General Motors Company’s CEO Fritz Henderson is in Germany meeting with leaders of Opel to discuss the brand’s future. Opel spokesman Ulrich Weber said that Henderson wanted to get a firsthand look at the situation at Opel headquarters in Ruesselsheim. The talks today ended without any clear plans for the future of Opel’s five plants [...]
General Motors is thus far out performing the estimates of their own viability plan that was conceived before their June bankruptcy, according to Automotive News. “I’m not going to get into whether we’re generating cash or not generating cash, but I would certainly say the situation is more stable than what the outlook was even [...]
General Motors Company CEO Fritz Henderson told lawmakers in Washington yesterday that the Detroit automaker plans on restoring a limited number of dealers that were “mistakenly terminated.” He said that GM would not provide them any compensation since it already provided financial assistance when the wind-down plans were in effect. Rep. Pete Hoekstra, R-Mich., said [...]
Late last week, the Obama Administration ordered seven companies who received a significant amount of federal loan to cut the salaries of their top-level executives by an average of 90 percent and cut total compensation (including cash, stock and perks) by half. General Motors CEO Fritz Henderson was amongst the many executives who saw government-imposed [...]
General Motors Company’s CEO Fritz Henderson will see his annual salary cut by 25 percent as a part of Obama’s pay reduction for the top 175 executives at seven companies that received significant federal bailout money. Fritz’s annual salary will fall to $950,000 a year. The U.S. Treasury did not identify the top earners at [...]
General Motors Co. is gunning for the Asian market; big-time. According to freep.com, GM’s sales in China for the period covering January – September surged 55% over the previous year, with nearly 1.3 million units moved. The overall market growth in China this year has been 34%, with a total of 9.6 million vehicles sold [...]
Evan Newmark, of The Wall Street Journal, believes that GM CEO Fritz Henderson deserves the Nobel Peace Prize more than Barack Obama. In his column ‘Meant Street’, Newmark wrote of Henderson that he “has to save GM, once America’s proudest company and now its national disgrace,” and he doesn’t have the four year grace period [...]
During a live chat session with General Motors Company’s CEO Fritz Henderson last week on GM’s FastLane Blog, the head of the Detroit automaker was asked what cars he has in his garage right now. Fritz replied that he owns a “Camaro, my 2005 corvette and a Saab 9-3 Aero Convertible.” Henderson did not specify [...]
During General Motors’ 90-day progress report yesterday, CEO Fritz Henderson said that GM has about 10,500 more U.S. workers than called for by year’s end under its previously stated turnaround plan. Since it came out of bankruptcy three months ago, GM has cut its U.S. hourly workforce by 21 percent and salaried ranks by 18.2 [...]
As American taxpayers, everyone of us holds a stake in the new GM. Not to worry though, because according to CEO Fritz Henderson, GM is on track to meet all targets set forth in their government-sponsored bankruptcy. He said that GM is in a position to cut costs and reduce debt enough to be a [...]
