Autoblog

Chicago 2009: Hyundai CEO Krafcik calls on auto industry to set example with reform

Sam Abuelsamid — Thu, 12 Feb 2009 10:59:00 EST

Hyundai America CEO John Krafcik delivered a keynote address at the opening of the Chicago Auto Show media preview where he called on the industry to dramatically change the way it does business. According to Krafcik, for decades, extravagance has been the name of the game in the car biz - just as it has been in most of corporate America. In the past six months, however, things have started to change, with automakers cutting back on the overblown productions at auto show press conferences and in many cases eliminated such conferences altogether. But Krafcik doesn't think the swing has gone far enough.

That's just one small part of the problem, though. Krafcik acknowledged that the industry as a whole is seen as slow and unresponsive as well as wasteful. He called on voluntary limits to executive compensation that are tied to some multiple of what the average worker gets paid. "What if our industry was the first to exercise a more inclusive form of capitalism that voluntarily restrained executive compensation to a reasonable multiple of average employee salary? And what if our industry adopted a uniform code of conduct regarding gifts, meals and business entertainment?"

Krakcik wants his industry to be more modest and humble. Instead of fighting everything that needs to be done, he believes the auto industry must take the lead in re-shaping corporate America.

[Source: Automotive News - sub. req'd]

Chicago 2009: Hyundai CEO Krafcik calls on auto industry to set example with reform originally appeared on Autoblog on Thu, 12 Feb 2009 10:59:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments

GM scraps LA Auto Show press conference

Sam Abuelsamid — Tue, 11 Nov 2008 13:31:00 EST

Filed under: LA Auto Show, GM

General Motors' ongoing financial problems mean that the company Gulfstream won't be shuttling executives to the LA Auto Show next week. After canceling plans to unveil the new Buick LaCrosse and the production version of the Cadillac CTS coupe, it became clear that there really wasn't anything else to discuss in LA. As a result, there won't be a GM press conference at the show.

GM spokesman Scott Fosgard told the Detroit News that with all the bad financial news and discussions about a bailout, any product news would simply get lost in the shuffle. Instead, GM will still show the Saab 9-X Air concept from the Paris Motor Show along with the production version of the Chevy Volt.

Now, two questions remain: 1) Will GM last long enough to make it to the Detroit Auto Show in January, and 2) Why are they spending cash on a driving "experience" at the Alabama "International" Auto Show?

[Source: Detroit News]

Continue reading GM scraps LA Auto Show press conference

GM scraps LA Auto Show press conference originally appeared on Autoblog on Tue, 11 Nov 2008 13:31:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments

GM's Wagoner to elaborate on business plan tomorrow

Alex Nunez — Mon, 14 Jul 2008 17:27:00 EST

Filed under: Etc., GM

General Motors honcho, Rick Wagoner, is holding a 9AM (EST) news conference tomorrow at which he will make an announcement (or announcements?) on what changes the automaker will make as it adjusts to current market conditions. GM's press release has no details beyond that. So, what are we going to hear? The fact that GM is being so nebulous leads us to believe that this will be a significant announcement. Is a brand getting killed? Could we hear of a particular vehicle line getting scrapped? Are there going to be more closings? Will we hear that something new is getting greenlit, like the Chevy Beat? This should be very interesting, and we'll have the news for you tomorrow as soon as it happens.

So, what do you think the big presser's about? Weigh in below and see how right (or wrong) you are tomorrow.

[Source: GM]

GM's Wagoner to elaborate on business plan tomorrow originally appeared on Autoblog on Mon, 14 Jul 2008 17:27:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Environmental protesters crash Rick Wagoner's keynote

John Neff — Wed, 29 Nov 2006 15:13:00 EST

Filed under: LA Auto Show, Green, Videos, GM

The 2006 L.A. Auto Show had only been officially open to the press for an hour before all hell broke loose at the show's keynote speech given by General Motors CEO, Rick Wagoner. Despite GM's laundry list of green related announcements and reveals this morning, two protestors from Global Exchange stormed the stage during his speech and demanded he sign a big cardboard contract that said the following:

I (RICK WAGONER) CEO of General Motors hereby pledge to make GM the most efficient automotive company in the industry by 2010.

According to Chris Paukert at Winding Road, Wagoner's response was that his speech commited General Motors to that very thing. Other reports say that after the initial stun of seeing people on stage who weren't supposed to be there, Wagoner was smooth and handled the hiccup with grace.

The video above shows the one of the protestors, Mike Hudema, having a healthy debate with Don Fuller from MAWG who also contributes to Kelley Blue Book. Hudema started the discussion by claiming that GM should not have "killed the electric car" because there was a demand for it. Fuller disagrees... repeatedly, over and over again.

[Source: Winding Road]

Environmental protesters crash Rick Wagoner's keynote originally appeared on Autoblog on Wed, 29 Nov 2006 15:13:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments