137 ordspråk av Rick Wagoner

Rick Wagoner

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We would welcome a more proactive role from elected officials at the national and state levels in broad-based strategies to address the U.S. health care crisis.

It's clear that the U.S. market and economic conditions have become significantly more uncertain. Overall we remain very bullish on the prospects for the auto industry in the U.S. and globally but at this point we are viewing the U.S. economy and auto market environment with considerable caution.

That's silly. Fritz took the CFO job because I asked him to, and the board approved. It was a logical progression in his career and I hope Fritz continues to develop and grow. One of my most important jobs as chairman of GM is to identify and grow talent.

It was a year in which two significant fundamental weaknesses in our North American operations were fully exposed - our huge legacy cost burden and our inability to adjust structural costs in line with revenue.

In order to improve financial results in 2006 and 2007, we are moving quickly to implement several important actions that will address these weaknesses in North America. And we have a good line of sight on the steps we need to take to further reduce structural costs on a global basis that will position GM for long-term success.

I want to be clear I'm not saying we expect the government to pick these expenses up. I think they've made it very clear they don't intend to do that, at least the current administration.

Jerry brings years of business experience and knowledge of the automotive industry to the GM board. We are pleased to welcome him to our Board.

Stan O'Neal has been a great asset on the GM Board and to General Motors management over his 5 years of service as a director. We are grateful for his many positive contributions to General Motors and wish him the best.

These are difficult decisions that involve sacrifices by our employees, stockholders, retirees and the senior leadership team.

This is a difficult but necessary decision, and it was made only after the greatest deliberation. A number of other U.S. companies have already taken similar action in the face of these rising costs and increasing global competition. In particular, U.S. health-care costs continue to rise at high rates. When these benefits were conceived decades ago, no one could have foreseen the explosive cost inflation that we have been experiencing in recent years. These costs are simply not sustainable.

We have decided to substantially alter the pension benefits for current U.S. salaried employees so that we can provide a competitive and fair benefit but also reduce the financial risks to GM.

This is the kind of thing we need to do. I don't have a big scoreboard in my office, depicting which groups had taken cuts. I think you can say the whole family is participating in the effort to turn GM around.

We are confronting a dramatic change in our industry and in the global competitive environment, and that requires us to look for additional ways to reduce financial risk and improve our competitiveness for the long term.

I don't see a big panacea reducing the number of brands we have.

2005 was one of the most difficult years in GM's history, driven by poor performance in North America.

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