wagoner


REPORT: Wagoner gets $8.2M severance + $74,030 annually w/benefits... for life

When Rick Wagoner was forced out of his position as the CEO of General Motors last March, he left with a severance plan that included $22 million paid out over the course of a few years, plus a yearly pension. Just a few months later, The Los Angeles Times is reporting that Mr. Wagoner has worked out a deal with his ex-employer that will "only" pay out $8.2 million, plus $74,030 per year for life, along with health and life insurance plans. Wagoner's retirement becomes official on August 1, at which time he can begin reaping the benefits of ... Read more →

BREAKING: GM CEO Wagoner out at Obama's request Alex Nunez

Tom Krisher of the Associated Press reports that General Motors CEO Rick Wagoner will step down from his post immediately, based on information given to him from an unnamed source. The news comes on ...

BREAKING: Bush greenlights $17.4 billion Auto Rescue/Bailout package Chris Paukert

President George W. Bush will doubtlessly be remembered for many things things, but his parting legacy may yet be his eleventh-hour pledge of $17.4 billion in low-interest loans to General Motors and ...

GM's Wagoner heading to Congress in Malibu Hybrid Michael Harley

While it won't get him there as quickly (or as luxuriously) as a Gulfstream corporate jet, GM CEO Rick Wagoner will drive to Washington this week in a Chevrolet Malibu hybrid to ask for ...

Calling for GM bailout may cost Wagoner his job Jeremy Korzeniewski

General Motors' CEO, Rick Wagoner, who's been manning the helm for the last eight years and a part of its staff since 1977, has taken some heat for asking the Feds for a bailout. A possible condition ...

GM's Wagoner to elaborate on business plan tomorrow 1 year ago on Autoblog

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 ...

Says Rick Wagoner: Volt might come in 2010... or it might not 1 year ago on Autoblog

Bob Lutz has staked a fair amount of his and GM's reputation on the Volt. Even though he has said since the beginning that the Volt needs battery technology that isn't ready for the mass market yet, he also said that the Volt would go on sale by the end of 2010. Rick Wagoner, though, in a 50-minute ...

GM shareholders' meeting: progress, Proton and healthcare 2 years ago on Autoblog

Rick Wagoner had good news to report at GM's shareholder meeting, held yesterday: progress is being made, and the company is on track to shed $2.2 billion in expenses this year. He also said that GM is still in talks with Proton, but that it's "more a possibility for us than a probability." What ...

Cerberus could align GMAC and Chrysler Financial 2 years ago on Autoblog

No one knows yet what Cerberus is going to do with Chrysler. However, the possibilities probably include quite a few things that wouldn't be normally expected in the car business -- such as GMAC and Chrysler Financial working closely together. Cerberus hasn't made any mention of such, yet -- that ...

GM releases pic of production Camaro and a bit more 2 years ago on Autoblog

click above image to view high-res version General Motors released an image today of GM Chairman and CEO Rick Wagoner, Vice-Chairmen Bob Lutz and Fritz Henderson standing in front of a production clay model of the 2009 Camaro being chiseled. The official caption of the pic refers to the car as a ...

Wagoner cuts pay by 25% to aid turnaround, well kind of 2 years ago on Autoblog

When possible, we like to cross-reference stories with other news sources before we report on them, and we've found this to be even more important when the topic at hand is hard data. When we came across a Reuters' story proclaiming that GM CEO Rick Wagoner was taking a 25-percent pay cut beginning ...

GM bosses forego bonuses for another year 2 years ago on Autoblog

GM's 2006 was so much better than 2005, news agencies in Detroit and around the country were wondering if it would hurt the General in UAW discussions in September. GM did improve greatly in 2006, but the fact remains that they still lost money. That's one big reason General Motors will not be ...

When will the madness end? GM's talks to buy Chrysler heat up 2 years ago on Autoblog

We were all ready to start this week anew, leaving behind the reports of a supposed sale of Chrysler to General Motors. But alas, that ain't going to happen. Both the Detroit News and Automotive News came out with stories this morning making it clear that talks between the two automakers are serious ...

Rumor of the Day: GM may buy Chrysler Group 2 years ago on Autoblog

Take this for what it is, a rumor about which General Motors and DaimlerChrysler have refused to comment. According to a report today in German magazine Manager Magazin, DaimlerChrysler is in talks to sell its Chrysler Group division to GM. The magazine cites sources within DaimlerChrysler as ...

Charlie Gibson hosting World News Tonight from Detroit this week 2 years ago on Autoblog

Charlie Gibson and the crew from ABC's World News Tonight will be rolling into Motown next this week to tape the show from Detroit tonight and Tuesday. Clearly the state of the auto industry in the U.S. is national news, and where better to report on it than the epicenter of Detroit? Both Ford CEO ...

Detroit Auto Show: A conversation with Jill Lajdziak 2 years ago on Autoblog

Saturn general manager Jill Lajdziak's enthusiasm for her brand is infectious. And really, who can blame her? The charismatic and ebullient Ms. Lajdziak is at the helm of a brand that's critical to GM's product-based turnaround plan and which has seen its entire lineup overhauled over a very short ...

Bush meets with Big Three, has open ear but no commitments 3 years ago on Autoblog

We've just finished watching the coverage of a press conference held outside the White House following the president's meeting with General Motors CEO Rick Wagoner, Ford CEO Alan Mulally and Chrysler Group CEO Tom LaSorda. We attempted to watch the press conference live on Fox News, CNN and CNN ...

Board battle looming at GM? 3 years ago on Autoblog

Rick Wagoner may have won the Renault-Nissan battle, but the boardroom wars are far from over for General Motors' beleagured chief executive. Wall Street analysts are telling investors to brace themselves for a lengthy and bitter fight for control of the company's board of directors, led by ...

What went wrong? Analysis of GM/Renault-Nissan talks 3 years ago on Autoblog

UPDATE: They Speak! Official release addressing dissolution of talks after jump. We're now awaiting official word from Renault (it came, see after jump) concerning the break off of talks between the automaker, its alliance partner Nissan, and General Motors. While we're waiting, we thought you'd be ...

Report: GM and Renault/Nissan end talks 3 years ago on Autoblog

The Wall Street Journal is reporting that talks between General Motors and Renault/Nissan have ended. The news comes from an unnamed person familiar with the situation, which could be the guy that fills the water glasses on the conference table, and Renault so far is refusing to comment. We do know ...

Wagoner says we don't need a partner 3 years ago on Autoblog

Rick said it; General Motors does not need a partner to complete its recovery. According to an interview with Wagoner by Automotive News, the CEO of GM thinks 'It's not logical or responsible to say we must have a partner to recover.' GM is currently studying whether it will allow billionaire ...

Ghosn speaks out: Talks with GM progressing 3 years ago on Autoblog

What quiet period? Renault-Nissan CEO Carlos Ghosn said yesterday that talks with General Motors about an alliance were going well, but that it's still too early to tell whether the three companies will wed. Ghosn and Renault-Nissan have set up an internal deadline of mid-October to provide more ...

Ricky speaks! General Motors chief Rick Wagoner talks turnaround on FastLane Blog 3 years ago on Autoblog

General Motors chairman and CEO Rick Wagoner chose to fill us in on GM's turnaround progress via the company's FastLane Blog, a soapbox usually reserved for one Bob Lutz. GM's chief reiterated some of the statements he made earlier in the week to the business media, spinning away a second quarter ...

Could GM use Toyota to parry Renault/Nissan blow? 3 years ago on Autoblog

The possibility of a merger, or at least an alliance, between General Motors and Renault/Nissan has opened speculation to other combinations. Levin's opinion of a GM/Toyota combo, while improbable, may just be the wild card GM CEO Wagoner needs to ward off a more probable GM/Renault/Nissan ...

Breaking: GM board gives green light to Nissan-Renault talks 3 years ago on Autoblog

General Motors' board announced Friday that it has instructed CEO Rick Wagoner to proceed with preliminary discussions exploring a possible three-way alliance with Nissan Motor and Renault SA. At the same time, GM Director George Fisher reaffirmed the board's support for the GM management team's ...

GM Chairman upbeat in "State of the Business" address 3 years ago on Autoblog

Speaking to General Motors' Annual Meeting of stockholders, the company's Chairman and CEO, Rick Wagoner, was generally upbeat about the progress of GM's restructuring plan, pointing to a profitable first quarter in Europe, strong growth in the Asia Pacific region (particularly China), and rising ...

Is Delphi's bankruptcy a strategy for growth? 3 years ago on Autoblog

Could Delphi's bankruptcy be a strategic long-term move by the parts maker? According to Business Week, Delphi has only declared bankruptcy for its U.S. operations-- overseas facilities in Mexico, China and other countries are not affected. If the unions and Delphi don't reach a compromise ...






Autoblog Podcast #153: With Phil Berg

Phil Berg puts his reputation on the line and hangs with the podcast crew.

 
 

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