Rick Wagoner: GM's Throwing in the Towel on the U.S. Market
GM's main man told Bloomberg that he expects 75 percent of The General's car and truck sales to come from outside the U.S. within a decade. Meanwhile, while GM's setting sales records in developing markets overseas, they're losing money at home. Lots of money. To his credit, Rabid Rick did touch on that small issue with Bloomberg. GM's CEO claimed his "plan" to end those losses is about "50 to 60 percent complete." WHAT PLAN? Has anyone seen this plan or is he, like Indiana Jones, making it up as he goes along? Which ever it is, Wagoner [finally] admits things aren't quite going as expected. "Maybe the actions are a little farther along, but the results I don't think are that far along." With Wagoner conceding defeat in North America, the results probably won't get much farther along, either. What's that sound? Why, it's Toyota, Honda and Nissan letting out a war whoop as they thunder down their American happy hunting ground.
What! jkross22 Rick and Bob are getting a bonus? If I see them in the plant I'm gonn'a give e'm a piece of my mind,and I ain't got'a whole lot to give. Its not been a positive day for GM at TTAC today or anywhere else for that matter. I,ve been reading every comment on all articles. The best ones gotta be "start the bilge pumps,water is flowing over the bow" excellant. Heres the problem,we sold the bilge pumps and the bailing cans. The Captain and his officers are getting thier life boats ready. Us guys staying with the ship are waiting for a miracle to save us.I,m thinking the board of directers,or shareholders or a mutiny the water up to my knees and we are listing.S.O.S.
I wonder if the workers could take the company back from the incompitent management like Harley Davidson. Probably impossible given the size, diversity and more importantly the feifdoms that are all over the place in the organization. That would also require investing more of your money and future for a huge risk.
Wagoner clearly believes GM's poor North American image for quality and integrity cannot be corrected in the foreseeable future.
The boyz at topspeed.com seem to be thinking the same thing as GS650G and RF, namely, GM will move its entire manufacturing base to East/Southeast Asia and export to the rest of the world. http://www.topspeed.com/cars/car-news/-gm-means-global-motors-ar50007.html It's possible that GM would delist off the NYSE and relist in some tax haven country like the Bahamas or Caymans. Save serious $$$$ on taxes. Change the name to Global Motors and off you go. Sales in NA down? No problem, just shut down a shift at a Chinese plant to bring production in line with sales. Politicians outlaw ICE? No problems, just stop selling cars there. With nothing in, say, the USA but sales and distribution, shutdown would be quick and easy. We may be seeing the plan come into focus....