To all General Motors Dealers:
On Tuesday, Feb. 17, GM will submit an updated viability plan to the U.S. Treasury. The document will outline a significant restructuring of the company, along with demonstrating that we have a detailed plan for long-term, sustainable success as a viable, global enterprise.
Because this plan submission is of vital interest to you, I wanted to make you aware of some key activities regarding the plan submission:
• Tuesday, Feb. 17, evening (exact time TBD) — GM will issue a news release confirming the submission of the plan, outlining key elements of the plan including economic assumptions, restructuring activities and the status of key deliverables from the original submission. We will send you this news release when it is issued. Also, a separate letter with more detailed information will be sent to dealers of brands that are addressed by specific elements of the plan.
• Tuesday, Feb. 17, evening (exact time TBD) — Rick Wagoner and Fritz Henderson will host a news conference about the viability plan update at GM headquarters in Detroit. Depending on the time of the press conference, we may be able to offer viewing or listening capability of the event. We will send information once we have confirmation.
My team and I will also be conducting conference calls with various GM dealer councils and advisory groups on both Feb. 17 and 18 as appropriate. Council members will be receiving separate advance notification for any such calls from me or their Channel leaders. In addition, please be aware of the following:
• Wednesday, Feb. 18, 1:30 – 2:30 p.m. — I will host an IDL Satellite broadcast to all GM dealers in the U.S. You may view the broadcast by selecting Channel 4.
• Thursday, Feb. 19: We plan to send a GM eNews to all U.S. Dealers recapping all of the information from earlier in the week.
My team and I will also be conducting conference calls with various GM dealer councils and advisory groups on both Feb. 17 and 18 as appropriate. Council members will be receiving separate advance notification for any such calls from me or their Channel leaders. In addition, please be aware of the following:
I realize this is an extremely difficult time for all of us and we appreciate your ongoing support. And while a lot of our attention will be focused on the viability plan update the next few days, we cannot lose focus on our customers. Our intention is to communicate with you and other key stakeholders as early and as often as possible. However, due to the cadence and confidentiality of the viability plan submissions and intense media interest, there will most likely be news reports filed prior to our formal communications with you. Hopefully, the series of communications activities we have scheduled will keep everyone fully informed.
As you continue to work with customers today and in the weeks and months ahead, please let them know that we value their business and appreciate their loyalty. You can assure your customers that GM stands fully behind the warranties on all GM products and that now is a great time to purchase a new GM vehicle. We are more committed than ever to making every car and truck we build a winner, and to helping you provide your customers the best ownership experience in the industry.
Thanks again for your continued support, and I encourage all of you to participate in the several information opportunities outlined above.
Mark LaNeve
GM North America Vice President
Vehicle Sales, Service and Marketing
I’m confident TTAC will share this news with us folks that depend on this site for information.
How can they not yet know the time a press release will come out?
“You can assure your customers that GM stands fully behind the warranties on all GM products… “
Does this foreshadow the announcement that certain brands will be killed off?
Should the word “confidential” appear anywhere in relation to GM anymore, especially with regards dealings with Governments???
How can they not yet know the time a press release will come out?
From what I’m reading, because they don’t know what’ll be in it. There seems to be some serious head-knocking going on. This isn’t going to be a plan by GM execs; it’ll be a plan that was forced down the throats of all the players, and it’ll take a few days/weeks for the gagging to subside.
Weird, he says “we cannot lose focus on our customers”. So now they’re suddenly going to care about their customers? Seems like losing focus is what got them into this whole mess 30 years ago. The credit crisis just made it apparent to everyone else that wasn’t reading TTAC.
Something is not quite right here.
* $4b ahead of time; the plan has already been shown to Treasury. No achievements.
* Release to dealers about standing behind warranty.
* A Taskforce about to be appointed to oversea the mess.
* $18b lined up for suppliers (maybe).
* Previous bad news days on bond holders and UAW negotiations.
* Dec/Jan worst selling months in 5-8 years, with little likelihood of up-tick.
* Nary a word from Chrysler.
Are GM about to admit defeat and go for Chapter 11 or accept a forced marriage with Chrysler?
Doesn’t seem like the market has much faith in GM.
GM’s stock has plunged 16% (40 cents).
No matter what they announce, I don’t think many people will be impressed. If they, as I suspect, announce a load of plant closures in Europe (including closing the Vauxhall, Ellesmere Port plant), then, GM will lose a lot of customers in Europe.
GM’s stock has plunged 16% (40 cents).
I guess Mrs. Wagoner’s delicious Lemon Bars didn’t sell as well as expected at GM’s Bake Sale to keep the company afloat. I kid, I think.
Happy_Endings: Sales were cannibalized by Mrs LaNeve’s “We Bake Excitement” Lemon Bars and Mrs Lutz Lemon Barz With Nutz…….
‘Dealers, I wanted you to be the first to know that you along with our salaried employees will be the last to know about our plan. Remember to check DetNews for updates.’
What on Earth is going on with this man’s eye make-up??? and the watch?
In these exciting times, remember what the TTAC brand means to us little guys. We want full details, and we want to know … yes, what is up with the makeup and the watch? No, we don’t need to know about his hair – I’m assuming it’s a dead … tumbleweed-looking rodent?
Frankenstein.