Wagoner interview with MT

[rkmdogs]

Anybody read the interview that Motor Trend published on p.90 of their

June 2006 issue?

They spell it out in no uncertain terms. He is throwing in the towel on the US

market, hoping to just tread water, and pinning all his future hopes on GM

salvation in China!

That's why we are getting 2nd-class, ho-hum models, 'cause he wants to push

the brand in China and make lotsa moolah!

Although he cut his pay in half, it still is $1.1 MILLION dollars! And what about the rest of the management tier?

The burden of 2.5 retirees per each US employee, with full benefits won't go away with a switch to a different money market. If the thinking is that China is their star market, how long do you think it will take for the Chinese government to throw up some new road-blocks to keep GM from taking profits out of the country?

And then how will that fix the situation over here, that he did not create,

but sure-as-hell is not trying to solve for the good of American workers!

When the company(Wagoner) brags about half of the companies profits coming

from outside the USA, everybody should get down and kiss NAFTA! -- right after they file for unemployment! The idea of make'm there and sell'um here doesn't work when your prospective customers are unemployed.

Edited April 29, 2006 by rkmdogs

[Snate]

Doesn't surprise me. The chinese market has much more growth potential than here.

[Mr.Krinkle]

i heard wagoner in another interview say that basically the profit from china was going to be used to support parts of the turnaround here.

cant get blood from a stone...so why the hell not.

this meeting with pres bush the other day must have something to do with this whole mess. how often fo people meet with the president of the united states when it doesnt concern bizness...

i d wager therell be some new news about this within the next year or so...maybe sooner. it may have only simply been about new gas mileage quotas...who the hell knows.

[Northstar]

Well, if you don't want them to make any money in China then I guess you can kiss GM goodby, because last time I checked they haven't made money in North America in a long time. And I don't think $1.1 million is very much for everything he does; he arrives every morning between 6:45 and 7:00 AM and leaves around 8:00 PM. That's a long work day involving lots of stress and hard decesions.

I read the interview and it definetly did not sound like he was throwing in the towel. He was actually optimistic about what they were doing here.

[ellives]

Hell no. It's a paltry sum of money given his responsibilities. Look at the chairman of ExxonMobil who made almost a BILLION (that's a B not an M) over the last ten years. Taking that pay shows to me how much he believes in GM.

Well, if you don't want them to make any money in China then I guess you can kiss GM goodby, because last time I checked they haven't made money in North America in a long time. And I don't think $1.1 million is very much for everything he does; he arrives every morning between 6:45 and 7:00 AM and leaves around 8:00 PM. That's a long work day involving lots of stress and hard decesions.

I read the interview and it definetly did not sound like he was throwing in the towel. He was actually optimistic about what they were doing here.

[Mr.Krinkle]

theres no sum of money in the world to make up for that stress.

look at pictures of presidents when they first take office then look again 4 or 8 years later. the amount of aging that takes place so clear.

a lot of responsibility and sleepless nights abound.

[Guest buickman]

Given his track record, it's not likely he'd make that kind of money anywhere else.

Buickman

[CSpec]

$1.1M is menial for a CEO of a large corporation.

And back to this business of "no one being left to buy GM cars produced in China", that's just bogus. Sure, some people in Detroit will lose their jobs and grumble a lot, but on average the cheaper vehicles make Americans richer.

[capriceman]

what if GM actuly owned Geely and using it to make major profits? If not they should make a company under the wire and make no connection to GM and sell it there and here. Cheap labor and anti-american buyers! so a win win?

[rkmdogs]

$1.1M is menial for a CEO of a large corporation.

And back to this business of "no one being left to buy GM cars produced in China", that's just bogus. Sure, some people in Detroit will lose their jobs and grumble a lot, but on average the cheaper vehicles make Americans richer.

Hello! Wake Up!!

When was the last time you looked at the Trade Balance deficit? Those are not egg-rolls that are being sent to china or Japan ----- they are good ol' U.S. dollars!

AND about his REDUCED salary ---- what is the salary ratio of other CEO's to their

hourly employees?

It is no where near what this mogul makes! And Exxon is no example to hold up,

unless you are demonstrating greed & rape!

[Charger4U]

yea i read it, i hate china

[Sixty8panther]

Disturbing.

[turbo200]

not at all disturbing. the nature of globalization. unfortunately, for americans, costs are not competitive, in AMerica, with other American workers, so union American workers must lose thier jobs until the balance exists. china is just another market the company is doing well in. to that, i salute.

[FUTURE_OF_GM]

The U.S. should be second....

If people are going to be DUMB enough to not give GM a chance at a sale then GM should focus on where it can make more money.

END OF STORY

Besides, chances are that China will surpass us as the world superpower soon anyway. And I think we all know that america is going downhill in every aspect, including SPENDING POWER.

[capriceman]

all i have to say is a have swiming trunks and I can sing "O Canada, O Canada......." i agree the U.S. gets weaker by the day.

[Sixty8panther]

See... and the Chinese don't even drink Kool-Aid. :wink:

[sciguy_0504]

China won't last without democracy. Guaranteed.