GM Press Conference Coverage - 01/25/2010

[Drew Dowdell]

GM Press Conference

January 25th 2010

Drew Dowdell - Ed Whitacre called a press conference today to discuss changes to GM. Ed will be taking the helm of GM as it's permanent CEO. Mr. Whitacre said, "We've come a long way in a short time."

GM will be repaying it's loans from the U.S. and Canadian government in full by June 2010.

No change in direction of Saab wind down.

No big changes, "I've been doing the job as if I were a permanent CEO" - Ed

Ed will still be commuting from Texas but will spend a lot more time in Detroit.

Ed wasn't intending to stay as CEO, but grew comfortable with the people and the company, and he got "sucked in".

Ed will be both Chairman and CEO as long as he's doing this.

No massive organizational changes.

Ed as CEO is good for this country.

"We're all motivated to the same thing, design and build the best vehicles in the world"

Dealer arbitration won't effect GM's momentum forward.

[gm4life]

Great news, I cannot say I am surprised, certainly better than Fritz the ditz. Now bring on the Zeta's!

Edited January 25, 2010 by gm4life

[Justin Bimmer]

His commuting from Texas to Detroit kind of reminds me of our Governor, The Terminator, who flies from LA to Sacramento to do his job.

[CSpec]

He looks kinda like Dubya in that picture.