Search results
Results From The WOW.Com Content Network
In negotiations with Chrysler and GM (GM), management has made sacrifices. Salaries have been cut or capped. Rick Wagoner lost his job. The UAW has made huge concessions on pay and the funding of ...
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 ...
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 ]
Combined with an ongoing employee buy-out program, layoffs totaled around 750 jobs in July 2008. [11] During GM's annual shareholder meeting on June 3, 2008, CEO Rick Wagoner announced that the Janesville assembly plant would close by 2010, along with three other GM factories, and could close sooner if the market dictated. [12]
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 ...
Of course, news that General Motors (GM) C.E.O. Rick Wagoner had resigned. It's a down day, but in a sense it's an up day for the U.S. auto sector, since recent developments may mark the beginning ...
By Dimitri A.C. Ly, Career Advisor It's no secret that poor leadership can leave a business in ruins. Consider General Motors' former C.E.O., Rick Wagoner, whose questionable guidance cost the ...
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.