Mr.Goodwrench-G.T. wrote:Ya page 20
To bad it is old news as we all know what will happen to the Zeta platform.
Thanks Lutz!
MiKeDiRnTRuLeZ wrote:Mr.Goodwrench-G.T. wrote:Ya page 20
To bad it is old news as we all know what will happen to the Zeta platform.
Thanks Lutz!
Supposedly Lutz isn't the main man anymore. I have no idea if this article is true but worth checking out:
GM's Lutz, Cowger Give Up North American Positions
April 4 (Bloomberg) -- General Motors Corp. Chief Executive Rick Wagoner will take over North American duties from Vice Chairman Robert Lutz and Group Vice President Gary Cowger after the company forecast its biggest quarterly loss in 13 years.
Lutz will now deal with global product development and Cowger will focus on global manufacturing and labor, Detroit- based GM said in a statement today. The company last month slashed its annual profit forecast in half because of falling North American sales and rising costs.
Wagoner's ``neck is in the noose in North America,'' said David Cole, chairman of the Center for Automotive Research in Ann Arbor, Michigan. ``He is saying to shareholders that North America is going to get a full-court press.''
Wagoner is taking control of North America at a time when GM's U.S. market share has fallen to its lowest level in 80 years as Toyota Motor Corp. and other Asian rivals have gained ground. Wagoner said last month he will use lower prices and more advertising to increase sales as he focuses on cutting health care costs and restructuring the North American business.
Chief Financial Officer John Devine and Wagoner said March 16 the company will increase efforts to cut costs and restructure the North American business. The automaker cut North American production 12 percent after U.S. sales fell 5.1 percent in the first three months of the year.
`Trouble'
``There have been rumblings of Cowger being in trouble,'' said Burnham Securities Inc. Analyst David Healy. ``Lutz has been spending more time on global responsibilities, so it doesn't look to me like he's been kicked upstairs.''
Lutz's comments two weeks ago that the company would consider a ``phase-out'' of some lines and that its Pontiac and Buick brands were ``damaged'' may also have displeased Wagoner, Healy said. Lutz retreated from those statements last week in a Denver speech.
General Motors shares rose 7 cents to $29.45 at 10:26 a.m. in New York Stock Exchange composite trading. The shares have fallen 13 percent since the day before the March 16 forecast cut.