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Rick Wagoner, the man who helped run General Motors to the ground, will retire August 1 with a pension and benefit package the automaker valued at $8.2 million. Wagoner, who was in charge of the ...
Of course, news that General Motors (GM) C.E.O. Rick Wagoner had resigned. Skip to main content. 24/7 Help. For premium support please call: 800-290-4726 more ways to reach us ...
Wagoner resigned as chairman and CEO at General Motors on March 29, 2009, at the request of the White House. [1] [2] [3] The latter part of Wagoner's tenure as CEO of General Motors found him under heavy criticism as the market valuation of GM went down by more than 90% and the company lost more than US$82 billion. [4]
On December 19, 2008, Fitch Ratings downgraded the Issuer Default Rating of General Motors and Chrysler to "C", indicating "default is imminent". [101] A December 22, 2008, article from Bloomberg reported that General Motors and Ford "had their debt cut further below investment status by Standard & Poor's and Moody's Investors Service.
On May 27, 2009, the U.S. Treasury advanced a secured loan of US$360.6 million to GM, and GM issued a note to the Treasury for US$360.6 million, plus $24.1 million USD as additional compensation for the warranty advance, pursuant to the terms of the Warranty Agreement dated December 31, 2008, between GM and the U.S. Treasury. The loan funded a ...
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On June 3, 2008, GM Chairman Rick Wagoner announced that the Moraine plant would close in December, citing high fuel prices and decreased demand for the SUV and trucks produced by the plant. There were no plans to reconfigure the plant to produce other products. [ 1 ]
The Chevrolet brand was the main contributor to GM performance, with 4.76 million vehicles sold around the world in 2011, a global sales record. [196] Based on global sales in 2012, General Motors was ranked among the world's largest automakers. [197] In May 2012, GM recorded an 18.4% market share in the U.S. with stock imported. [198]