner said Friday that GM sold nearly 9.2 million cars and trucks worldwide in 2005, the most since 1978, casting doubt on forecasts that Toyota Motor Corp. might surpass GM as the world's automotive sales leader this year. For the first time in its history, GM sold more cars outside the United States than inside. Not only did GM emerge as the market leader in fast-growing China, it also posted all-time sales highs in Latin America a…
Last reply by Northstar, -
OnStar: People call when they're lonely
by Guest Josh- 1 follower
- 6 replies
- 2.1k views
January 6, 2006 11:03 AM PST LAS VEGAS--Customers who subscribe to GM's OnStar service mostly call when they need help unlocking a car or after an accident--but some call when they are lonely, said Chet Huber, president of the company. "They call and ask them (the OnStar phone consultants) to contact their wife," he said. The social calls, however, have been dropping since the company integrated Verizon's cellular service with hands-free driving. During Hurricane Katrina, OnStar gave customers in Louisiana free cellular service. In some places, it was the only phone. The company will come out with a new upgrade of its hardware in a month. On…
Last reply by capriceman, -
- 1 follower
- 15 replies
- 1.8k views
http://www.theglobeandmail.com/servlet/Art...s/International
Last reply by Robert Hall, -
GM Executive Regrets Employee Pricing
by Guest Josh- 32 replies
- 5.1k views
GM EXEC REGRETS EMPLOYEE PRICING INCENTIVE, WILL NOT REPEAT IN 06 Source: wsj.com Article quotes: General Motors Corp.'s top North American sales and marketing executive, Mark LaNeve, said he now regrets launching the employee-discount program that drove GM sales to record levels last summer, and doesn't plan to repeat such promotions this year. Instead, Mr. LaNeve said in a recent interview that GM will roll back prices, and try to emphasize the advantages of its new models. Mr. LaNeve declined to say how much GM would lower prices compared to Ford Motor Co., Toyota Motor Corp. and other car makers, but he said the sticker prices would be "aggressive.&qu…
Last reply by MyerShift, -
GM Reducing 500 Engineers From Warren Tech Center
by Guest Josh- 21 replies
- 2.6k views
General Motors Corp. will lay off about 500 contract employees, many of them engineers and designers at its technical center in Warren, on Friday as part of the automaker's effort to downsize its money-losing North American operations. "This is a very challenging time, and these are very difficult decisions for the company," said GM spokesman Robert Herta. "It's all about aligning the work force with our business needs." GM said the cuts are part of a previously announced plan to reduce its U.S. white collar work force by 7 percent in 2006. The reduction affects both direct GM and contract employees. Many of the engineers whose jobs ar…
Last reply by razoredge, -
- 3 replies
- 1.4k views
Durakon Expands Application of Its Paint Film Technology With General Motors Durakon Expands Application of Its Paint Film Technology With General Motors LAPEER, Mich., Jan. 4 /PRNewswire/ -- Durakon Industries, a leading provider of thermoformed products and paint film technology to the automotive industry, announced today that General Motors will begin high volume application of the company's thermoformed paint film rocker panel. Over the past several years, Durakon has been a leading industry supplier focused on developing and introducing exterior automotive parts produced by combining thermoforming with paint film technology. Combining these techno…
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- 5 replies
- 1.8k views
"GM, Ford and Chrysler should see combined market share surge in December compared to dismal performances in recent months, consumer research firm Edmunds.com predicts. Collectively, the trio is expected to win nearly 58% of the market, compared to 53% in November and an all-time low 52% in October. " "Edmunds.com auto analyst Jesse Toprak said renewed demand for SUVs came from falling gas prices and the kind of icy road conditions that inspire a demand for four-wheel-drive vehicles. SUV sales and nationally advertised incentives as large as $4,500 could help GM." Lowered gas prices, consumers' demand for 4X4 to combat winter weather, …
Last reply by ftmjohn, -
- 5 replies
- 1.4k views
Canadian Driver December 23, 2005 Mismatched couple win 2006 Chevrolet Malibu Maxx Montreal, Quebec – Six foot six inch (198 cm) Justin Boudrias and four foot four inch (131.5 cm) Jung Song of Montreal received the keys to a 2006 Chevrolet Malibu Maxx after winning the ‘Malibu Maxx Long and Short of It Contest', which sought out the Canadian driving twosome with the greatest height differential. "When it comes to people who share a vehicle, a height differential shouldn't mean discomfort in the vehicle compartment," said Janice Dickey of GM Canada. "The Chevrolet Malibu Maxx is a car designed for those who are truly tall or small, and Mr. Bo…
Last reply by BlkHhr104, -
- 14 replies
- 2.3k views
The Suzuki P.X. Minivan Concept. Doesn't that dash look like a certain General Motors sports car in '66.
Last reply by Satty, -
- 37 replies
- 5.8k views
CNN this morning says Toyota up's sales goals to 9.06 million vehicles for '06. GM is set at 9.08 million. Will they stay ahead?
Last reply by thegriffon, -
- 1 follower
- 10 replies
- 2.6k views
http://www.autoweek.com/news.cms?newsId=103810 Some news everyone saw coming-apparently the CEO thinks Isuzu has a chance-I'm not even sure what the point is anymore.
Last reply by Hudson, -
- 1 follower
- 23 replies
- 4.6k views
http://times.hankooki.com/lpage/biz/200509...19503011880.htm
Last reply by Newbiewar, -
- 11 replies
- 1.6k views
Most Americans will not buy from bankrupt automaker-survey DETROIT, Dec 28 (Reuters) Almost three of every four American consumers polled would not buy a car from a manufacturer that had declared bankruptcy, according to arecent survey, giving struggling U.S. automaker General MotorsCorp. <GM.N> something else to think about. Seventy-four percent of respondents said they would not purchase or lease a new car from a bankrupt automaker, according to a survey released by Cincinnati-based research firm Directions Research Inc. Twenty-six percent said they would buy from a manufacturer in that position. GM executives have denied speculation they would seek Chapter 1…
Last reply by enzl, -
2005 Marks Watershed Year for OnStar
by Guest Josh- 12 replies
- 2.2k views
*Subscriber base approaches 4 million in 2005 *Technology Leadership Leads to Expanding Services and Growth DETROIT – Without much fanfare, OnStar by GM has answered the call of millions of drivers with the simple push of the “Blue Button.” In the process, Onstar has become not only a key differentiator for GM cars and trucks, but a highly innovative company with far-reaching influence within the technology sector. With increased usage and strong acceptance, OnStar grew to nearly four million customers in 2005, capping a watershed year in the company’s ten-year history. By leveraging the experience, technology and resources of GM and a host of technology companies, O…
Last reply by VenSeattle, -
- 33 replies
- 4.5k views
Munster kids rev up GM Web site Students critique company approach, headed to Detroit BY SHARON PORTA Times Correspondent This story ran on nwitimes.com on Friday, December 16, 2005 12:31 AM CST MUNSTER | Most U.S. auto manufacturers n General Motors Corp. included n have had a difficult time appealing to and connecting with customers in the youth market. To help build a relationship among those elusive 18 to 24 year olds, GM has solicited the help of students from Munster High School. According to GM, this demographic group, which is expected to account for one in five vehicles purchased by 2010, has a greater acceptance of import vehicles because they think the qu…
Last reply by Petra, -
- 4 replies
- 1.3k views
I'm nearly stricken with tears at this beautiful and eloquent piece of writing. I highlighted some of the best parts. Ford and General Motors are Getting What They Deserve. By Editor (12/24/05) They have had over thirty-five years to figure out how to put quality in their products and still don't have a clue. (Explain to me how you "put quality" into a product. Horrible choice of wording.) Their attractive and flashy offerings often look very nice, but are poorly assembled and full of inferior quality components and parts. Once the word started to spread about the high quality of Japanese and recently some Korean models, the sales of Ameri…
Last reply by prototype66, -
- 2 replies
- 2.2k views
http://finanzen.net/news/news_detail.asp?NewsNr=360982
Last reply by Newbiewar, -
GM Recalling 553,000 Additional SUV's
by Guest Josh- 6 replies
- 2.3k views
DETROIT (AP) - General Motors Corp. is expanding a recall of sport utility vehicles and pickup trucks with possible antilock brake corrosion to include another 553,000 vehicles in six states and the District of Columbia. The recall involves the 1999-2002 model years of the Chevrolet Avalanche, Chevrolet Silverado, Chevrolet Tahoe, Chevrolet Suburban, GMC Sierra, GMC Yukon and GMC Yukon XL. GM said in August that it was recalling about 800,000 of the vehicles in 14 northern states, including Michigan. GM spokesman Alan Adler said Friday the recall will be expanded to include Delaware, Iowa, Maryland, Minnesota, Missouri, Wisconsin and the District of Columbia. Roa…
Last reply by BigPontiac, -
- 12 replies
- 2.4k views
http://money.cnn.com/2005/12/21/news/fortune500/gm. Link might not work so I cut and post the story. sorry Another sobering article about GM's financial problem. It seems like some analysts are speculating about removing GM from the respected DOW JONES stock index. How bad would that be for GM ? NEW YORK (CNNMoney.com) - Does General Motors still belong in the exclusive Dow club? The troubled automaker, whose stock has lost more than 50 percent in value this year, has cost the Dow about 160 points. Without GM, the index would be up more than 2 percent; instead, it's up less than 1 percent. GM's percentage decline is more than twice that of th…
Last reply by FUTURE_OF_GM, -
- 19 replies
- 2.6k views
......
Last reply by CARBIZ, -
- 1 reply
- 1k views
FOR RELEASE: 2005-12-22 A GM Success Story Thanks to GM's bilingual sales jobs program, Chicago-area resident enhances his career and fulfills his dream of taking his family on a Hawaiian vacation CHICAGO – Luis Villarrubia, who works as a sales consultant at Apple Chevrolet in Tinley Park, Ill., participated in the GM B.E.S.T. (Bilingual Employment Sales Training) jobs program in Chicago in May of 2005. The B.E.S.T. program is designed to help GM dealers attract, recruit, train and coach bilingual professionals for a long-term sales career in the automotive industry. This multi-dimensional program was introduced by GM to its dealers as a solution to the challe…
Last reply by Polish_Kris, -
- 9 replies
- 1.5k views
This is a good article, accually i only read the first part, but i need to go to work... MSN's Tech and Gadgets [quote name='http://msn-cnet.com.com/Technology+to+Detroits+rescue/2010-11389_3-5992268.html?part=msn-cnet&subj=ns_5992268&tag=mobile']Technology to Detroit's rescue? December 13, 2005, 4:00 AM PT By Brian Cooley On top of all the arcane business problems they face, General Motors and Ford Motor also suffer from boring cars. Factor out Cadillacs, F-Series trucks, Corvettes and Mustangs, and Detroit is handing us uninteresting vehicles. What could make their cars more interesting? More horsepower? N…
Last reply by Paolino, -
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by Chris_Doane-
- Editor-in-Chief
- 1 follower
- 16 replies
- 2.2k views
....
Last reply by Hogans_Heroes, -
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GM Shares Fall Amid Drop in Market Share
by Guest Josh- 9 replies
- 1.8k views
NEW YORK (AP) - General Motors Corp. shares dropped to their lowest point in more than 15 years Tuesday after a report showed it losing market share to Asian automakers in December and Toyota threatened to at least match GM's production next year. GM also recalled more than 400,000 vans on Tuesday because of faulty seat belts. Burnham Securities analyst David Healy suggested the stock's decline -- nearly 4 percent in afternoon trading -- was more likely tied to general pessimism about the automaker's future than any of the day's announcements. The company's shares were down 75 cents, or 3.6 percent, at $20.30 in afternoon trading on the N…
Last reply by Newbiewar, -
- 1 follower
- 23 replies
- 3.1k views
http://www.npr.org/templates/story/story.php?storyId=5058950 http://www.npr.org/templates/story/story.php?storyId=5058950 Listen do not read the transcript because of lost detail. Links at the bottom were good as well. Avg age of worker 49yo 30years senority. http://www.npr.org/templates/story/story.php?storyId=5021604
Last reply by evok, -
- 19 replies
- 2.6k views
[quote name='http://news.moneycentral.msn.com/provider/providerarticle.asp?Feed=AP&Date=20051215&ID=5356748']DETROIT (AP) - General Motors Corp. has reportedly told its white-collar workers that it will suspend making matching contributions to their 401(k) retirement savings accounts and will reduce the severance benefits it pays. The world's biggest automaker is under pressure to cut costs as it lost $1.6 billion in the third quarter, and has seen erosion in its U.S. market share to Asian-based automakers. GM distributed an information packet Wednesday on the benefit changes for its 36,000 U.S. salaried employees, The Detroit News said in Thursday&…
Last reply by razoredge, -
- 3 replies
- 1.1k views
News GM says new SUVs will be value priced; discounts to be used on older products JAMIE LAREAU | Automotive News Posted Date: 12/19/05 DETROIT -- Despite General Motors’ rocky introduction of value pricing, the automaker will stick with it when it introduces redesigned full-sized SUVs in January. The question is: Can GM sell these vehicles without big rebates even as it offers generous incentives on older products? GM CEO Rick Wagoner says GM will continue to discount vehicles nearing the end of their life cycle. “We’ve positioned some prices down, others we haven’t as much,” Wagoner said in a Dec. 8 interview with Automotive News. “It is much easier, when you have a …
Last reply by SimonDavid, -
- 1 follower
- 24 replies
- 4.9k views
http://www.kansascity.com/mld/kansascity/n...al/13418638.htm
Last reply by Ghost Dog, -
- 145 replies
- 14.9k views
Jim Mateja asked some very direct questions of Wagoner for use in this article.... about his job, potential rivalry with Fritz, confidence of the board, etc. Pretty good read: http://www.chicagotribune.com/business/chi...hi-business-hed
Last reply by G. David Felt, -
- 1 follower
- 39 replies
- 4.3k views
Monday, December 12, 2005 John McCormick The case for hydrogen as an industry transformer Wondering where the automotive industry is headed? Spend time with General Motors Corp.'s research and development chief, Larry Burns and you will come away with a pretty good idea. I was fortunate enough to catch up with this far-sighted Detroit executive at a recent auto show. Our conversation ranged far and wide, from the ramifications of Hurricane Katrina, to the hegemony of the energy companies, to the major progress GM is making towards a commercially viable hydrogen fuel cell vehicle. Like any large automaker, GM is concerned about the effect on sales of higher fuel…
Last reply by Flybrian, -
- 32 replies
- 3.7k views
Rick Wagoner pretty much hits the nail on the head, there’s nothing to gain and everything to lose if Delphi strikes next year. While no one can be happy with the 60% pay cut for Delphi workers (there must be a better salary/benefit combo) and “Steve” Miller comes off as a pretentious ass, only fueling the UAW anger, change in the unions pay and benefit packages are inevitable. A strike by workers would put Delphi down for the count and GM up against the ropes and not change much for the hourly workers. I am not as confident as Wagoner is in this Detroit News piece about Delphi workers not striking, he may be underestimating workers that will be dropped to near poverty…
Last reply by razoredge, -
- 1 follower
- 2 replies
- 907 views
Chevy, Apple champion veteran, new acts in 2005 By Michael Paoletta NEW YORK (Billboard) - Chevrolet's two-year-old musically charged "An American Revolution" campaign took on added urgency in 2005, thanks to savvy music licenses and partnerships. The automaker embraced a wide variety of sounds in its TV spots, encompassing veteran artists and under-the-radar acts. Surprisingly, it replaced Bob Seger's "Like a Rock," which was the soundtrack for the Silverado campaign for 14 years, with "Now More Than Ever," a 14-year-old track from John Mellencamp. Elsewhere, Chevy championed dance/electronic (the Scumfrog's "Music Re…
Last reply by w00t_man, -
- 1 follower
- 15 replies
- 1.8k views
News Lease guide forecasts high residual value for Pontiac Solstice ARLENA SAWYERS | Automotive News Posted Date: 12/16/05 The Pontiac Solstice will keep its value better than any other new 2006 domestic-brand vehicle, Automotive Lease Guide predicts. The guide, which sets residual value standards for the industry, predicts the Solstice will hold 54.0 percent of its sticker price after three years. The roadster has a base price of $19,995, including shipping. Among domestic vehicles, the Solstice is second only to the 2006 Dodge Viper. The guide projects the Viper to retain 60.0 percent of its sticker price after three years. A residual value of more than 50 perc…
Last reply by haypops, -
- 1 reply
- 853 views
FEDS praise fuel-friendly GMs (Source Sun Newspaper) OSHAWA, Ont. (CNW) - Natural Resources Canada's Office of Energy Efficiency has awarded GM three 2006 EnerGuide Awards for the most fuel-efficient new vehicles in the large van and station wagon categories. This year, the Chevrolet Express Cargo, GMC Savana Cargo and Pontiac Vibe received EnerGuide Awards. To date, GM has won more EnerGuide awards than any other automotive company. Throughout the lifespan of the progam, GM has won more than double the EnerGuide awards than the nearest competitor. "We're proud to be designing and building a broad protfolio of industry-leading fuel-efficient vehicles,&q…
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- 3 replies
- 958 views
Friday, December 16, 2005 Tahoe GM gets earlier start on '07 SUVs Automaker cites new engineering approach as it begins output weeks sooner than predicted. Brett Clanton / The Detroit News DETROIT-- General Motors Corp. has begun producing a new lineup of full-size SUVs earlier than expected after saying last spring it would speed up the program to help restore profits and boost lagging sales. The automaker started producing the 2007 Chevrolet Tahoe, GMC Yukon and Cadillac Escalade in the last week of November, one week ahead of an already accelerated timetable aimed to begin output five weeks early. Gary White, GM vice president over full-size trucks, said t…
Last reply by Newbiewar, -
- 9 replies
- 1.3k views
Link to news [quote name='http://media.gm.com/servlet/GatewayServlet?target=http://image.emerald.gm.com/gmnews/viewmonthlyreleasedetail.do?domain=74&docid=21472']Chevrolet Taps New Year's Eve/Times Square To Launch All New 2007 Chevy Tahoe The revolution races on with introduction of all new Chevy Tahoe, signaling Chevrolet's continued barrage of new products in '06 Groundbreaking partnership with NYC, Countdown Entertainment and Times Square Alliance gives Chevrolet unprecedented presence in Times Square, including all new custom Chevy stage Major sponsor of "NBC's New Year's Eve With Carson Daly, Presented by Chevrolet" fea…
Last reply by Northstar, -
GM bankruptcy isn't ‘far-fetched’, S&P says
by Guest Josh- 13 replies
- 1.9k views
Comments follow downgrade sending ratings deeper into junk territory NEW YORK - A bankruptcy by General Motors Corp. is not "far-fetched" if present trends at the company persist, Standard & Poor's said Monday, shortly after cutting world's largest automaker's ratings deeper into junk territory. The downgrade and S&P's comments initially sent GM shares and bonds lower as investors fretted about the rising risk that the company will have trouble repaying its debt. "In the past, we might have felt at different points that the concerns about bankruptcy risk were way overplayed," said Scott Sprinzen, speaking on a conferenc…
Last reply by Newbiewar, -
- 1 follower
- 39 replies
- 4.9k views
Let me make this clear, this is not a rumor, nor is it speculation (well, maybe just a tiny bit), it is a suggestion to GM. If it makes sense to you, and you like these product suggestions then you may want to lobby GM, directly and through your local Pontiac dealer. Timing for the next major overhaul of the G6 puts it beyond the introduction of Epsilon II, and the current program may be cancelled to ensure strict adherence to the new Global platform. At the same time volume for the V8 GTO has not been high, and the new Holden coupe may diverge from NA requirements. What to do? As the G6 is currently built in a seperate plant to other NA Epsilon models (Malibu and A…
Last reply by Mule Bakersdozen LS, -
GM Now Right In The Middle Of Delphi Bankruptcy
by Guest Josh- 5 replies
- 1.4k views
DETROIT (AP) - The United Auto Workers union isn't negotiating with auto supplier Delphi Corp. but began talking with General Motors Corp. two weeks ago about a possible deal that could avert a strike at Delphi, the UAW's top GM negotiator said Tuesday. UAW vice-president Richard Shoemaker said Delphi has only talked to the union twice since it filed for bankruptcy in October, when it gave the union two different wage proposals. The UAW rejected both proposals, which would have cut production workers'wages from $27 US an hour to $12.50 US an hour or lower. Shoemaker said the UAW hasn't offered its own wage proposal. "Their proposal, th…
Last reply by Cremazie,
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