Rick Wagoner Lays It All Out

[longtooth]

Just snagged this from the GM Yahoo Financial site.

I'd like to read everyone's take at your convenience. Go GM...

http://www.reuters.com/article/marketsNews...lBrandChannel=0

Adding this link: http://biz.yahoo.com/minyanville/080708/20...gs_id.html?.v=1

The article is entitled "Bureaucratic Gasbags Little Help To Global Warming".

It is in regard to California's new scheme to 'rate' vehicles. California: the State Bird is Soot. State Flower is scorched earth. Yes, California, State perpetually aflame.

Edited July 8, 2008 by longtooth

[enzl]

What does that email state that hasn't already been released officially?

He's telling the Titanic's band to continue to play...if he makes it past the new year as CEO, GM is toast.

[siegen]

Text of e-mail from GM CEO to managers media

Corrected.

[ZL-1]

Corrected.

hehe, I agree with you. That thing has a 'Hollywood-movie-hero's-speech-before-the-grand-finale' vibe.

[CARBIZ]

I sense RW is growing increasingly frustrated (as are all the managers I have spoken with) about the swirling mass of negativity in the media. There are literally a dozen fuel efficent models in the works, some (Aveo/hybrid Tahoe) in production now, while others are being fastracked, yet the media holds GM up as an example of 'old school' thinking at every turn. This sudden spike in gas prices was not seen by anyone. Most thought we'd be around $100 a barrel now. Hell, even the Camaro is being fried in the media before it arrives, but with a 2.0 turbo, that car would be a rubber burner AND fuel efficient!

Franky, as a consumer, I'd be pissed to know that the Japanese government paid for the Toyota hybrid. You'd t think the clowns at the WSJ and other places would be, too, yet they are all too busy printing news of GM's bankruptcy.

[longtooth]

I sense RW is growing increasingly frustrated (as are all the managers I have spoken with) about the swirling mass of negativity in the media. There are literally a dozen fuel efficent models in the works, some (Aveo/hybrid Tahoe) in production now, while others are being fastracked, yet the media holds GM up as an example of 'old school' thinking at every turn. This sudden spike in gas prices was not seen by anyone. Most thought we'd be around $100 a barrel now. Hell, even the Camaro is being fried in the media before it arrives, but with a 2.0 turbo, that car would be a rubber burner AND fuel efficient!

Franky, as a consumer, I'd be pissed to know that the Japanese government paid for the Toyota hybrid. You'd t think the clowns at the WSJ and other places would be, too, yet they are all too busy printing news of GM's bankruptcy.

And locally (here in the US) Hillary Clinton was vilified for alleging a vast Right-Wing conspiracy against her and President Clinton. Somewhat apples n' oranges, however someone having the attention and the ear of the media has a mega-boner for GM. Maybe a network of scorned vendors, dealers or whatnot. But it is almost tangible.

[CARBIZ]

And locally (here in the US) Hillary Clinton was vilified for alleging a vast Right-Wing conspiracy against her and President Clinton. Somewhat apples n' oranges, however someone having the attention and the ear of the media has a mega-boner for GM. Maybe a network of scorned vendors, dealers or whatnot. But it is almost tangible.

Well, if I may as non citizen: it was clear to me from almost the beginning that the media, liberal or not, had decided they'd rather have a black President than a female one. Dangerous, IMO, with all the hatred in the world.

[longtooth]

Well, if I may as non citizen: it was clear to me from almost the beginning that the media, liberal or not, had decided they'd rather have a black President than a female one. Dangerous, IMO, with all the hatred in the world.

I appreciate your take on the matter. Additionally, during the 90's the Clintons were hounded here. There's their questionable backing of NAFTA to consider. I am digressing into the realm of politics and though all elements of our society(s) intertwine in business the supporters from both sides are strident in their positions. I just hope that a sane energy policy emerges from this turmoil ongoing presently.

[CSpec]

I sense RW is growing increasingly frustrated (as are all the managers I have spoken with) about the swirling mass of negativity in the media. There are literally a dozen fuel efficent models in the works, some (Aveo/hybrid Tahoe) in production now, while others are being fastracked, yet the media holds GM up as an example of 'old school' thinking at every turn. This sudden spike in gas prices was not seen by anyone. Most thought we'd be around $100 a barrel now. Hell, even the Camaro is being fried in the media before it arrives, but with a 2.0 turbo, that car would be a rubber burner AND fuel efficient!

Franky, as a consumer, I'd be pissed to know that the Japanese government paid for the Toyota hybrid. You'd t think the clowns at the WSJ and other places would be, too, yet they are all too busy printing news of GM's bankruptcy.

Do not think that GM is somehow alone here. Global Crossing was completely vilified by the media during its bankruptcy proceedings in 2002, and the CEO time and again expressed his frustration at the insistence of the media to portray the company in the most negative light possible. People worry more about companies going bust, as losses hurt more than gains help. The media plays into this logical fear, but the embattled companies sure don't appreciate it.

[enzl]

Or...the media is following the age-old maxim: "If it bleeds, it leads"

The fall from grace of one of the most powerful, wealthy companies in history makes quite a story, doesn't it?

RW should be frustrated with himself--he's presided over one of the hugest failures of any CEO in modern times...his name will be posted alongside other notables like Kenneth Lay as anti-examples in Biz texts for generations.

Blaming the media for the sh!tstorm completely hides RW's complicity in this debacle. It's a lame excuse--just one of dozens that GM's PR department has attempted to sell in the past few years. War in the Middle East=Gas price uncertainty--49% ownership of RESCAP means they had advance warning of the weakness in home mortgages--to state that these guys had no warning is to reinvent the past with no regard for the truth.