Posted on March 30th, 2009 • by David Zatz
In their rush to send out key details of Obama’s auto plan, many journalists ignored important information. This is the full text; other documents are available from the White House. One of the challenges we have confronted from the beginning of this administration is what to do about the state of our struggling auto industry. [...]
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Posted on March 30th, 2009 • by Bill Cawthon
The departure of Rick Wagoner is not the only big change coming to General Motors. Wagoner’s jobs as CEO and chairman of the board will be split. Fritz Henderson, who has been GM’s president and chief operating officer (COO), will replace Wagoner as chief executive officer (CEO). Kent Kresa, former chairman of Northrop Grumman, will [...]
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Posted on March 30th, 2009 • by Bill Cawthon
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. Fritz Henderson is an excellent choice to be the next CEO of GM. Having worked closely with Fritz for many years, I know [...]
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Posted on March 29th, 2009 • by Bill Cawthon
According to NBC News, General Motors Chairman and CEO Rick Wagoner was asked to resign his posts by President Barack Obama’s auto task force as a condition of further federal aid the the struggling automaker. An unidentified source supplied the information to reporter John Yang. The story was broken by Bloomberg News. The Associated Press [...]
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Posted on December 4th, 2008 • by Bill Cawthon
General Motors Corp and Chrysler LLC said they would be open to a merger if the federal government required it as a condition for emergency financing. The statement came as GM Chief Executive Rick Wagoner and Chrysler Chief Executive Bob Nardelli were testifying before the Senate Banking Committee and would appear to revive the chances [...]
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Posted on November 29th, 2008 • by Bill Cawthon
Chrysler CEO Robert Nardelli may need to get an early start for his next appearance on Capitol Hill. Following the uproar over the private jets used by all three CEOs of the Detroit automakers when they came to Washington to ask for federal bridge loans, Chrysler spokeswoman Lori McTavish says other travel arrangements are being [...]
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