GM's Wagoner Staying Put
December 19, 2008

By Michelle Krebs

General Motors Rick Wagoner is staying on the job.

"Do you think I would have gone through what I did the last two months if I were thinking of leaving," Wagoner asked a reporter during Friday's news conference on GM and Chrysler receiving government loans.

Indeed, numerous people from various quarters, including U.S. Congress, had called for the resignation of Wagoner, who has led GM for the past eight years when it racked up billions in losses.

"I'm absolutely not leaving," Wagoner said adamantly. "We're more energized than ever now that we have funding."

And how do he and GM win the confidence of the American people, he was asked. "Test drive a Chevy Malibu," Wagoner said in forceful salesmanlike talk that he should have used during Congressional hearings.

"It's the best midsize car in America, and we're doing that kind of product time and time again," he said.

He said he's frustrated that GM's progress in product, technology and the competitiveness of its workforce has not been fully appreciated. "We're on the right track and we'll have to re-double our efforts."

Wagoner admitted the situation has caused everyone at GM to focus on how business has been done and how it should change in the future. "I'd never wish this kind of crisis on our country, our industry, our company or our people," he said. "But it has led us to look at everything we've done historically and consider what to change to make GM viable for the future. We're asking what else can we do?

"It's difficult," he said, "But we have an opportunity once and for all to eliminate the negative side of 100 years of history and look forward to the next 100 years without burden of history."

Posted by Michelle Krebs at 8:53 AM under GM , Personalities | Comments (5) | digg this | Seed Newsvine

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