wasteful spending, unions (people making more than they should for the job they are doing in places with low cost of living), pensions, covering spouses after death, too many chiefs not enough indians......Theres plenty more but blah. They need a CEO that has morals and can go in with their boots on and kick ass. Thats what will make them profitable.....thats what i would want as a shareholder. Wagner had 5+ years and they wen't down each and every year.
Wagoner work for a dollar? I have no sympathy. Thats just a front to make the public think he's doing something. Trust me, he was taken care of.
Wasteful spending.....lol, I used to work as a contractor for them. One of the VP's took us to one of the most expensive restaurants in the state. 14 of us. Bill was just under $1300 before tip. Sushi was flying everywhere. I just sat at the end and ate my steak (I don't eat bait) I got the feeling that was pretty normal for them. They are like cheap bacon. (GM) MUCH more fat than meat. Wagoner needs to be the first of many of the "good ol boy club"
Their thinking is always yesterday. They are allways a day late to the game with their old school mentality. Especially in the vehicle designes and interiors, weight problems and performance. They are still trying to sell the fricken trailblazer. Just saw it at the auto show and couldn't believe it. Go look at the interior of one. Same as when it came out in 02. Makes you feel like you are riding in a vehicle of the 90's since they borrowed a lot of the interior from the S-10. I could go on and on but i'll spare you.
The ones running the show, like wagoner are the ones that have been there for 20+ years and still live under the mentality that americans will buy GM because its the american thing to do, not because they have the best product which is they way it should be.
The only division who is worth a shit is cadillac and thats because they broke apart from the pack in 2003 and started making some really great vehicles that weren't your daddy's caddy. The rest of the divisions, still made boring cars that all borrow from each other as they have done for decades. Which is why you will say buh bye to pontiac next. Maybe decent trucks (thanks to Isuzu and Allison mostly) but not decent cars.
Bankruptcy was the right way to go. Not the governemnt taking control, regardless of political party. They sink or swim. No bailout,
with any company. You bail someone out, you prolong the inevidible. If nothing changes, nothing changes.
Sorry for the rant. (especially being new) I was an outside(contract employee) insider for GM for about 6 years. I told some of my colleages in 02 that they would go down in 5 years. Guess they made it a year farther then i thought.
it just pisses ya off because you want better for your own country....but yet you see a select group of people drive it into the ground
