21 ordspråk av Richard Wagoner

Richard Wagoner

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China also is going well for us, particularly now that we have the market covered from the bottom to the top.

I'm not conceding anything to anybody.

What we're all going to have to do is ratchet back production capacity, and that's painful, ... Once you swallow that, then you hopefully reach a steady state and lower level of production across the board.

These potential actions are intended to restore GMAC's investment-grade credit rating and to renew its access to low-cost funding, ... In addition, these actions are designed to preserve and to grow the synergies between GM and GMAC, especially cost-effective auto financing, and sustaining GMAC's diversified earnings growth.

Our teams worked hard to find profitable ways to further strengthen the Oldsmobile product line, including consideration of products developed with our global alliance partners,

This is a difficult but necessary decision and it was made only after the greatest deliberation.

A number of other U.S. companies have already taken similar action in the face of these rising costs and increasing global competition. In particular, U.S. healthcare costs continue to rise at high rates. When these benefits were conceived decades ago, no one could have foreseen the explosive cost inflation that we have been experiencing in recent years. These costs are simply not sustainable.

These are difficult decisions that involve sacrifices by our employees, stockholders, retirees, and the senior leadership team. However, we are confronting a dramatic change in our industry and in the global competitive environment, and that requires us to look for additional ways to reduce financial risk and improve our competitiveness for the long term.

We have decided to substantially alter the pension benefits for current U.S. salaried employees so that we can provide a competitive and fair benefit but also reduce the financial risks to GM. While we will announce specific details early next month, we intend to freeze accrued benefits in the current plan and implement a new plan for future accruals which could include a defined contribution or cash balance plan.

This approval allows us to fulfill those important objectives as we continue to rapidly implement all aspects of our North American turnaround plan.

While we are encouraged by the speed and scale of the changes we're implementing, there is clearly more work to be done.

Over the years we've shown the Saturn brand can carry a premium in the segment that it plays in,

At this point we don't see big concerns, ... We're looking for some big sales over the next 30 days or so.

Why is every year the industry [sales] figure bigger than what we tell you it's going to be at the beginning of the year? ... Obviously the traditional models are not working. Is that going to continue indefinitely? I don't know. I suspect so. Why is it up? A lot of wealth in the U.S. economy [and] vehicle prices relative to that wealth are the lowest they've been in 20 or 30 years.

While it may have taken some time to reach this solution, I think it was time very well spent,

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