G. Richard "Rick" Wagoner
December 2008: "The prospective dealer shutdowns would be an acceleration of a trend that goes back a decade. General Motors, which had 8,150 dealerships in 2000, has pared that number to 6,400 as its share of the car market has shrunk. In the plan that Rick Wagoner, G.M.’s chief executive, presented to Congress last week to save the company, he called for reducing that number to 4,700 over the next three years."http://www.nytimes.com/2008/12/09/business/09dealers.html
September 2007: 'This agreement helps us close the fundamental competitive gaps that exist in our business,' GM Chairman G. Richard Wagoner Jr. said. 'The projected competitive improvements in this agreement will allow us to maintain a strong manufacturing presence in the United States along with significant future investments.'http://www.washingtonpost.com/wp-dyn/content/article/2007/09/26/AR2007092600155.html
March 2006: 'When a company shifts to a 401(k), the risks don't disappear; they are simply shifted to the worker. General Motors Chairman Rick Wagoner acknowledged as much as the company announced the freezing of its pension plans for white-collar workers. "These changes will reduce financial risks . . . for GM," he said.'http://www.washingtonpost.com/wp-dyn/content/article/2006/03/11/AR2006031100149.html
Role Name Type Last Updated Organization Head/Leader (past or present) General Motors Corporation (GM) Organization Jun 14, 2006
Articles and Resources
Date Fairness.com Resource Read it at: Dec 09, 2008 Car Dealers Brace for Closings, or for a Fight, as Detroit Seeks Help
QUOTE: It is possible fights could erupt between some dealers and the auto companies. Virtually every state has stringent laws that make it difficult for manufacturers to alter dealer contracts, even when they abandon brands, as General Motors is talking about doing. These laws have been a big impediment to auto companies in the past as they sought to cut their dealer networks.
New York Times Nov 26, 2008 Dumb And Dumber--And Dumbest
QUOTE: the inexplicably callous, clueless and trust-destructing behavior we have recently seen from so many big businesses that have been central players in this unprecedented economic meltdown.
Forbes Sep 27, 2007 GM, Union Agree on Contract to End Strike: Deal Seen as Model Across Industries
QUOTE: The 1950 deal set relations between the UAW and Detroit's Big Three for the second half of the 20th century. It established a blue-collar middle class but became increasingly oppressive to automakers faced with floods of cheaper, popular imports. At the core of the new deal is the transfer of retiree health-care payments from GM to the UAW. GM will pay an estimated $35 billion into a trust designed to appreciate in value and pay health-care benefits for retired workers for at least the next 80 years, the union estimated. In return, GM is able to unload a $51 billion burden in retiree health-care obligations from its books...
Washington Post Mar 12, 2006 Do the Math For Lost Pensions
QUOTE: As company after company across the country freezes or terminates traditional pensions, typically at the same time shifting to new or sweetened 401(k) plans, workers face a new and very important question: How much do I need to save to make up for pension benefits I was expecting and now won't get?
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