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.
More Quotes from Rick Wagoner:
Stan O'Neal has been a great asset on the GM Board and to General Motors management over his 5 years of service as a director. We are grateful for his many positive contributions to General Motors and wish him the best.Rick Wagoner
We are viewing the U.S. economic and auto market environment with considerable caution, ... That, combined with our poor business results in the first three quarters this year, really highlight that we are at a critical juncture in our company's history. And so we are accelerating the pace and scope of our turnaround actions.
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
A lot of times, people will get down on the situation with the unions and with the UAW. But this wouldn't have worked without good engagement at the local level with the UAW. They understand that improving quality and productivity is important for their long-term success as well. It's been a real team sport.
Rick Wagoner
We believe in fair exchange rates and Japan doesn't practice that. They have massive U.S. dollar reserves, and they use them to intervene regularly.
Rick Wagoner
Despite some speculation to the contrary, we at GM are still moving. In fact, we're taking some big steps to get moving fast in the right direction.
Rick Wagoner
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