Rick Wagoner has released an official statement as he steps aside as Chief Executive Officer of General Motors. GM Message from Rick Wagoner On Friday I was in Washington for a meeting with Administration officials. In the course of that meeting, they requested that I “step aside” as CEO of GM, and so I have. [...]
After all the reports yesterday about GM’s Rick Wagoner resigning his position CEO as a requirement set by the government to get additional aid – General Motors has released an official statement about the changes to its executive team lineup. Wagoner, who has been CEO since 2000 and became chairman in 2003, will step down [...]
Just a day before President Barack Obama announces his plans to help General Motors and Chrysler LLC, Rick Wagoner has resigned his position as Chief Executive Officer of GM. According to a report by Reuters, Wagoner resigned after being pressured from the Obama administration on Sunday as the government prepares to announce the second round [...]
GM’s CEO Rick Wagoner said Tuesday that increasing the federal gas-tax to guarantee a minimum price of $4 a gallon is “worth of consideration.” Many industry leaders have aggressively opposed a gas-tax hike but GM, which is betting its future on high-priced, fuel-efficient vehicles, feels that it will push new car shoppers to purchase hybrid [...]
Speaking to a group of reporters during a breakfast sponsored by the Christian Science Monitor, GM CEO Rick Wagoner said that restructuring the company outside of bankruptcy court is the best option. However, Wagoner acknowledged that a pre-planned bankruptcy filing could work. “If we can accomplish 99 percent outside of court that we would inside [...]
General Motors CEO Rick Wagoner was one of the corporate executives who attended a meeting today with President Barack Obama. During a Business Roundtable discussion, Obama told the leaders of top American companies to “support policies that end the cycle of economic boom-and-bust.” According to Automotive News, in an offhand comment, Obama told the executives [...]
While some of you are wondering where our visitor zermatt is (zermatt being a very analytical individual who we feel is a great addition to our community), we’re guessing he’s unwinding after a very tiring visit to Detroit on Monday where President Obama’s auto task force visited General Motors and Chrysler. Either way, the auto [...]
According to documents filed with the Securities and Exchange Commission today, General Motors’ CEO Rick Wagoner was paid a total of $5.5 million in 2008. Wagoner received a salary of $2.1 million and earned no bonuses last year. His total 2008 compensation is down from his $14.1 million compensation in 2007, and 2009 isn’t looking any [...]
Following Chrysler’s meeting with Obama’s auto team yesterday, General Motors today wrapped up a 6-hour meeting with members of U.S. Treasury Department and the White House National Economic Council. GM’s CEO Rick Wagoner, COO Fritz Henderson and CFO Ray Young were among the executives that attended the meeting. Among the points discussed were GM’s request [...]
President Barack Obama on Wednesday imposed a $500,000 cap on senior executive pay for most of the financial institutions receiving taxpayer bailout money. He promised that new steps that will be taken to end a system that rewards “executives being rewarded for failure.” All of the Detroit 3 automakers have accepted $1 dollar salaries while [...]
