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Wagoner on resigning in exchange for Fed aid: "I don't think it'd be a very smart move".

Chazman

By Chazman
in General Motors

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smk4565 Mentor

smk4565

Posted
Posted

Wagoner should go, he has overseen the demise of the company or 8 years. He, the board, and other officers got them into this mess, I doubt they know how to get out of it. The current group if they get a $25 billion loan will just use the same failed strategy they have used the past 4 years and use the money to fund the cash burn, while they close some factories and lay some people off and have red tag sales on cars with platforms from 1990.

Problem is, Wagoner wants the $25 billion loan, but never said how they will pay it back. They couldn't make money in a good economy with 17 million volume, they may never make profit again.

The product lineup overall isn't good enough, there are a few good products, but many more outdated ones. Ford is the only one of the Detroit 3 doing the right thing, they are accelerating new products, while GM and Chrysler delay them.

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Camino LS6

Posted
Posted
Wagoner should go, he has overseen the demise of the company or 8 years. He, the board, and other officers got them into this mess, I doubt they know how to get out of it. The current group if they get a $25 billion loan will just use the same failed strategy they have used the past 4 years and use the money to fund the cash burn, while they close some factories and lay some people off and have red tag sales on cars with platforms from 1990.

Problem is, Wagoner wants the $25 billion loan, but never said how they will pay it back. They couldn't make money in a good economy with 17 million volume, they may never make profit again.

The product lineup overall isn't good enough, there are a few good products, but many more outdated ones. Ford is the only one of the Detroit 3 doing the right thing, they are accelerating new products, while GM and Chrysler delay them.

And you will make the same post over, and over, and over.....

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