The New York Times has reported that Rick Wagoner, chief executive of the world’s largest automaker, again emphasized the company had no plans for filing for bankruptcy.

Mr. Wagoner answered the bankruptcy question as well as others in a rare interview with a small and select group of journalists. He stated, because of the new line up of vehicles and cost-cutting measures implemented last year, he anticipated strong sales in 2006 as early as the first quarter. When asked about last year’s Employee Discount Pricing program, he answered, "the most successful consumer program we have ever run.” This is despite reports that the program affected GM’s long-term term plans such as Total Value Pricing. He didn't state, however, that the company wouldn't consider running the program in the future.

But Mr. Wagoner again pressed that bankruptcy is not under consideration. "We don't see bankruptcy as a winning strategy in any way, shape or form."

See here, here, and here for prior posts on bankruptcy and GM previously reported on Autoblog.

Help us improve our comments.
Share This Photo X