A message to the troops from GM’s VP of sales and marketing for GM North America:
Today’s submission of our annual report has generated a significant amount of media speculation about GM. Specifically, the media are covering the auditor’s language about whether or not we are a ‘going concern.’
Let me be clear — neither is this “new” news, nor does it change our viability plan to succeed.
For months we have explained the need to restructure and recapitalize our business for the long-term. As dealers, you are integral to that long-term success. Dialogue with the Auto Task Force team in Washington is ongoing, and we remain focused on implementing our viability plan.
So, here’s what I’d ask of each of you: Stay focused on the business, not the media hysteria. Reassure your customers that we are here for the long haul and that we’ve overcome challenges many times before in our 100 year history. Also remind customers that we deeply appreciate their business and support. For new customers, take a few extra minutes to show them the great GM cars and trucks we offer, and demonstrate our commitment to the best service in the industry.
As always, we are very appreciative of your support and welcome your continued comments.
The statement we are using in response to media questions is attached for your reference.
Mark LaNeve
And here it is, the GM dealers’ NSFWstorm umbrella, ella, ella, ay, ay.
GM Statement Regarding Auditors’ ‘Going Concern’ Opinion Included in the Company’s 2008 10-K Filing
Auditors are required to assess whether there is substantial doubt about an entity’s ability to continue as a going concern over the next year. Given GM’s public statements on our liquidity position dating back to the end of 2008 and more fully disclosed in our February 17 viability plan submission, the opinion rendered in our 10-K was not unexpected.
That opinion is dependent on a number of factors including our ability to execute our viability plan, compliance with our U.S. Treasury loans, volume recovery of the industry, and access to additional funding from the U.S. and certain other governments. Once global automotive sales recover and GM’s restructuring actions generate the anticipated savings and benefits, the company is expected to again be able to fund its own operating requirements.
The auditor’s opinion has no impact on the aggressive actions we are taking to restructure our business for long-term viability.
###
Forward-Looking Statements
In this press release and in related comments by our management, our use of the words “expect,” “anticipate,” “ensure,” “promote,” “target,” “believe,” “improve,” “intend,” “enable,” “continue,” “will,” “may,” “would,” “could,” “should,” “project,” “projected,” “positioned” or similar expressions is intended to identify forward-looking statements that represent our current judgment about possible future events. We believe these judgments are reasonable, but these statements are not guarantees of any events or financial results, and our actual results may differ materially due to a variety of important factors. Among other items, such factors might include: our ability to comply with the requirements of our credit agreement with the U.S. Treasury; the availability of funding for future loans under that credit agreement; our ability to execute the restructuring plans that we have disclosed, our ability to maintain adequate liquidity and financing sources and an appropriate level of debt; and changes in general economic conditions, market acceptance of our products; shortages of and price volatility for fuel; significant changes in the competitive environment and the effect of competition on our markets, including on our pricing policies, financing sources and an appropriate level of debt; and changes in general economic conditions.
When LaNeve says, “Let me be clear — neither is this “new” news, nor does it change our viability plan to succeed.”
Does that really mean, “We’ve known we’re up Sh!t Creek for a lot longer than we’ve been admitting.”
?
I’ve never read anything quite like the “forward looking statements” paragraph before. Rather amusing. “We are saying we will succeed, but all of these things, and things we haven’t even thought of, could cause us to fail, but that’s not our fault, so don’t think about it.”
Now if your a Saturn, hummer, or Saab GM dealer, what do you say to reassure the buyer that he is not taking out the last model soon to be an orphan? I know, you tell them that at least five buyers are presently standing in line to take over the brand from the general. You just make sure the customer stays focused away from: Consumers reports, resale value, parts, warranty and service when the showroom he is standing in closes. Other than that, he should still buy the car. After all,the customer pays what we pay, whatever that does.
to bad Lehman Brothers didn’t think of a forward looking statement, they might still be around.
The guys job title reads VP Sales and Marketing.
Yesterdays news was hardly uplifting to any of us connected to GM.
What exactly should the VP of sales and Marketing have said?Its his job to settle dealers down.As nasty as it all is,and who knows what tomorrow may bring?As of right now GM is still in the buisness of selling cars.Mark LaNeves job is to do just that.
“Reassure your customers that we are here for the long haul”.They either know something we don’t or straws are being grasped.
“For new customers, take a few extra minutes to show them the great GM cars and trucks we offer,..”
Last week in a BPG dealership I was shown the leatherette in an $18K Pontiac G3. Hotness.
GM Marketing Maven Mark LaNeve to Dealers: My generous pension is bankruptcy proof, and I don’t plan to give back a dime of the tens of millions of dollars I’ve pulled out of GM in recent years.
Also remind customers that we deeply appreciate their business and support.
I don’t think remind is the correct verb in this instance as it implies that they have done it before…
It’s his job to keep the dealer body in the loop and aware of the Corporation’s situation.
Hilarious. Must have been taken from the same playbook that Oldsmobile salesguys got trained in when selling the Intrigue a few yrs before they disappeared.
I was asked after test driving the Intrigue, “So, are you Intrigued?”.
I remember thinking, “Really? Someone in sales training thought this was a good sales line?”
As of right now GM is still in the buisness of selling cars.Mark LaNeves job is to do just that.
Then he should have been fired years ago, because he absolutely sucks at it.
I was Intrigued by the possibility of becoming an Achieva. or not.
So when this all becomes a movie, they’ll pick Kevin Bacon to play Mark LaNeve. You should recall Mr. Bacon as a young ROTC recruit in the parade scene in “Animal House.”
“Now if your a Saturn, hummer, or Saab GM dealer, what do you say to reassure the buyer that he is not taking out the last model soon to be an orphan?”
Yesterday, KRQE News 13 in Albuquerque, NM reported that the one Saturn dealer is closing their doors very soon (I forgot the actual date). However, they are reassuring customers that they can get their cars serviced at the Chevy dealer down the street. I dunno…
crc:
They actually expect you to pay 18g for an AVEO in Pontiac guise?
That funny.
REAL MONEY?