The more things change, the more... you know what we're trying to say. Just last week, longtime AT&T guru and then interim General Motors CEO Ed Whitacre was able to ditch that pesky 'interim' modifier and became the king of the hill at GM. Of course, that was last week. This week we'r
While early rumors suggested that this morning's surprise news conference at General Motors' Renaissance Center might be to confirm the sale of Saab to Spyker, the big news emanating from the company's Detroit headquarters is that Ed Whitacre Jr. is scrubbing 'interim' from his door plaque and instead taking the title of permanent CEO.
Headhunting firm Spencer Stuart is without doubt on the speed-dial lists of bailed-out firms, having placed chairmen, CEOs, Chrysler Group LLC, and board members for AIG, Citigroup Inc., Freddie Mac, Fannie Mae, and GMAC. Then they flew over General Motors so that Ed Whitacre, Jr. could heli-drop in. Now, The Wall Street
Ever since General Motors announced this spring that it was killing the Pontiac brand as part of its restructuring, fans of the Holden-developed G8 sedan have been clamoring to save it as a Chevrolet. After company officials repeatedly said over the past two months that no such thing would happen, Bob Lutz re-lit the fire last week in one of his first pronouncements after un-retiring. Lutz proclaimed that the G8 would indeed become a new Chevrolet Caprice.
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
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 sales in Latin America, Africa and the Middle East as evidence of the company's succes