Autoblog

Bob Lutz pokes fun at Ed Whitacre's GM memoir

Seyth Miersma — Mon, 04 Mar 2013 08:43:00 EST

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.

Lutz doesn't take long to call out as fallacy the notion that Whitacre had a lot to do with the turnaround. From the title of his editorial (How Ed Whitacre Saved GM In Just 10 Months, And Other Fables) onward, Lutz jabs at the notion of Whitacre' effectiveness. In one passage he characterizes the CEO's tenure as being filled with, "... wandering around uncovering employees who were insufficiently entrepreneurial, cautious or didn't have enough 'can-do' spirit."

But, if there's a paragraph that succinctly summarizes Lutz's 'respect' for Whitacre and his time as CEO, it's got to be this gem:

Ed's most notable contribution to design was a comment I recall at a Cadillac styling session. Professing to know nothing about cars (true), he nevertheless opined that Cadillacs had the look of "old-fashioned Choo-choo trains".

We digested that opaque bit of input and elected to stay with what we had.

Good stuff, Bob, we miss you man. Click through here to read the rest of Lutz's short, funny summary.

Bob Lutz pokes fun at Ed Whitacre's GM memoir originally appeared on Autoblog on Mon, 04 Mar 2013 08:43:00 EST. Please see our terms for use of feeds.

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American Turnaround

Dan Roth — Fri, 15 Feb 2013 18:01:00 EST

Filed under: Etc., Government/Legal, GM

Ed Whitacre's Postcard From The Auto Bailout

Ed Whitacre freely admits "I knew nothing about cars. Zero." Which made the out-of-the-blue phonecall from Steven Rattner all the more strange. But he does know management, and that's why Team Auto reached out, because General Motors management was all kinds of bad, and that needed to change now that taxpayer money was at stake.

In his memoir American Turnaround, Ed Whitacre gives his side of the reinvigoration of General Motors. It's another slice in the ongoing dissection of What Just Happened in the American auto business, and Whitacre sets up the story by asking, "How could I even consider taking the reins of a company whose business I knew nothing about?"

The book is written like a chat with Ed Whitacre himself; the words on the page almost twanging. The plain, direct language make the 271 pages of American Turnaround go quickly. The book was released February 12th, and as with any memoir, be sure to pick up a few grains of salt or look into some other perspectives so you can form your own opinions about the history that's now being written down.

There will be critics who write off American Turnaround as a vanity piece written by a typical big-business type adept at tooting his own horn. A memoir by its very nature is going to be filled with a lot of I, Me, Mine, and the inherent inertia in the car business will see Whitacre accused of trying to take credit for things set in motion by the leadership he kicked out. The criticisms might be missing the point, or worse, misinterpreting. Whitacre didn't swashbuckle in like, say, Bob Lutz, brimming with ideas about product development. Instead, he came in and looked at the way the business of GM was run, and according to his account, it wasn't firing on all cylinders. That seems to square with other reports, regardless of what you believe caused it.

Continue reading American Turnaround

American Turnaround originally appeared on Autoblog on Fri, 15 Feb 2013 18:01:00 EST. Please see our terms for use of feeds.

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Read an excerpt from Whitacre's book about how he fired Henderson and why Akerson got the job

Jonathon Ramsey — Thu, 24 Jan 2013 15:45:00 EST

Filed under: Etc., GM

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 that year.

To read the excerpt, you're going to have to get past the Fortune headline "How Ed Whitacre brought GM back from the brink." Now, Whitacre didn't choose that headline, and since we're playing this down the middle, we can't say that the headline isn't the only eyebrow-raising line in the piece - but we won't charge it to Whitacre's account. However, when it takes five years to develop a single car, and redesigning a taillight for a midcycle refresh might take a year, we're not sure how anyone can reinvent a global automaker in just nine-months as CEO. Perhaps we should ask Ford boss Alan Mullaly about that timeframe.

To the point, the book will be out on February 12 - you can pre-order it on Amazon now - and Whitacre's explanation of how Fritz Henderson was let go, how he got the CEO position and how Akerson came to follow will be sure to get enthusiasts intrigued in what else the complete tome might say. All you've got to do is follow the link to read it.

Read an excerpt from Whitacre's book about how he fired Henderson and why Akerson got the job originally appeared on Autoblog on Thu, 24 Jan 2013 15:45:00 EST. Please see our terms for use of feeds.

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Former CEO Whitacre says he blocked GM move out of Detroit

Zach Bowman — Mon, 15 Oct 2012 13:30:00 EST

Filed under: Etc., GM

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 Warren, which would have allowed GM to either lease or sell the Ren Cen outright. Oddly enough, GM apparently planned to keep the company's CEO and a few others on the premises, which would have put management some 30 minutes away from the rest of the company.

Whitacre says the move would have cost around $100 million to implement. The city of Detroit eventually offered GM substantial tax incentives to stay put, and the automaker announced its plans to stay in the Ren Cen in August of 2010.

The memoir also touches on Whitacre's successor, Dan Akerson. Whitacre says Akerson called GM "one of the worst companies he'd come across in his entire life" and notes that he admitted he didn't like GM vehicles.

Former CEO Whitacre says he blocked GM move out of Detroit originally appeared on Autoblog on Mon, 15 Oct 2012 13:30:00 EST. Please see our terms for use of feeds.

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Former CEO Whitacre urges Treasury to sell stake in General Motors

Seyth Miersma — Thu, 20 Sep 2012 13:45:00 EST

Filed under: Government/Legal, GM, Earnings/Financials

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.

In the op-ed piece, Whitacre is careful to express just how important the U.S. Government's bailout - an initiative known as the Troubled Asset Relief Program, or TARP - was when $50 billion was added to the company coffers in 2009. But he goes on to say that government involvement has long since run its useful course, and its presence is now serving to hold back the automaker, rather than serve to secure the U.S. public's investment.

Writes Whitacre, pointedly, about the continued involvement of TARP regulators at GM, "The company already answers to a lot of constituencies: stockholders, unions, Wall Street and global competitors. Adding TARP to the mix for another few years, or even another few quarters, is not fair to GM or to the one million people it employs, directly and indirectly."

Whichever side of this debate you happen to fall on, it's well worth taking the time to read Whitacre's words in full, over at the WSJ's site.

Former CEO Whitacre urges Treasury to sell stake in General Motors originally appeared on Autoblog on Thu, 20 Sep 2012 13:45:00 EST. Please see our terms for use of feeds.

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Followup: GM officials take issue with Whitacre's IPO share price estimates

Jonathon Ramsey — Mon, 18 Oct 2010 16:01:00 EST

Filed under: Government/Legal, GM

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."

According to The Detroit News, a GM response filed with the Securities and Exchange Commission refutes everything, saying that the price hasn't been set, the IPO might not happen in November, and the company doesn't know if it "will be successful or whether it will work." GM is in a self-imposed "quiet period" before its IPO "to comply with SEC regulations," which Whitacre's comments blew out of the water. According outside observers, "Any comments beyond what is included in GM's regulatory filings could be construed as breaking SEC rules during the quiet period and could jeopardize the timing of the IPO." Whoopsie.

[Source: The Detroit News]

Followup: GM officials take issue with Whitacre's IPO share price estimates originally appeared on Autoblog on Mon, 18 Oct 2010 16:01:00 EST. Please see our terms for use of feeds.

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Report: Whitacre suggests GM IPO shares will be $20-$25

Jeff Glucker — Thu, 14 Oct 2010 16:01:00 EST

Filed under: GM, Earnings/Financials

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.

This could be good news for past and present employees, as well as dealers, who are invited to purchase shares at the IPO price. The minimum investment is said to be $1,000 to participate in this program and even that minimum dollar amount could yield solid returns right out of the gate.

[Source: The Detroit News | Image: Stan Honda/AFP/Getty]

Report: Whitacre suggests GM IPO shares will be $20-$25 originally appeared on Autoblog on Thu, 14 Oct 2010 16:01:00 EST. Please see our terms for use of feeds.

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GM CEO Swap: Dan Akerson to replace Ed Whitacre on Sept. 1

Steven J. Ewing — Thu, 12 Aug 2010 11:11:00 EST

Filed under: Hirings/Firings/Layoffs, GM

During a conference call to discuss General Motors' second quarter earnings, Ed Whitacre announced that he will be stepping down from the position of CEO effective September 1st, and that his title of Chairman of the Board will terminate at the end of 2010.

Whitacre will be replaced by Dan Akerson (right), 61, who currently serves on the GM board of directors and holds the position of managing director for the Carlyle Group. No, he isn't a car guy, but then again, neither was Whitacre. "There are remarkable opportunities ahead for the new GM, and I am honored to lead the company through this next chapter," said Akerson.

Hit the jump for the full details in GM's press release.

[Source: General Motors]

Continue reading GM CEO Swap: Dan Akerson to replace Ed Whitacre on Sept. 1

GM CEO Swap: Dan Akerson to replace Ed Whitacre on Sept. 1 originally appeared on Autoblog on Thu, 12 Aug 2010 11:11:00 EST. Please see our terms for use of feeds.

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Report: Whitacre wants a flagship S-Class rival for Cadillac

Noah Joseph — Thu, 12 Aug 2010 08:59:00 EST

Filed under: Sedan, Cadillac, Rumormill, Luxury

Cadillac Sixteen concept - Click above for high-res image gallery

There was a time, not so long ago, that if you wanted a proper fullsize luxury sedan (short of a Bentley or Rolls-Royce, at least), your choices were "largely" limited to the German three: the BMW 7 Series, Audi A8 and Mercedes-Benz S-Class. But that was before the Lexus LS came along, the Infiniti Q45 came and went, when Jaguar's XJ was still a tight fit (and an unreliable one at that) and the Maserati Quattroporte didn't really factor into the equation. Don't even get us started on underdogs like the Volkswagen Phaeton and Hyundai Equus, but you get the point. Volvo recently became the latest rumored to be joining the fold, and now it looks like Cadillac could as well.

Substantiating earlier reports, the latest batch indicate that the call for a fullsize Caddy to battle the German stalwarts came right from the top, from GM CEO Ed Whitacre. And why shouldn't it? After all, if the head of one of the largest corporations in the world needs a new ride, he shouldn't have to look to a competitor like his Japanese counterpart Toyoda-san was spotted doing.

As is often the case with such rumors, few details are known at this point. But the project is expected to slot above the upcoming XTS - the model that's slated to replace both the STS and DTS sedans - with a rear- or all-wheel-drive setup and arrive no sooner than 2014. So we've got a while to wait before we find out if there's anything to these reports. But they certainly are intriguing.

Gallery: Cadillac Sixteen Concept

[Source: Automotive News - Sub. Req'd]

Report: Whitacre wants a flagship S-Class rival for Cadillac originally appeared on Autoblog on Thu, 12 Aug 2010 08:59:00 EST. Please see our terms for use of feeds.

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Report: Whitacre says GM anticipates offering entire company in IPO

Sam Abuelsamid — Fri, 06 Aug 2010 16:59:00 EST

Filed under: Government/Legal, GM, Earnings/Financials

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.

However, until GM CEO Ed Whitacre spoke at the Management Briefing Seminars in Traverse City, MI this week, the presumption was that only about one-third of the company's stock would be offered up in the IPO. Whitacre, however, seems to be indicating that the entire company would be offered up in a single sale. The rationale for doing the stock sale in stages would be to maximize the return on the government's investment. A single sale might result in a lower per-share price and lower overall return. By selling a smaller stake and then timing further sales with a hopefully rising stock price, the return could be improved.

Following Whitacre's comments, other GM representatives told CNBC that the final decision would be made by the current shareholders, the U.S. and Canadian governments, the UAW health care trust and former bondholders.

[Source: CNBC]

Report: Whitacre says GM anticipates offering entire company in IPO originally appeared on Autoblog on Fri, 06 Aug 2010 16:59:00 EST. Please see our terms for use of feeds.

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GM reportedly pondering new small truck, return to minivans

Sam Abuelsamid — Fri, 06 Aug 2010 09:29:00 EST

Filed under: Minivan/Van, Truck, Chevrolet, GM, GMC, Opel

Chevrolet mid-size pickup patent drawing - Click above for high-res image gallery

General Motors CEO Ed Whitacre was apparently quite chatty during his visit to the Management Briefing Seminar in Traverse City, MI this week. In addition to his comments about possibly selling all of GM's stock during the upcoming IPO, he also revealed that the product planning staff under Stephen Carlisle is looking at getting back into market segments the company has or will soon abandon.

After 20 years of unsuccessfully trying to get traction in the minivan market, BusinessWeek reports that GM is considering trying again with stretched version of the European Opel Zafira. Oddly, this comes not long after the automaker decided not to offer the forthcoming similarly sized Chevrolet Orlando in the U.S. market. GM is also apparently revisiting the mid-sized pickup truck. A replacement for the Chevy Colorado/GMC Canyon twins is under development for overseas markets, but it's not currently planned for sale here.

Freed of much of its debt, GM appears to now be at liberty to look at the entire vehicle market for new opportunities - particularly at the low end for Chevrolet, where it has always had a hard time making profitable products.

Gallery: Chevrolet mid-size pickup patent drawings

[Source: Bloomberg]

GM reportedly pondering new small truck, return to minivans originally appeared on Autoblog on Fri, 06 Aug 2010 09:29:00 EST. Please see our terms for use of feeds.

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Report: GM to launch compact van in several markets... is it the Chevy Orlando?

Dan Roth — Thu, 01 Jul 2010 08:28:00 EST

Filed under: Concept Cars, Minivan/Van, Etc., Buick, Chevrolet, GM

2009 Chevrolet Orlando concept - Click above for high-res gallery

During a marathon presentation on Tuesday, General Motors Vice Chairman Tom Stephens showed off slides of a new family van based on the company's compact car platform. The van and other vehicles were shown as part of the session detailing a new Chevrolet SUV, a compact car concept and a three-row Buick van for the Chinese market. The images shown were not released to journalists.

While executives were intentionally vague about the new van, the production version of the Chevrolet Orlando immediately springs to mind, as it would seem to fit that description. Based on product-man Stephens' assertion that the van will launch soon in multiple markets around the world, the Cruze-based Orlando seems a logical assumption. The Cruze is already on sale in Europe and Asia, so production kinks have been smoothed, and a platform variant seems like the most likely step. Worldwide markets have plenty of MPV options, and the Orlando slots right in. GM's moves have defied logic in the past, but CEO Ed Whitacre characterized yesterday's presentation as an introduction of a new GM. We've heard talk like this before, of course, but maybe this time they mean it.

Gallery: Detroit 2009: Chevrolet Orlando Concept

Photos by Drew Phillips / Copyright (C)2009 Weblogs, Inc.

[Source: Automotive News - sub. req.]

Report: GM to launch compact van in several markets... is it the Chevy Orlando? originally appeared on Autoblog on Thu, 01 Jul 2010 08:28:00 EST. Please see our terms for use of feeds.

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C/D: Cadillac to get new range-topping rear-wheel-drive flagship

Chris Paukert — Fri, 11 Jun 2010 16:28:00 EST

Filed under: Sedan, Cadillac, GM, Rumormill

According to Car and Driver's Jens Meiners, Cadillac is poised to get a new full-size, rear-wheel drive sedan to slot in above the forthcoming XTS - a model that itself will sit above the CTS when it bows to serve as a combined replacement for the STS and DTS.

To hear C/D's moles tell it, the flagship sedan is still in the early planning stages, but the model is being built at the directive of none other than GM CEO Ed Whitacre. If the rumor is accurate, the forthcoming model is apparently likely to be derived from a stretched Sigma platform, the same architecture that underpins the CTS family. Meiners dismisses thoughts that the car could be built on the much-used Zeta platform that underpins the Chevrolet Camaro, suggesting that it's too heavy and old to support such a vehicle.

With word that a Lambda-based three-row crossover and the BMW 3-Series fighting ATS are on the way for General Motors' Wreath and Crest division, it's becoming increasingly clear that the boys down at The Tubes have hit the product accelerator pedal for their luxury brand. We just hope that this mystery offering means that Cadillac is finally going to cook up something that looks like 2003's showstopping Sixteen concept (above), albeit likely in a scaled-down format.

[Source: Car and Driver]

C/D: Cadillac to get new range-topping rear-wheel-drive flagship originally appeared on Autoblog on Fri, 11 Jun 2010 16:28:00 EST. Please see our terms for use of feeds.

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Report: Top GM execs awarded millions in stock ahead of IPO

Jeremy Korzeniewski — Tue, 08 Jun 2010 18:28:00 EST

Filed under: Government/Legal, GM, Earnings/Financials

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.

According to filings submitted to the Securities and Exchange Commission, Chairman and CEO Ed Whitacre, Vice Chairman Tom Stephens, Chief Financial Officer Chris Liddell, Vice Chairman Chris Girsky and North American President Mark Reuss are all slated to get major stock deals.

After GM received its $50 billion bailout from the U.S. government, Kenneth Feinberg, Treasury's special master on pay, set up pay restrictions for officials at the automaker that capped salaries at specified levels, oftentimes to no more than $500,000 per year. Naturally, the stock deals awarded to the aforementioned executives after the company's expected IPO should more than help make up for any perceived monetary deficiencies.

[Source: TheDetroitBureau.com]

Report: Top GM execs awarded millions in stock ahead of IPO originally appeared on Autoblog on Tue, 08 Jun 2010 18:28:00 EST. Please see our terms for use of feeds.

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Autoblog Podcast #181 - Mercury, Ed Whitacre, Gas Tax and Guessing Cops

Dan Roth — Tue, 08 Jun 2010 17:15:00 EST

Filed under: Podcasts, Etc., Government/Legal, Technology, Earnings/Financials

Click above for the Autoblog Podcast in iTunes, RSS or listen now!

Thanks for your your questions for Episode #181 of the Autoblog Podcast. This week,Chris, Sam, Dan and Alex take them on. News topics we cover are a little more on the shuttering of Mercury, Ed Whitacre's management bushwacking at GM, a lively gas tax discussion, Ohio cops with radar guns for optic nerves, and the dieselphiles among us just had to kibbitz about the new Range Rover diesel that was apparently originally destined for the Ford F150. We wrap it up by tearing up a particular message from one of you dear listeners, so be sure to hang out till the end.

Autoblog Podcast #181 - Mercury, Ed Whitacre, Gas Tax and Guessing Cops

In the Autoblog Garage:

Cadillac CTS Sport Wagon
Kia Sorento V6
Ford Transit Connect
Lexus ES350

News:

Hosts:
Chris Shunk, Dan Roth, Sam Abuelsamid, Alex Nunez

Runtime: 1:22:10

Get the podcast:
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Feedback:
Email: Podcast at Autoblog dot com
Voicemail: 734-288-8POD (734-288-8763)

Review the show in iTunes and take our survey

Autoblog Podcast #181 - Mercury, Ed Whitacre, Gas Tax and Guessing Cops originally appeared on Autoblog on Tue, 08 Jun 2010 17:15:00 EST. Please see our terms for use of feeds.

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Latest GM management shuffle puts Whitacre in charge of product planning

Sam Abuelsamid — Sat, 05 Jun 2010 21:31:00 EST

Filed under: Hirings/Firings/Layoffs, GM

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.

Product planning responsibility will now fall to Steve Carlisle, formerly VP of U.S. sales. One of the main goals of the changes made by CEO Ed Whitacre since taking over has been flattening the organization and removing layers of management. To that end, Carlisle will now be a direct report to Whitacre, who will henceforth have the final say in future product planning at GM. Previously, Laukner reported to vice chairman Tom Stephens, who retains control over all product development activities.

Many executives we've spoken to at GM in recent months say that while an increasing number of people are reporting to Whitacre, the ex AT&T man is not micromanaging. Instead, they argue, Whitacre is trying to put the right people in place and then relying on them to do the job. Still, the move to put someone with no previous auto industry experience in charge of product planning at GM has some pundits deeply concerned.

Is this a good move or a bad one? Check out the full slate of executive changes in the links below, then have your say in the comments.

[Sources: AutoWeek, Inside Line | Image: Bill Pugliano/Getty]

Latest GM management shuffle puts Whitacre in charge of product planning originally appeared on Autoblog on Sat, 05 Jun 2010 21:31:00 EST. Please see our terms for use of feeds.

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Report: GM considering getting back into auto-lending game

Jonathon Ramsey — Fri, 14 May 2010 08:01:00 EST

Filed under: Government/Legal, GM, Earnings/Financials

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.

Ever since GM had to walk away from GMAC, dealers have had to rely on outside lenders in order to sell cars. One dealer said, "Getting a customer financed today is the hardest thing, even if they have good numbers," but a GM-owned finance arm could be more proactive with lending, and therefore moving metal and making money.

The report indicates that if Whitacre were looking to acquire Ally, he might only want to deal with the auto finance arm, leaving the other lending branches alone. Still, he'd have to sort out Ally's status as a bank holding company, and that might be too much to swallow. He could also form a partnership with other banks in the meantime, but it will take time to get banks on GM's side in the way GM wants, and Whitacre isn't a man out to waste time; he wants a deal in place by the end of the year before taking the company public.

[Source: Automotive News - Sub. Req'd | Image: William Thomas Cain/Getty Images]

Report: GM considering getting back into auto-lending game originally appeared on Autoblog on Fri, 14 May 2010 08:01:00 EST. Please see our terms for use of feeds.

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Video: Ed Whitacre tells America GM has repaid U.S. loans in new ad

Zach Bowman — Thu, 22 Apr 2010 19:27:00 EST

Filed under: Government/Legal, Marketing/Advertising, GM, Earnings/Financials

General Motors pays its loans early - Click above to view the video after the jump

It didn't take long for General Motors to turn out an ad boasting the fact that the company was able to pay back its federal loans five years ahead of schedule. The company has rolled out a new spot featuring none other than Chairman and CEO Ed Whitacre strolling through an assembly plant and addressing the American public. Whitacre even opens with the fact that he "can respect" the fact that many individuals didn't want the federal government to bailout the auto industry in the first place.

If you look close, you can spot a number of upcoming models in the background as GM's head honcho recaps some of the company's recent successes. Both the Cadillac CTS Coupe and the Chevrolet Cruze make an appearance. Whether or not this will help GM shed its unfortunate "Government Motors" nickname remains to be seen, but it certainly can't hurt. The company has an uphill battle with most buyers after infamously receiving billions of dollars from the government in an emergency effort to keep the company afloat. Hop the jump to see the spot for yourself.

[Source: GM via YouTube]

Continue reading Video: Ed Whitacre tells America GM has repaid U.S. loans in new ad

Video: Ed Whitacre tells America GM has repaid U.S. loans in new ad originally appeared on Autoblog on Thu, 22 Apr 2010 19:27:00 EST. Please see our terms for use of feeds.

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GM CEO Whitacre paid for own charter flight to D.C.

Chris Shunk — Thu, 22 Apr 2010 10:31:00 EST

Filed under: Government/Legal, GM

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.

There was no way for Whitacre to rock a Chevy Malibu from Kansas to Washington in a couple hours, so Big Ed instead chartered a flight to our nation's capitol. You may remember what happened the last time an automaker CEO flew into Washington. It wasn't pretty. So instead of using a private jet on company funds, The Detroit News reports that Whitacre busted out the check book and paid for the flight to Washington on his own dime. Given the fact that Big Ed received a $158 million retirement package from AT&T (and part-time use of a private plane), we're guessing the trip isn't going to break the bank.

We're a long way away from knowing whether Whitacre is as good an automotive CEO as he was a telecommunications chief executive, but the early returns show that the burly Texan at least pays attention to history.

[Source: The Detroit News | Image: Steve Fecht/General Motors]

GM CEO Whitacre paid for own charter flight to D.C. originally appeared on Autoblog on Thu, 22 Apr 2010 10:31:00 EST. Please see our terms for use of feeds.

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GM investing $257M in Fairfax and Detroit plants to build next-gen Malibu

Sam Abuelsamid — Wed, 21 Apr 2010 11:30:00 EST

Filed under: Sedan, Plants/Manufacturing, Chevrolet, GM

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 the Chevrolet Malibu and Buick LaCrosse, a perfect venue to announce new plant investments for the next generation Malibu.

GM will spend a total of $257 million to get both the Fairfax and Detroit-Hamtramck plants ready for the new Malibu. The Kansas City plant will receive a $136 million investment and be the new car's primary production site, while $121 million will be spent tooling up the Detroit plant to build the 2012 Malibu alongside the Chevrolet Volt.

The Detroit-HHamtramck plant currently builds the Cadillac DTS and Buick Lucerne, both of which are expected to end production some time in the next year. The Lucerne will likely be dropped from the lineup and the DTS will be replaced by the Cadillac XTS, which will likely be built in Oshawa.

[Source: Automotive News, sub. req.]

Continue reading GM investing $257M in Fairfax and Detroit plants to build next-gen Malibu

GM investing $257M in Fairfax and Detroit plants to build next-gen Malibu originally appeared on Autoblog on Wed, 21 Apr 2010 11:30:00 EST. Please see our terms for use of feeds.

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