Today as GM shareholders gather for their annual meeting, there is increased pressure on Wagoner to bring GM back to profitibility. While the meeting may not reveal any plans, GM shareholders are pressing to get plants closed. GM has already made cuts in North American production and many see this as postponing the inevitable. With declining sales, weak SUV demand, and financial loses, GM does need to take action. At the same time, Wagoner is between a rock and a hardplace. On one side, Toyota is set to take over the lead position and continue to take away sales. On the other, high healthcare costs and union obligations limit the effectiveness of the logical course of action. While they are far from dead, GM is on a slippery slope.
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