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.
More Quotes from Rick Wagoner:
All of our business units except GM North America are on or above track, and that has the extreme attention of us all. Progress is moving in the right direction ... but we still have more work to do.Rick Wagoner
Frankly, we've done it in the fairest and most cost-effective way we could do it,
Rick Wagoner
We hope it eases up, but I can't obviously tell you've we've seen a lot of evidence of that,
Rick Wagoner
As we look at the responsibilities we have to a broad range of constituents, as we look at what we need to do to make the business successful, as we look at our businesses around the world, we think there are significant costs to bankruptcy. We don't think it's a good option.
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
GM had some notable sales successes as we continued to expand in key growth markets around the world in 2005.
Rick Wagoner
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