GM CEO Rick Wagoner and Reality Announce Divorce

gm ceo rick wagoner and reality announce divorce

Bob Lutz better watch out; his boss is challenging him for the title of Most Delusional Person on Earth. After the Olympic Games' opening ceremonies, Rick Wagoner told Financial Times, "I would say, from an assembly perspective [the pain] is largely behind us." And even though GM has had to cut large chunks of their workforce, is losing market share on an almost daily basis and flushed $15.5b down the toilet last quarter, he feels they're in "a pretty good position." Since the interview was in China, the discussion turned to their Chinese operations. "This has been miracle story from our perspective. For me it's the replay of the US auto industry in the 50s, 60s, 70s, but the upside potential is dramatically greater." Correct me if I'm wrong, but aren't those the decades when GM began, advanced and perfected the brand dilution and model overlap that brought them to the point they are today? And when someone pointed out that analysts expect sales growth in China to slow drastically this year, he didn't care. "That's not something we are losing sleep over." Of course, with the golden parachute he has strapped to his back, he probably doesn't loose any sleep over very much of anything. His private little world must truly be a wonderful place to live in.

Comments
Join the conversation
4 of 23 comments
  • Nevets248 Nevets248 on Aug 13, 2008

    Gotta love that GM brand Kool Aid-look how refined it is after aging for 30+ years.

  • J.on J.on on Aug 13, 2008

    Not that I’m advocating the idea, but just imagine if we went back to the same model of leader successes western civilization used to use 2000 years ago: succeed and you are rewarded; fail and you are executed. Just imagine how much more responsibility Wagoner would actually take if he had a clause in his contract that if he failed miserably he would be shot in the head (of course if he did well, he could keep his golden parachute).

  • Captain Tungsten Captain Tungsten on Aug 13, 2008

    Red/Kix: Sure, kids remember traumatic experiences for a long time, i certainly understand that. I also understand that they don't figure out who or what to blame on their own. They have to be told that. Parts falling off the car? To a 7 year old, that could easily be a fun new game to play with the car.

  • KixStart KixStart on Aug 13, 2008

    Captain Tungsten, Right. I getcha. The burden is on me to make Rick Wagoner's numbers. Memo to self, In order to protect Detroit's market share and ensure my kids buy Detroiters, avoid discussing vehicle repair history at the dinner table, even after the Visa bill comes in. Never tell them why we can't afford something. Also, remember to avoid reminiscing about certain trips involving unexpected overnights in out-of-the-way places we hadn't intended to visit. Absolutely do not discuss why these overnights occurred. --- OK... Captain Tungsten, here's my real response to your 12:22, without the sarcasm... Get a clue. I don't know how bright your kids are but mine are bright enough to figure out which cars are giving us trouble and which are not without my help. Detroit has raised a generation of Toyota loyalists in my house. "Fun new game to play with the car..." Are you trying to provoke those you think have a bias against Detroit into remarks that will get them banned? In '03, Lutz proclaimed that GM was just as good as anybody, quality-wise. I've reviewed CR... Lutz was wrong. In the interim, they've spent quite a lot of money on things that are stupid. They could have just built a better car or been better prepared for inevitable higher gas prices (did they think the cars they were building in China would never get driven?) or an economic downturn or other "headwinds." Wagoner and Lutz should go.

Next