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137 ordspråk av Rick Wagoner

Rick Wagoner

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GM's top priority is to restore our North American operations to profitability and positive cash flow as quickly as possible.

We haven't asked for a bailout but we have asked for a lot of things and the reaction in Washington has been very slow.

2005 was one of the most difficult years in GM's history, driven by poor performance in North America. Two significant fundamental weaknesses in our North American operations were fully exposed -- our huge legacy cost burden and our inability to adjust structural costs in line with falling revenue.

GM's top priority is to restore our North American operations to profitability and positive cash flow as quickly as possible. In 2005, we laid out a comprehensive and integrated strategy to address the structural issues that impede our competitiveness and profitability, and we are focused on rapidly executing all aspects of the turnaround plan.

We're not interested in a bailout, but we would like a chance to play on a level playing field.

I'm not sure I'm going to make a lot of progress by scorekeeping everybody's sacrifice.

While our 'pay-for-performance' executive compensation system is already structured to significantly reduce total compensation when our business performance and stock price are underperforming, we all agreed that this is the right step to take at this time.

Everybody's got a piece of it. What we're trying to do is look at each piece and say, 'Where are we really uncompetitive versus the people we run against?'... If we're out of line, that's what we need to work on. So, it may not be exactly the same sacrifice everywhere, but I think just about everybody's got a piece of it.

In his current assignment, Mike has led the team that has helped GM gain back market share in California. He's built strong relationships with dealers and employees in creating marketing initiatives, all of which should prove especially useful as we focus on additional key markets where we need to improve GM's performance.

Despite some speculation to the contrary, we at GM are still moving. In fact, we're taking some big steps to get moving fast in the right direction.

If all you do is read the headlines, you may not have as constructive a view of the outlook as we believe you could have.

We disagree with Delphi?s approach, but we anticipated that this step might be taken. GM expects Delphi to honor its public commitments to avoid any disruption to GM operations.

This transaction will allow us to preserve our business relationship, while further building up GM's already significant liquidity position during this critical phase of our turnaround.

Our relationship is strong, and we look forward to our continued partnership. This transaction will allow us to preserve our business relationship, while further building up GM's already significant liquidity position during this critical phase of our turnaround.

Over the last nine months we have been aggressively implementing our North American turnaround plan.

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