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“At this moment, the ball is in the Congress’ court.”
Hey! Does this mean Rick has a plan?
Man, this guy is much better at giving intelligent sounding answers that don’t actually answer the question than Sarah Palin.
Rick needs to ‘get out’ more. He keeps repeating his apparently sincere belief that he’s the best person for the job. It’s like a manager who continues letting a guy pinch hit who’s 0 for 100 because he’s the most experienced pinch hitter he has. He’s in a bubble, and the board lets the situation continue. Jerry York might be a jerk, or not, but at least he apparently wasn’t shy about challenging the status quo and Wagoner in particular. With some support from other board members, this approach would have forced Wagoner to deal with realities like declining levels of cash and market share and the coming bursting of the US credit bubble. Of course by challenging Wagoner York was also challenging the board. Interesting that York didn’t hang around to try to convince the buffoons. He presented his case; it was rejected, and he realized it was a lost cause and bailed. Too late now.
Talk about living in a dream world!!
“We’ll last as long as we can”
“I do have a son in college I have to pay for somehow”
Is he kidding??
Talk about disconnected.
Rick in response to the $1/year salary question: “I do have a son in college that I have to pay for somehow”
My parents put 2 kids through college on a substantially smaller annual salary then Rick makes in 1 day ($14.4 million / 260 working days = $55k).
I couldn’t believe he would actually say that, even in jest. Wow.
“Nobody’s asked me about resigning. You know, I think at at a time like this, we need the best management team possible.”
It has apparently escaped Wagoner’s notice that the current “management team” is the one that’s put GM in “a time like this” in the first place. Or else, he’s got an incredibly sly sense of irony.
A management team well tied into epic failure…
“But I dont, and have never had any kind of an employment contract, or golden parachute, and I still don’t”
Liar, liar, pants on fire!
Hilarious! He may be a shit CEO but he’s a hell of a comedian.
He should have a weekly sitcom.
You could cast Ed Begley Jr to play Rick. It would be even better than Arrested Development! Too bad it wouldn’t last 3 seasons though, because GM doesn’t have that much time left.
I do have a son in college that I have to pay for somehow
Is this worse than when Latrell Spreewell said he had “a family to feed” after being offered a 3 year/$21M contract?
Wow!!! With an idiot like him at the helm, GM deserves to die. I don’t he can be anymore disconnected, and deflective. GM is in dire straights, and he has the gall to state that the financial future of the company rests in the hand of the federal government. I find it appalling that the board of directors allows him to lead.
Sign me up for a subscription to The Detroit Free Press! Woodward and Bernstein got nothing on these pit bulls.
I think the low point in this one is “what do you say to the American consumer?”
wow.. he reallly made me want to buy a pontiac with that one.
I am still amazed that no disgrunted UAW employee has tried to take this guy out. I can not believe this guy is still leading they don’t deserve one cent of our money with an unhumble a$$hole like that at the top.
Maybe “red ink rick” should look towards employing
this guy, his name is Prof Hiroshi Shimzu and has built an electric supercar capable of 400 km/phr
and will go 260 kms on one charge ! the crazy thing is that it was built 4 years ago , and cost
a little over half a million dollars to bring it up to the pre prodution stage.
OK I realise that it is a prototype but it shows what can be done if one is truly interested and have a little vision , it also puts GM’s efforts with the volt to shame !
It may also interest you to know that so far there has been very little interest from the mainstream auto companies !
So if you have a little time and would like to be
cured of the “golf cart” attitude towards the electric car watch this video
http://www.youtube.com/watch?v=J95Lh3NnL4A
I promise you it has more in common with an F16
fighter jet than a car , enjoy!
I’ve taken a lot of ribbing from people who don’t share my Marxism-Lite view of how stratified socioeconomic classes really do exist in modern society, regardless of our pretenses of egalitarianism.
Rick isn’t quite new American Aristocracy, but he’s not at all a working-class hero, either. He’s also showing a disturbing lack of concrete understanding of how things really are. A son in college that you have to pay for? I know the US system is badly funded, but I don’t think that he’s exactly hurting for income unless he’s been as foolish with his own money as he has with his employer’s.
I still think GM should be bailed out, but I don’t think Rick et al should stay, let alone get credit for enabling it.
If any of you have seen him talk in relatively informal settings with the media before, you’d know he has a sense of humor, and actually pokes fun at himself a lot. For pete’s sake, the man was joking, he was even smiling when he said it.
“But I dont, and have never had any kind of an employment contract, or golden parachute, and I still don’t”
Liar, liar, pants on fire!
If you’re calling the man a liar, you must have better information…can you share it with us?
I watch the industry closely, and when asked by neutral folks outside of the business what I think about GM and Rick Wagoner, I’ll be honest and say that in some ways Rick has done well and in some ways he hasn’t. I’m not strongly pro-Rick or anti-Rick, and as a result, I can usually argue either side. But no matter what the topic is, whether it’s business or politics, it ticks me off when people, and the media, take things out of context just to make a person look bad. The man wasn’t serious. Get over it.
“I do have a son in college I have to pay for somehow”
It’d be a pity if the lazy $#!+ had to quit partying and living large on daddy’s millions and get a job bagging groceries or flipping burgers and actually WORK to put himself through college like I did, wouldn’t it?
Maybe he’d have a better grasp of reality than his old man has if he did.
Rickie lives in another universe.
I put two kids though college and paid off my mortgage on $55k a year.
Unfortunately, I also bought a Blazer.
He was joking, no doubt.
But now is not the time to joke. Now is the time for him to show humility and compassion for all the GM employees and suppliers that won’t be able to make house payments, much less pay for kids college.
How completely insensitive and truely pathetic that he jokes about something all of the employees who’s lives hang in the balance must actually worry about.
I find this system we have pathetic. A system where the people running these companies into the ground, still keep getting richer and richer.
To punctuate this thread, I give you “The Free Market Clapper”:
The Free Market Clapper
CLAP ON! CLAP OFF! THE CLAPPER!
A perfect indictment of this country’s current pathetic economic state.
Seriously? The whole college line is just BS. Haven’t people at lower levels been fired for less serious blunders?
Our leaders would really consider giving money to a company led by this guy?
Haev you heard of student loans? Go in debt like the rest of us! F’ing tool.