By on December 15, 2009

No eye contact? (courtesy:detnews)

GM Chairman and CEO Ed Whitacre has made his first real media availability today, answering questions on a number of issues including the deal that sent control of GM’s most important Chinese joint venture to its partner, SAIC. According to Whitacre, the deal was put in place by former CEO Fritz Henderson. “It was sort of done before I got here,” Whitacre tells Reuters. Not to worry though, Whitacre has met with his counterpart at SAIC and was assured that “the nature of the partnership would not change.” Meanwhile, Gasgoo all but confirms that the rationale behind the deal is competition in India’s small-car sweepstakes, as a $3,500 sub-Spark model is apparently being planned to compliment the GM-SAIC-Wuling commercial vans that will spearhead the effort. Given how crowded India’s small car market is shaping up to be, it’s interesting that Whitacre didn’t cancel the agreement as he did with Henderson’s deal to sell Opel to Magna. And as for Henderson’s departure? “There was just a common agreement that what you want to do is not what I want to do,” says Whitacre.

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5 Comments on “Whitacre: GM-SAIC Deal Was Henderson’s Idea...”


  • avatar
    educatordan

    Given how crowded India’s small car market is shaping up to be, it’s interesting that Whitacre didn’t cancel the agreement as he did with Henderson’s deal to sell Opel to Magna.

    Exactally, shouldn’t this be filed under WTF?  Whiskey Tango Foxtrot indeed. 

  • avatar
    rnc

    Perhaps he is saying that it is henderson’s idea (b/c msm immediatly jumped all over it), but in reality he knows it was a sound business decision and left it alone (as opposed to the sale of Opel)

  • avatar
    tparkit

    “…it’s interesting that Whitacre didn’t cancel the agreement as he did with Henderson’s deal to sell Opel to Magna.”

    If you believe GM chose to cancel the Opel deal, then the US government has some financial swampland in Europe’ ultracompetitive car marketplace to sell to you.

  • avatar
    DetroitsaRiot

    Way to shift the blame Eddie!


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