• Apr 10, 2006

Rick Wagoner, embattled head of General Motors, appeared on CBS's "Face the Nation" Sunday morning news program, and confessed that GM is stockpiling parts and complete vehicles in an attempt to protect the automaker in case its spin-off supplier Delphi decides to strike. Indeed, this comes as little surprise to those who have noted the unusually large discrepancy between GM first-quarter sales and production figures. Wagoner admits that the strike bank won't do much, if anything, to keep GM running if indeed Delphi's workers stage a walkout.

In the meantime, word is that Wagoner would have stepped down as CEO had he not received the vote of confidence from GM's board last Monday.

[Source: The Detroit News]



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    • 1 Second Ago
  • 5 Comments
      • 8 Years Ago
      "In the meantime, word is that Wagoner would have stepped down as CEO had he not received the vote of confidence from GM's board last Monday."

      Uh, isn't that stretching it a little..... Funny how the term "word is" is always used when no evidence is present.
      • 8 Years Ago
      Corey, I provided a link - did you at least check it out before posting your comment?
      • 8 Years Ago
      Let's see, the "vote of confidence" in sports usually happens just before the manager or coach is fired! I guess if I were Wagoner I would be looking around a bit.
      • 8 Years Ago
      Eric,
      Yes, I did check the link, but it didn't indicate Wagoner was going to step down whether the board gave their vote of confidence or not.
      There's so much media speculation, rumors...etc. Unless it's a from an interview or official GM press release, it just more speculation.
      Now I'm not saying there's no tension, boards of healthy companies rarely have to put out a "vote of confidence" for their management. IMO, between the lines they're saying, there's no plans to alter the relationship Wagoner has with GM, and we're not happy with the speed of the turnaround, but we have "conditional" faith in Wagoner to complete what he started.
      • 8 Years Ago
      Let's see, the "vote of confidence" in sports usually happens just before the manager or coach is fired! I guess if I were Wagoner I would be looking around a bit.