By on August 13, 2010

Editor’s Note: GM’s outgoing Chairman/CEO Ed Whitacre sent the following email to GM’s senior executives today [via Detroit News]

My goal in coming to General Motors was to help restore profitability, build a strong market position and prepare this iconic company for success. While we have more to do, it is fair to say that GM is headed on that path. Our earnings for the last two quarters show that. Our strong sales show that. And the enthusiasm from everyone I meet at GM shows that.

We are on the right track. And I have complete confidence that Dan Akerson will keep us moving forward. Dan is committed to GM; he’s been a key player in the decisions our Board has made over the last year. He will do a great job, and deserves your complete support.

I have enjoyed my time as CEO of GM more than I can say, and I am pleased to stay on as Chairman through the end of the year. I am excited about this company, and I want you to know that it is the people of GM who make this a very special place. You are the best, and I truly appreciate all you do.

Thank you for the privilege of leading this great company. I am anxious to see the new heights that you will achieve as you continue focusing on designing, building and selling the world’s best vehicles.

Ed Whitacre

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33 Comments on “Ed Whitacre Emails The Troops...”


  • avatar
    cykickspy

    Thanks Ed for the turnaround!

    • 0 avatar
      mikey

      Personaly, I think Ed did a wonderfull job, and I wish he could of stayed on. But who knows what politcal preasures were put on the dude.

      I know I sleep better,with the knowledge that my pension check is a lot more secure now, than it was a year ago.

    • 0 avatar
      Pig_Iron

      @cykickspy

      Are you being ironic on purpose?

    • 0 avatar
      Monty

      @Mikey:

      I think that the true effects of Ed’s short time at the helm won’t be seen for a while. I would have said that your pension was rock solid if he had stayed for a few more years.

      As a fellow Canadian, and as the son of someone who’s very livelihood was directly related to the auto industry, I am really pulling for the General to turn it all around and become the dominant force they once were. (in case you’re wondering, my father spent the 60′s and 70′s selling hoists, airtools and compressors to GM in the ‘Shwa, Ford in Oakville and Chrysler in Windsor)

  • avatar
    GarbageMotorsCo.

    “prepare this iconic company”

    lol Ed, GM hasn’t been an “icon” in decades, merely a follower, a chaser and a leader of nothing.

    But way to keep the arrogance at GM going!

  • avatar
    MikeAR

    It’s not a turnaround yet. There is a lot left to be done before you can say GM is healthy and out of trouble.

    The Akerson guy, from what little I have read, appeaars to have failed upward pretty much throughout his career. Just about everywhere he has been was worse off after he was there. I’m not reassured at all by his appointment and by the way Whitacre was forced out. They have a lot to overcome with the Government Motors stigma and the likely failure of the ipo after it has been on the market for several months.

    • 0 avatar

      “Daniel F. Akerson is a Managing Director of The Carlyle Group and is the Head of Global Buyout. He serves on the firm’s Executive Committee and is based in Washington, DC.”
      http://www.carlyle.com/team/item5812.html

      Just a Wall Street scavenger.

  • avatar

    Fixed it for ya, Ed…

    “My goal in coming to General Motors was to help restore profitability, build a strong market position and prepare this iconic company for success [stop laughing, I\'m serious]. While [you] have more to do [since I\'m outta here like a fart in the wind], it is [highly optimistic] to say that GM is headed on that path. Our earnings for the last two quarters show that [with enough taxpayer cash, even the filthiest and most ragged sow\'s ear can look like a silk purse]. Our strong sales show that [rebates rule!] And the enthusiasm from everyone I meet at GM shows that [the Kool-Aid is flowing and is strong indeed -- hint, never end a sentence with \"that\".]

    “We are on the right track [until the next inevitable calamity to befall GM... and what\'s this \"we\" bullshit? See above, fart in the wind]. And I have complete confidence that Dan Akerson will keep us moving forward [as I retreat so as not to fall behind with you]. Dan is committed to GM [or at least should be committed somewhere]; he’s been a key player in the decisions our Board has made over the last year [he showed up at some of the meetings, on Barry\'s orders]. He will do a great job, and deserves your complete support [in other words, I respectfully ask our UAW masters that no one egg his Lexus].

    “I have enjoyed my time as CEO of GM more than I can say [without laughter and verbage inappropriate for a corporate memo], and I am pleased to stay on as Chairman through the end of the year [until I announce next month I\'m leaving earlier, cough, cough]. I am excited about this company [and even more excited to be getting away from it], and I want you to know that it is the people of GM who make this a very special place [well, you\'re all very \"special,\" anyway]. You are the best, and I truly appreciate all you do [to undermine this company].

    “Thank you for the privilege of leading this great company [and letting me leave]. I am anxious to see the new heights that you will achieve as you continue focusing on designing, building and selling the world’s best vehicles [man, that Kool-Aid stays in your system!]“

  • avatar
    Geo. Levecque

    Mikey doesn’t need to worry about his Pension, thanks to both the Ontario and Federal Government, they always support the workers at GM thru Cash support!

  • avatar

    On the bright side, if the IPO looks bad, the FED can always buy up the stock !

  • avatar
    werewolf34

    “Dear troops,

    I wish I never left San Antonio but I did. I got pushed out by the beancounters and now a private equity hachetman is going to squeeze you for costs and try to flip you for a profit.

    He might be right. Never underestimate the stupidity of the US consumer or investor.

    Hugs,
    Ed”

  • avatar
    Da Coyote

    Ed, we also know that you lied (in typical Obamaloon supporter fashion) about your tinkertoy company paying back the money you robbed from us.

    Take your Microsoft-quality junk and shove it up your Obama.

  • avatar
    gslippy

    No mention of the pending IPO glory. Hmmm.

  • avatar
    panzerfaust

    I am anxious as well to see the new heights that GM will achieve by focusing on rebates, resurrecting GMAC in another guise, selling re-badged Daewoos, molifying the UAW, and producing EV’s that no one really wants.

  • avatar
    chris724

    Hey, isn’t this the guy who invented of the “Akerson cycle”?

  • avatar
    AaronH

    This reads like a soviet-era release designed to placate the feeble-minded bratty gimme-gimme losers…err…Citizens.

    Did he kiss any UAW Parasites on his way out?

    The glorious GM Auto/Vodka/Condom/Tractor company is doing very well indeed…Now…Shut up and worship the State!

  • avatar
    mikey

    Does any body remember when TTAC used to be the home of “civilized” debate.

    The hate here is getting out of control.

    • 0 avatar

      Wow… so strong, healthy, and vocal dissenting opinion is now “hate.”

      So says the guy who posted this on another thread:

      “I believe you mentioned once, you worked as a superviser at GM Oshawa. Now you tell me you drove a non GM. Here is a little secret, oboy. Every blue collar,and your fellow white collars, were very aware of that fact. Perhaps that would explain your, “less than positive” experience working with us.”

      Tell me mikey, how is that not hateful?

    • 0 avatar
      mikey

      @Rob Finfrock…..Yes it is hateful,it was meant to be. As I said “the hate is getting out of control”

    • 0 avatar
      MikeAR

      Mikey, ever the union thug. It’s only hate when it comes from people who don’t agree with you. Guess what, there are lot more of us and we are sick of your sense of entitlement. The day will come when the UAW is broken and its bosses in jail. Then your kind will be working for what you’re worth, minimum wage. I can’t wait for that. If it wasn’t for the thuggish bunch in DC now that would have happened last year after the bankruptcy. That is one of reasons we will see another GM fail but this time with no bailout. Break the unions and keep the factories open with cars costing a lot less.

    • 0 avatar
      mikey

      Really, you can’t wait for that to happen? I mean, I can’t wait to win the lottery. Or maybe somebody finds a cure for cancer. How about erasing world hunger.

      But if your wish is for a half a million good jobs to be gone, I’m OK with that too.

      Have a nice day.

  • avatar

    when TTAC used to be the home of civilized…

    Ima love iconicry in the morning.

  • avatar
    mythicalprogrammer

    … So much hate. You do realize that if GM goes down then it’ll affect America’s economy right? I mean, I’m not really into GM but I am rooting for them and for GM workers.

    And bean counters are fine, Carlos Goshn is one sick bean counter (especially in the late 90s and early 2000s), and he managed to turn Nissan/Infiniti around.

    • 0 avatar

      The real question is, how much would it actually affect the US economy… and would that correction have necessarily been a bad thing?

      Would it have been the Doomsday scenario bandied about by the politicians and the unions… or, would we have seen an orderly, normal Chapter 11 bankruptcy, soon to be followed by a leveling-off period as healthier and more able companies snatched up the remnants worth saving, to go forth and prosper without the UAW noose around their necks?

      Don’t believe the Doomsday hype. It’s possible — some say likely — having GM and Chrysler fail two years ago would not have crippled our economy, not by a long shot. What it would have done is properly euthanize two decrepit automakers, and ditched dozens of unneeded models.

      And absolutely, it also would have shed thousands of jobs held by under-qualified, UAW-represented “workers.” See, I don’t think that would have been a bad thing. The UAW would be dead today, which would benefit every other automaker still standing. The more able workers would be forced to grudgingly find other work, albeit at their proper market value; the less able, not so much. Darwinism at its finest.

      Alas, we’ll never know what would have happened. All we do know is that $60+ billion has been thrown into the fire. Oh, and here’s the kicker: when it comes to economic matters, history shows us the short-term benefits of such interference will often be far outweighed by the long-term consequences.


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