On Friday I was in Washington for a meeting with Administration officials. In the course of that meeting, they requested that I 'step aside' as CEO of GM, and so I have.
More Quotes from Rick Wagoner:
I think it's going to be silly not to take the competitive threat seriously. If we haven't learned any lessons from Japan and Korea, we deserve the things that befall us, ... On the flip side, the growth in China continues to be so strong that our guess is that most of the capacity in China will be used to meet Chinese needs.Rick Wagoner
GM had some notable sales successes as we continued to expand in key growth markets around the world in 2005.
Rick Wagoner
DETROIT - General Motors Corp. chairman and CEO Rick Wagoner said Tuesday that the automaker's turnaround plan for its North American division is on track, but he wouldn't update the company's earnings forecast. GM withdrew its earnings guidance in April after it lost 1.1 billion in the first quarter. Wagoner noted that the company had previously estimated earnings of 4 to 5 a share for the year. We will not meet that, ... North America is missing, and missing badly.
Rick Wagoner
The recent discovery of prior-year accounting errors has been extremely disappointing and embarrassing to all of us. Credibility is paramount, for GM as a company and for me personally.
Rick Wagoner
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.
Rick Wagoner
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