Thursday, August 12, 2010
People were actually fired at GM, LaNeve and Docherty out of marketing, Reuss in charge of North America, at least the direct loan repaid to the government, a CFO brought in who actually understands financial reporting, two quarters of solid profit, European operations headed to breakeven, and an IPO in the works.
Incentives good for 60 days instead of 6 minutes, no Red Toe Tag sales on Memorial Day and 4th of July, Cadillac execs put to work in dealerships for real world experience, letters of intent reopening franchises, and an outsider whiz kid brought in to run sales.
Yes there are some questions like why surrender control of China for $85 million, but on the whole Mr Whitacre did a lot for GM. For the first time in decades there is accountability for performance and we are seeing results instead of excuses.
yeah you did ok EW.