Any time Bob Lutz gets hired on for a gig putting pen to paper, we're for it. Case in hilarious point is this book review Lutz has penned for the readers of Forbes, wherein Maximum Bob gives good quote after good quote about Ed Whitacre's American Turnaround. Whitacre's book, you'll remember, focuses on the former General Motors CEO's time dealing with the aftermath of the automaker's bankruptcy.
It is probably best just to play this down the middle and let you read the excerpt from American Turnaround: Reinventing AT&T and GM and the Way We Do Business in the USA by Ed Whitacre. The author, you'll remember, was the former AT&T CEO who came out of retirement to take the position of chairman at General Motors in June of 2009. Six months later, he took the role of CEO, and on September 1, 2010 he was replaced by current CEO Dan Akerson and gave up the chairmanship at the end of tha
Former General Motors CEO Ed Whitacre has served up a few revelations about his time at the automaker in his new memoir, American Turnaround: Reinventing AT&T and GM and the Way We Do Business in the USA. Among the choice tidbits is word that in August of 2009, Whitacre says he blocked a plan that would have seen GM workers abandon their downtown Detroit Renaissance Center global headquarters just one week before the move was to be set in action. The whole operation was to be relocated to Wa
Former General Motors chairman and CEO Ed Whitacre is in the papers today, specifically the Opinion section of The Wall Street Journal, espousing a strong belief that the U.S. Treasury should get out of GM's hair as quickly as possible. Whitacre's sentiments come, no doubt, as a response to the recent news that GM has been pressuring the Treasury to sell off its remaining 500 million shares of the company's stock.
It was only last week when Reuters reported that Ed Whitacre, Jr. told the media that General Motors IPO shares would "likely to be priced between $20 and $25 in the initial public offering by the automaker in November." GM didn't respond immediately, but now, like a judge giving instructions to the jury to disregard a courtroom outburst, The General is essentially saying "ignore everything you just heard."
General Motors chairman Ed Whitacre is readying the world for GM's Initial Public Offering. The IPO is slated to happen next month and Whitacre has reportedly said that he expects shares to be priced between $20 and $25. That price will likely be achieved via a stock split, with sources saying GM plans to offer shares in a four-to-one split.
At this point, the only thing we know for sure about the General Motors initial public offering is that it will happen... eventually. With the United States government holding a 61-percent equity stake in the automaker, the political pressure is huge to make a stock sale occur sooner rather than later.
It pays to be an executive for General Motors. Actually, scratch that... it will soon pay to be an executive with General Motors, assuming that the automaker's upcoming Initial Public Offering takes place according to plan. According to our friends at TheDetroitBureau.com, a dozen top officials at the company could be looking at a payday totaling as much as $13 million or more, depending on the value of GM stock after the IPO.
A year after entering bankruptcy protection, the executive shuffling is still ongoing down at General Motors. The latest moves come in the wake of the creation of GM's new venture capital unit, which will be headed up by Jon Laukner, whose previous job was vice president in charge of product planning and program management.
If General Motors CEO Ed Whitacre has a personal soundtrack, perhaps it's anything by the group Attack! Attack! While the world waits for news of GM's first real profits, the company head is staking out a potentially huge acquisition, that being the auto financing arm of Ally Bank, which was once GMAC.
Wednesday was a busy day for General Motors CEO Ed Whitacre by anyone's definition. He started the day with a trip to The General's Fairfax plant in Kansas to tell the world that GM was paying off the remaining $5.8 billion in government loans five years ahead of schedule and to announce a $257 million investment for a pair of plants. After the announcement came a trip to Washington to meet with House Speaker Nancy Pelosi and the Michigan delegation from Congress.
We first heard that General Motors might add production of the next-generation Chevrolet Malibu to its Detroit-Hamtramck Assembly plant back in December, and that news has been confirmed today. GM Chairman Ed Whitacre held a press conference this morning at which he announced the automaker had paid back the remaining $5.8 billion owed to the U.S. and Canadian governments a full five years ahead of schedule. He made the announcement at the company's Fairfax plant in Kansas that currently builds t
When U.S. domestic automakers were commuting back and forth between Detroit and Washington while begging for government funds in the fall of 2008, a big deal was made of the fact that their CEOs were traveling in private jets instead of driving company vehicles. The backlash from JetGate was substantial, as each automaker quickly ended the use of expensive airfare for corporate travel and signed on with less pricey charter services. But while the private jet became taboo for auto executives, oth