97z2801ss

http://biz.yahoo.com/rb/050404/autos_gm.html?.v=2



Reuters
GM CEO Takes on N.American Car Operation
Monday April 4, 10:44 am ET


DETROIT (Reuters) - General Motors Corp. (NYSE:GM - News) said on Monday that Chief Executive Rick Wagoner will assume the leadership of automotive operations in North America, where the car company has been losing money and market share.
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Bob Lutz, chairman of GM North America, and Gary Cowger, president of GM North America, will relinquish their roles and focus full-time on global responsibilities. Lutz will lead GM's global product development activities, and Cowger will focus on global manufacturing and labor.

The moves follow last month's warning by the Detroit automaker that its earnings this year would be as much as 80 percent below its forecast, due to U.S. market share losses to foreign competitors and climbing health-care costs.

"Given the challenges we face in North America, it makes sense for me to assume control of GMNA's (General Motors North America) day-to-day operations and shorten the lines of communication and decision-making," Wagoner said in a statement.

Last month, GM reorganized its global vehicle development and engineering operations, combining four different regions into a single system to speed up the launch of new cars and trucks.

"Now's the right time to accelerate the global integration of two of our most important functions, product development and manufacturing/labor," Wagoner said.

GM's weaker North American operations had sent its bond rating down to just one step above "junk" status at two ratings agencies, and its stock price to its lowest level in more than 13 years.

Last week, GM posted a 1.3 percent drop in its U.S. sales, with weaker results for some of its most profitable vehicles -- mid-size and full-size sport utility vehicles.

meissen

Say goodbye to GM..

1BADVETTE

All GM car companies are going to fall. They'll all burn. All faith in GM has been lost by everyone. Everyone hates them. End of story.

meissen

Unless they bring back the Firebird and Camaro.

1BADVETTE

which they won't cause they're ******* idiots.

edit: actually, it's a smart idea, cause if they did bring either of them back, they'd be huge 4-door sedans weighing 4,000lbs and costing 35,000+. Not exactly anyone's forte (sp) if they can get something better for 25,000 cheaper

97z2801ss

yea but gm stock once it under 25 bucks or so will be awesome to buy cuz theyll come back.. and there not going anyware soo... but other then that gm better do something there way behind the 8 ball

meissen

good point, when it dips low would be a good time to buy.

imported_Sincere

First off, it is not a demotion for Lutz, is a promotion. Rather than focus on just North America, but focus on the world. This to me, means one of two things, either we are fixing to see the RWD V8's we want (Seeing as how Australia now has the Zeta platform, and there are plenty more re-badged Holden v8 units that could be brought over), or we are gonna see more Hybrid vehicles. Personally, I see the latter being better for GM. The way gas prices are, there is a huge demand for hybrid vehicles.

Now where does all of this fit into the possible future of a new Camaro? Well why do you think that Ford still has a GT? Delivering to the masses is the answer. For every 1 GT that is made and sold, another 1xx v6's are sold. Same goes for all of the other crappy cars that they make becuase people want. If you are making more income, then you'd be more willing to risk it on a car that probably has little to no market.

Little to no market for a new Camaro, you say? You betcha, the 98-02 LS1's were the fastest production Camaros ever made. Sure they didnt produce as many as in previous years, but that is because of the simple fact that they no longer sold.

The answer to all of these problems is beyond me, honestly, I just hope GM can pull through this alive and well.

Personally, I don't believe GM is going anywhere. Mark my words. They are jst too big of a company to be totally phased out. I, as a matter of fact, am considering purchasing some GM stock, I am so sure of it.





Oh yeah, and

archemedes

gm will be fine every car company is struggling (people have less money right now then hit them with record gas prices)

McGruff

Reminds me of Old School, when Will Ferrell "blacks out"...