**GM preparing for bankruptcy**

[vztrt]

http://www.caradvice.com.au/43955/gm...on-to-chinese/

GM Hummer to sell for $165 million to Chinese

October 9, 2009 by Alborz Fallah

General Motors is working hard to restructure itself to become profitable once again, as part of that process it needs to shed its non-profitable brands as quickly as possible.

One of the lowest performing brands in the GM stable is Hummer which is expected to sell to China’s Sichuan Tengzhong Heavy Industrial Machinery Co. for about $150 million USD ($165 million) either today or tomorrow, according to overseas news reports.

Sichuan Tengzhong Heavy Industrial Machinery Co has never ran a car company before so like everyone else, we are interested in how Hummer will look in the near future.

Previously GM CEO Fritz Henderson had estimated that Hummer may cash up GM by up to “$500 million or more,” a figure far from the current $150 million.

Apart from Hummer, GM’s Saturn brand now seems destined for closure as the deal with Penske Automotive Group fell through last week. Penske had planned to use the Saturn brand to sell Renault based vehicles but the idea did not receive approval from Renault’s board.

As for the sale of its Swedish brand Saab, our friends over at Koenigsegg AB should take over ownership after all the paper work is signed and finished by the end of this month.

GM is also dropping its Pontiac brand (much to the disappointment of Holden here) but maintaining Chevrolet, Buick, GMC and Cadillac.

[Bossxr8]

Hummers were a form of patriotic American status symbol. I wonder how the average Joe will feel about Hummer when they find out its Chinese owned now.

[Chilliman]

Wow, GM must be desperate - they accepted $350Million less than what they expected to get for the sale. No wonder they're bankrupt!

[vztrt]

GM signs Hummer sale deal with China’s Tengzhong

http://www.goauto.com.au/mellor/mell...25764D0014479E

General Motors and Tengzhong enter into ‘definitive agreement’ over Hummer sale

12 October 2009

By TERRY MARTIN

THE future of Hummer in Australia, including its management and retail operations, remains unclear after General Motors last week signed a “definitive agreement” to sell the military off-road brand to China’s Sichuan Tengzhong Heavy Industrial Machinery Co.

The conclusion of the deal to sell Hummer came a week after GM’s agreement to sell its Saturn brand to the Penske Automotive Group collapsed at the last minute.

The successful sale of Hummer has also been in doubt since a preliminary agreement was signed on June 2 – a day after GM filed for Chapter 11 bankruptcy protection in the US – as reports out of China indicated that Tengzhong faced a number of financial and regulatory hurdles.

Those appear to have now been resolved, with Tengzhong set to purchase Hummer through an investment entity in which it holds an 80 per cent stake. A private entrepreneur, Suolang Duoji, whose holdings include the Hong Kong-listed chemical producer Lumena, will hold the remaining 20 per cent stake.

Financial terms of the agreement have not been disclosed, but overseas reports place the purchase price at $US150 million ($A166 million).

Under the agreement, which is still subject to final approval by government agencies in the US and China, Tengzhong will acquire ownership of the Hummer brand, trademark and trade names, as well as specific intellectual property rights necessary for the manufacture of Hummer vehicles.

GM Holden is responsible for Hummer through its ‘Premium Channel’ – an umbrella term that also includes Saab (which is also about to be sold) and Cadillac (which is no longer coming here) – and has this week stuck to the line that it was “business as usual” until the final regulatory approvals were made.

“At this stage ... there is no change to the dealer network or the distribution channel,” GM Holden spokesman Scott Whiffin told GoAuto. “Closing of the sale process in the US is contingent on regulatory approvals in both the US and China.

“In Australia there are no changes for customers or dealers to sales and service arrangements. Likewise, warranty agreements will continue to be honoured.”

In a statement, GM said Tengzhong would assume the existing dealer agreements relating to Hummer’s retail network. It will also contract vehicle manufacturing, key components and business services from GM during a “defined transitional time period” which is still to be divulged.

It is known that GM’s Shreveport plant in the US will continue to build the Hummer H3 and H3T until June 2010, with an optional 12-month extension. The same applies for H2 production at AM General’s Mishawaka plant.

However, the future of Australian-sourced H3s, which are built in South Africa, is still to be determined.

Year-to-date, H3 sales are down a massive 56 per cent in Australia, with just 400 sold across the nation to the end of September. Just 12 were sold last month.

“Hummer is a strong global niche brand and this agreement signifies another important milestone in writing the next chapter for both GM and Hummer,” said GM chief executive Fritz Henderson. “For Hummer, the combination of its knowledgeable leadership team, vehicle design expertise and the capital financing of Tengzhong portend a successful future.”

Hummer chief executive (and former Cadillac general manager) James Taylor will remain in the role under Tengzhong ownership. Other senior managers will also be retained.

“We are fortunate to have a partner who understands and recognises the importance of continuing investment in Hummer’s heritage as a US-based and branded company with a view toward capitalising on global opportunities,” said Mr Taylor.

“Backed by a privately owned and well-capitalised company, we are going to be able to focus on providing customers with more efficient models that deliver Hummer’s promise of authentic, purpose-built design and engineering.”

Once the transaction is completed, Hummer will add E85 ethanol capability on the 2010 H3 and H3T models. It is also in the process of obtaining emissions certification for a diesel H3 for introduction in markets outside North America.

More efficient petrol engines and six-speed automatic transmissions also figure in the brand’s future.

Tengzhong chief executive Yang Yi said: “This transaction marks an exciting step for both Tengzhong and Hummer, as we invest in a business that has significant opportunity in the US and around the globe.

“We are excited about some of the initiatives already underway at Hummer that we believe our investment will be able to accelerate, particularly related to the creation of the next generation of more fuel-efficient vehicles to meet not only future regulations but also customer expectations.”

Tengzhong is a privately owned engineering company that manufactures heavy machinery equipment “with a presence in special-use vehicles, road and bridge construction equipment and construction and energy industry equipment”.

[Sprint XR8]

Daewoo unit remains hurdle in GM restructuring

Wed Oct 14, 2009 4:48pm
DETROIT/SEOUL, Oct 14 (Reuters) - Three months out of bankruptcy and a month after striking a deal to sell its Opel European business, General Motors Co [GM.UL] has to determine the fate of yet another struggling unit: South Korea-based GM Daewoo.

GM Chief Executive Fritz Henderson is in Seoul this week to discuss options for restructuring GM Daewoo with the South Korean government -- an increasingly important asset for the automaker.

Henderson's visit follows eight months of talks between GM executives and the government-run Korea Development Bank -- GM Daewoo's main creditor -- to secure about 1 trillion won ($864 million) in new loans for the cash-strapped unit.

At stake is a critical hub in Asia that is responsible for small car design and engineering -- a crucial link in GM's plans to sell more vehicles in emerging markets and meet tougher fuel economy standards in the United States.

GM Daewoo, which accounts for about a quarter of GM's global auto production, also represents one of the few remaining areas needing restructuring after the U.S. automaker exited bankruptcy in July with $50 billion in U.S. government funding.

"GM needs to resolve the situation quickly. It's imperative simply because of their dependence on GM Daewoo for their small car architecture," said Erich Merkle, an analyst at Autoconomy.com.

"If you are going to be a global competitor in the auto industry, you have to have small cars because that's the fastest-growing segment globally. Small cars are crucial for anyone's strategy."

GM Daewoo sells almost 90 percent of its production outside South Korea, mostly branded as Chevrolets. The new Chevy Cruze small car, the Chevrolet Aveo compact and the Spark subcompact are among the vehicles designed and engineered there.

But over the past year, the downturn for GM Daewoo's parent company has weighed down its results. GM Daewoo lost 876 billion won ($756 million) in 2008 and through the first nine months of this year, sales are down 43 percent to 401,808 vehicles.

The decline of GM Daewoo represents a sharp reversal of fortune for GM, which bought most of the assets of distressed South Korean automaker Daewoo Motor Co in 2002 and used it as a hub for developing small and fuel-efficient cars.

Since February, when GM Daewoo exhausted a $2 billion credit line offered by Korea Development Bank as part of the 2002 deal, GM's own financial difficulties and bankruptcy have complicated a refinancing for its subsidiary.

The carmaker, which is 51 percent owned by GM, has also requested 1 trillion won ($864 million) in additional loans from KDB and other banks.

State-run KDB helped finance GM's takeover of Daewoo and still holds a 28 percent stake, making it the second-largest shareholder behind GM.

LITTLE CHOICE FOR SOUTH KOREA

KDB Chief Executive Min Euoo-sung said in a statement last week it would be difficult for the bank to provide new loans to GM Daewoo due to its "deteriorated financial status," adding that GM should play a role as the largest stakeholder.

But the terms of GM's financing from the U.S. government prohibit it from using any of the $50 billion in U.S. taxpayer funding to support its overseas operations. That has kept GM at the table with South Korean officials.

KDB has also asked that GM and its Daewoo subsidiary share licenses for vehicles they develop jointly and that the bank be allowed to participate in the management of GM Daewoo as part of a long-term development plan for the automaker.

KDB officials said in May the bank was considering raising its stake in GM Daewoo, a step the automaker has said would be on the table for negotiation.

Analysts said KDB could not help but extend a lifeline to GM Daewoo because a potential collapse of the company could deal a serious political and economic blow to the government. But it will likely wait until the last minute in order to win some concessions from GM, they added.

GM Daewoo, the third-largest automaker in South Korea, employees about 17,000 people in the country and has 400 direct vendors.

"It shouldn't be easy for KDB to provide fresh aid. They will inject money only when GM meets at least some of its demand," said Song Sang-hoon, an analyst at Kyobo Securities. "Without that, KDB will not find justification to provide aid to GM Daewoo." (Reporting by Soyoung Kim and Cheon Jong-woo; editing by Andre Grenon)
http://www.reuters.com/article/marke...091014?sp=true

[burnz]

this will hurt ford's profit margin, usa.
http://www.abc.net.au/news/stories/2...14/2714060.htm
not the best time for any company to have recals threw no foult of their own.

[burnz]

GM to sell opel
http://www.caradvice.com.au/44371/gm...a-by-thursday/

[Sprint XR8]

GM-Daewoo: Grasping At Straws?
By Edward Niedermeyer
October 15, 2009

Bailout and reorganization gave GM the fresh start it so desperately needed in the US, but other governments have been decidedly less sympathetic to GM’s plight. Germany saw an opportunity to free Opel from GM’s grip, and now the Korean Development Bank has GM up against the wall over the future of GM-Daewoo. Reuters reports Fritz Henderson flew to Korea to meet with Daewoo’s creditors and put a cheery face on the situation. But calling the talks “very positive” is more tribute to Fritz’s unflagging optimism than an indication that GM-Daewoo is almost out of the woods. GM has no choice but to fight for its only remaining small car development center, the only question is with what?


GM-Daewoo is so far in debt to the KDB that it has no choice but make a public equity offering, a move that Henderson says he supports. But the issue that the KDB wants resolved is how much GM will contribute to such an offering. Without a sweetened pot, it’s hard to imagine investors going to go head-over-heels for a deeper stake in an indebted, sales-losing, shackled-to-GM carmaker. On the point of this contribution however, Fritz was… incoherent.

GM has resources around the world. Resources can be used not only from the U.S., including operations here in Korea. We are able to provide support, if necessary

The problem is that this is only moderately true at best. Daewoo’s offering will be $425m at minimum; the KDB wants that amount doubled. But GM is forbidden from using any of its $50b US bailout money to rescue its foreign division, and where else is The General going to find the cash to hold off its Korean creditors? Fritz’s statement has the vague confidence of someone deciding which leg to cut off to stay alive.

And even if GM does come up with enough money to pull off an equity offering, it has no way of stopping KDB-initiated reforms in Daewoo management. The bank has said it wants a more prominent role in managing the firm, including hiring its own financial officer. The KDB also wants GM to share licenses for jointly-developed vehicles. And even if GM comes up with some money for the share offering, the KDB is likely to expand its share beyond its current 28 percent. In other words, the bank is going to get its way. Daewoo is slip-sliding away, and all of GM’s small car eggs are still in that basket.
http://www.thetruthaboutcars.com/gm-...s/#more-332191

[vztrt]

Originally Posted by burnz

GM to sell opel
http://www.caradvice.com.au/44371/gm...a-by-thursday/

http://www.fordforums.com.au/showthr...ght=bankruptcy

[R-Design]

Originally Posted by CoupeXB

Fritz’s statement has the vague confidence of someone deciding which leg to cut off to stay alive.

This can't be good news for GMH. I'm pretty sure the Aussie Gov't won't be too keen on extending that $200m line of credit to sure up GM Daewoo.

[Bossxr8]

Do GM have a single division that isn't running to the government for a bail out or huge loan.

Total fail.

[Sprint XR8]

GM-Daewoo: Can GM Stop A Chinese Takeover?

October 21, 2009
Reuters reports that GM’s deadline to participate in its Daewoo division’s $424m rights offering has passed without GM putting any money down. But the Korean Development Bank, which GM-Daewoo owes $2b (soon to be closer to $3b), isn’t freaking out yet. “Given that GM is not allowed to take money out of the United States, it seems to have a plan from the beginning to drop the rights and use its units to buy them,” say KDB spokesfolks. KDB will not participate in the offering until GM stumps up some cash, so the betting marker has been passed to GM’s units. But which unit will answer the call? Opel is days away from being sold, so you can rule that out. Holden is a possible white knight, but the Australian division is hardly a piggy bank with which to keep other operations afloat. Which leaves only GM’s South American, Chinese and Indian operations to pick up the slack.


China’s SAIC is already an investor in GM-Daewoo, and as GM’s main Chinese partner, access to Daewoo’s small car technology is crucial to its continued success. Look for SAIC to step in with cash, a move that would see KDB force GM to relinquish even more control of the struggling Korean division. During the bailout era we were constantly checking on rumors that cash-flush Chinese firms would buy out GM. Instead, it seems that GM has been forced out of its major small and mid-size development outposts, and Chinese firms look most likely to step in and pick up the wreckage for a song. Either way, without Opel and Daewoo to fill its new product portfolio, GM is looking like the next Chrysler in the making.
http://www.thetruthaboutcars.com/gm-...r/#more-332677

[vztrt]

Happier New Year for GM

http://www.goauto.com.au/mellor/mell...257672001A29EC

General Motors set to repay aid nest egg – a bit – as it changes up a gear

18 November 2009

By RON HAMMERTON

GENERAL Motors plans to start paying back unused US government loans, starting with a $US1.2 billion ($A1.3b) installment on New Year’s Eve.

Still bleeding red ink but buoyed by what GM president and CEO Fritz Henderson described as a return to stability in the America’s biggest motor company, GM believes it might well repay the full unused $US6.7 billion ($A7.2b) lifeline put aside in a special cash account within 12 months.

GM does not have to repay the money until 2015, but, as Mr Henderson told reporters: “No time like the present.”

The company also announced plans to start repaying smaller loans to the Canadian and German governments, while also stepping up its US advertising this quarter to reduce dealer stock inventories which it regards as still too high at 424,000 units.

The loan repayments are seen as much public relations exercise as financial necessity, as GM still has a further $43 billion in government rescue aid tied up in a 61 per cent ownership stake of the New GM, making the US treasury GM’s largest shareholder.

GM this week reported a third quarter pre-tax loss of $US1.15 billion ($A1.24b) on revenue of $28 billion in its first quarterly report since emerging from bankruptcy as the ‘New GM’ on July 10, contrasting with rival Ford Motor Company’s $US1 billion third-quarter profit reported two weeks ago.

Analysts in Detroit generally judged the GM result as better than expected, although most agreed with Mr Henderson when he said: “Things are looking better, but we have a long way to go.”

It was certainly better than the $4.2 billion loss recorded by the ‘Old GM’ in the third quarter of last year.

This year's third-quarter result would have been a lot worse without a $238 million profit contribution from GM’s international unit, particularly the booming Chinese arm of the company.

Elsewhere, the losses continued to rack up. GM’s European operations – mainly Opel and Vauxhall – lost more than $400 million, while North American operations were down $651 million.

GM’s latest quarterly result showed a $500 million hit in the form of special items arising from restructuring its US dealer network, costs related with its bankrupt parts-making former subsidiary Delphi and other expenses.

Mr Henderson said the lion’s share of restructuring charges should be behind GM after this year.

Also on the positive side, GM generated $3.3 billion in operating cash for the quarter, taking its liquidity to a handy $42.6 billion. However, this includes the $6.7 billion in government loan money that it has committed to handing back.

Government debt aside, GM reported debts of $7.6 billion globally, not counting a $12.7 billion hole in underfunded worker pension funds.

Before the New GM was created in July, GM’s debt was $94.7 billion.

GM says it expects car sales in the US to fall this quarter in the wake of the successful government-funded cash-for-clunkers scheme that boosted sales in the third quarter.

Next year, GM predicts the US auto market to achieve modest growth, to about 11 to 12 million units, up from about 10.3 million this year.

So far this year, GM’s car and light truck sales are down 33.4 per cent, while its market share has slipped from 22.1 per cent at this time in 2008 to 19.7 per cent.

[phillyc]

Originally Posted by vztrt

Happier New Year for GM

http://www.goauto.com.au/mellor/mell...257672001A29EC
Also on the positive side, GM generated $3.3 billion in operating cash for the quarter, taking its liquidity to a handy $42.6 billion. However, this includes the $6.7 billion in government loan money that it has committed to handing back.

Government debt aside, GM reported debts of $7.6 billion globally, not counting a $12.7 billion hole in underfunded worker pension funds.

The operating cash is great news. But much of that could be attributed to reducing the huge inventory of vehicles it had sitting around.

The not so great is, oh we have $7.6B USD of debt, but forget about the $12.7B USD unfunded pension, oh also forget the $90B USD that our 'old GM' creditors lost too.

[Luke Plaizier]

Given that they burned all of their old investors by taking and then wiping away just about ALL of their money, who will be left to buy GM shares when they get around to selling some off to raise funds in the coming months?

You'd have to be a pretty high-risk-without-much-return type of investor to even consider it wouldn't you. How many of them are there?


Lukeyson

[Wally]

Originally Posted by Luke Plaizier

who will be left to buy GM shares when they get around to selling some off...

The same old punters/gamblers who use other people's money I suspect

[vztrt]

Reuss faces up to GM challenges

http://www.goauto.com.au/mellor/mell...2576B0001AB0B8

Former Holden boss Mark Reuss vows to win back GM customers - one by one

19 January 2010

By JAMES STANFORD

THE new president of General Motors North America, former GM Holden chief Mark Reuss, admits he is facing a big challenge to win back the trust of US consumers following the government bail-out and restructuring.

“The customer in this country is going to have some kind of opinion of GM after we come off of bankruptcy,” he said in Detroit last week.

“So how do we fix that? We have to fix it one customer at a time. You can’t come out with an ad saying ‘Trust Us’ - it ain’t going to happen.”

Mr Reuss is looking at taking a hands-on approach and that means picking up the phone.

“It is going to happen if I start calling customers and make sure the cars are delivered on time… There was a Cobalt owner that had a wheelhouse liner that had come off during winter driving and thought there was something wrong with the car because it was making noise,” he said.

“I had two of my engineers drive eight hours in a snow storm to Pennsylvania to fix the car, wash the car and deliver it back. This is what we are going to do,” he said.

“There are no parlour tricks on this - this is going to be hard and it is hard. I don’t know about you guys, but helping customers is very rewarding to me.”

Mr Reuss, who left his position as GM Holden managing director last year to take up the position of global engineering chief before he was selected for his latest role, said improvements could also be made when it comes to product.

“Market position and placing product correctly is something which we haven’t done on a consistent basis with all brands because we have had the money to do it,” he said.

Streamlining the dealership body with reforms that are currently being resisted by some dealers and strengthening ties with remaining dealers is important, Mr Reuss said.

“We are going through to get the right dealership body with integrity, get the right the relationships with the dealers back,” he said.

Mr Reuss, who said he plans to retire to Australia, said that if he acts properly in his position, others will likely follow which will help move GM move forward.

“It has got to start with me and it has to start with leadership,” he said.

“How do you change the culture in GM? The culture to me is just how the leadership and beyond behaves. So if you have people behaving the wrong way, then others are going to behave the wrong way and they are not going to trust you, they are not going to believe you and it just goes on and on and on,” he said.

Mr Reuss admitted he never aspired to his current job when asked if he wanted to take the job of GM chairman.

“I had no ambition to have the job I have,” he said.

Mr Reuss indicated he was enjoying his position at the head of global engineering, before the latest shake up left him in his new role.

“Being an engineer in the company is a great thing and I enjoyed it for four months,” he said.

[phillyc]

Originally Posted by vztrt

Reuss faces up to GM challenges

http://www.goauto.com.au/mellor/mell...2576B0001AB0B8

Wow, sounds like he has been reading about Alan Mulally. I don't believe he is of the same calibre though.

[vztrt]

http://www.caradvice.com.au/54470/ge...tion-overtime/

General Motors goes into SUV production overtime

January 25, 2010 by Tim Beissmann

Facing dramatic shortages on some of its vehicles, General Motors is boosting production of its full-sized SUVs from this Friday.

The Arlington plant in Texas makes the GMC Yukon, Chevrolet Tahoe and the Cadillac Escalade in both standard and hybrid forms. It had less than a 34-day supply of each SUV at the beginning of January – around three weeks below the industry average and almost one month underneath the recommended 60-day supply.

The plant – which has been running two 10-hour shifts Monday to Thursday – will add two overtime shifts on Friday every week until at least April. The factory will also operate on two Saturday in both March and April.

Supply of the Escalade was as low as 15 days as demand for the extra-long SUV increased at the beginning of the year.

Two other GM factories – Kansas City, responsible for the Chevrolet Malibu and the Buick LaCrosse, and Ingersoll, Ontario, which makes the Chevrolet Equinox and the GMC Terrain – have also moved into a third shift and some Saturday production to meet demand of sedans and small crossovers.

The announcement follows a similar one by Ford less than two weeks ago when it revealed that low supply levels meant it would boost production of its Expedition, Explorer and Lincoln Navigator full-sized SUVs.

(with Automotive News)

[vztrt]

Another Holden man off to Detroit

http://www.goauto.com.au/mellor/mell...2576B6000CF925

Holden’s Laird to join Mark Reuss at GM headquarters

25 January 2010

By JAMES STANFORD

GM HOLDEN’S executive director of corporate affairs Jason Laird is set to join his former Holden boss Mark Reuss at GM headquarters in Detroit.

Mr Reuss was recently named president of GM North America, and now Mr Laird has been appointed executive director of GM North American product and brand communications, starting next month.

Australian-born Mr Laird has had two stints with Holden in almost a decade with GM, the first as national manager corporate communications after joining Holden from Telstra in 2001 and most recently as executive director of corporate affairs.

In between, he was an associate director of GM Asia Pacific, based in China.

Samantha Read, currently Holden’s technical adviser to GM Holden chairman and managing direcrtor Alan Batey and the associate director of government relations in corporate affairs, will replace Mr Laird.

Ms Read has been with Holden since 2000, when she took up the role of strategic quality planner in the quality organisation. She holds a bachelor of engineering from Monash University.

[Jason[98.EL]]

Originally Posted by vztrt

Another Holden man off to Detroit

http://www.goauto.com.au/mellor/mell...2576B6000CF925

Has to make you wonder !!!!

What is G.M up to taking the best from G.M.H to head up the G.M brand could we see G.M.H get wound down

Just my thoughts that is all I hope I am wrong though....

Jason

[cosmo20btt]

Originally Posted by Jason[98.EL]

Has to make you wonder !!!!

What is G.M up to taking the best from G.M.H to head up the G.M brand could we see G.M.H get wound down

Just my thoughts that is all I hope I am wrong though....

Jason

You could be right with the Aussie dollar surpassing the US dollar some time this year, over seas arms of companies don't like operating when it cost more out of the country to manufacture.

[Chilliman]

Chevrolet is GM's strongest, most recognisable brand - with Mark Reuss seemingly taking more than a passing interest in the Alan Mulally playbook, could we see ' One Chev' in the future? (i.e. no more seperate Holden brand).

[cosmo20btt]

GM said there plan was to be in chapter 11 for 3 months, it's looking more like
3 years if ever to come out.

[vztrt]

http://www.autoblog.com/2010/03/02/g...ement-shuffle/

GM announces sweeping North American management shuffle

by Jeremy Korzeniewski (RSS feed) on Mar 2nd 2010

It may be tough to remember the news earlier in the day that Brian Nesbitt would be out as the head of Cadillac and back to his old position as executive director, advanced concept group. A metric ton of reveals from the Geneva Motor Show has a tendency to do that kind of thing... but General Motors rather quietly let loose a whole slew of sweeping changes to its North American leadership team. According to Mark Reuss, GM North America president:

It's become extremely clear to me since taking this role that there is a better way to structure this organization. The premise of the structure is simple – a clearer marketing focus to sell more vehicles, and freeing our sales and service experts to focus on customers and dealers... We've worked with a small group of executives to align this model and appoint the best candidates for each job.

Shortly after the announcement went out, Reuss held a conference call during which he admitted that GM's sales performance was not keeping up with the progress the automaker has recently made with its vehicle lineup. Hence, the leadership shakeup. The moves are way too thorough to go over here, so we suggest you click on past the break for the complete rundown straight from The General. Summing up the changes, Reuss had this to say:

This structure has been developed with as few layers as possible between me, the dealer and the customer. By removing layers and giving leaders increased accountability, we allow them to move faster and focus on what needs to be done.

[Outback]

Originally Posted by Bossxr8

Do GM have a single division that isn't running to the government for a bail out or huge loan.

Total fail.

Just remember which manufacture was the first to accept Government money.

[R-Design]

It looks like all of GM management talent comes from Holden, lol. Expect to see a Chevy SIDI in a few months time, apparently they're going to out engineer their competition (with marketing).

Originally Posted by March 3, 2010 by Adam Marshall

Holden Chairman and Managing Director Alan Batey has been appointed Vice-President of Sales and Services for Chevrolet in the U.S.

Until a replacement for Mr Batey is found Mark Bernhard, Holden’s Chief Financial Officer with the support of Holden’s senior leadership team will continue with the company’s strategic plan.

“After an exceptionally difficult year last year, Holden today stands on the threshold of great things – we’ve got a robust plan in place to return to profitability, we’ve got some great product on the ground and on the way and our team is focused on growing volume and share,” Mr Batey said.

Mr Batey will be joining the GM sales team which is being assembled by Mark Reuss, former Holden Managing Director and now GM’s North American president.

Mr Batey’s GM career dates back to 1979 when he joined Vauxhall Motors in the UK as an apprentice mechanical engineer and has been Holden’s Chairman and Managing Director since September 2009. Other positions he has held within the GM company are Executive Director of Sales, Marketing and Aftersales for Holden. Vice President of Commercial Operations (Sales, Marketing and Aftersales) for GM Daewoo. He was also a member of the Holden board of directors.

“There are few companies in the world as special as Holden,” Mr Batey said.
“It’s a company with a passionate, highly skilled team that punches far above its weight on the global automotive stage. It’s a company with a fantastic history and a brilliant future.”

http://www.caradvice.com.au/59183/al...es-role-in-us/

[Paxton]

Originally Posted by Boss315

It looks like all of GM management talent comes from Holden, lol. Expect to see a Chevy SIDI in a few months time, apparently they're going to out engineer their competition (with marketing).

http://www.caradvice.com.au/59183/al...es-role-in-us/

And that revolving door keeps on revolving.

Holden can't seem to keep a Managing Director.

[Luke Plaizier]

In a Drive Anti-Toyota article, the other US makers are reporting that they have seen a sales increase due to Toyota defectors. Of interest, they are reporting that GM rose 12% in Feb, and Ford rose 43%. Even more interesting is that Ford outsold GM in the US in Feb by 334 cars - which is the first time since August 1998 when GM were on strike.

I wonder if Drive will keep this positive Ford news hidden within the Toyota article, or if it will appear somewhere else?


http://www.drive.com.au/Editorial/Ar...6&pg=2&IsPgd=0


Lukeyson

[Outback]

Ford should be going well after they accepted the first Government loan back in June 2009.

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