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davepamn

M$1.00 Funded By Mahalo ? | March 30, 2009 03:36 PM

What are the key events leading to Wagoner's resignation?

http://uk.news.yahoo.com/22/20090330/tpl-uk-gm-timeline-d1a0d5d.html

Which events justifibly required Wagoner to resign?

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dcanswerer

March 31, 2009 01:51 PM

I think the main problem was the complete lack of foresight. In the early part of this decade, (when Wagoner was the head of the company), it was clear to everybody in America except for the big 3 CEOs that car buyers wanted hybrid cars. But Detroit resisted so hard for so long that Japan and Korea completely ate our lunch on that. It was only after the Prius and others were HUGE sensations that GM started coming out with hybrid cars.

GM (and as its head, Wagoner) let other manufacturers get way out in front of them, which is why they are having more problems than any other car company. It is also why he was the only CEO asked to resign.

Asker's Rating:

• Retooling a production plant cost hundreds of millions of dollars. GM had the technology & innovation. However, Incremental change cost less money. Structural change was unlikely. GM was too comfortable to change.

Market trend showed emerging countries where buying GM vehicles, at in increasing rate. Wagoner claimed that GM foreign sales was about 2 million units.

The GM strategy seemed to be a focus on environmental and alternate energy transformation and expansion of foreign unit sales.

GM should have sold off all its non-profitable divisions and moved production to China

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