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John Brown
John Brown SuperDork
11/18/09 2:49 p.m.

http://www.autonews.com/article/20091118/OEM01/911189989/1193

U.S. task force surprised by GM reversal on Opel said: November 18, 2009 - 1:22 pm ET WASHINGTON (Reuters) -- The Obama administration's autos task force was caught off guard when General Motors Co. decided to scrap a planned sale of its Opel unit that had the strong backing of Germany, a senior official said. Subscribe to Automotive News Ron Bloom, the U.S. official who heads the autos task force that steered GM and Chrysler through recent bankruptcies, said the surprise change of course by the automaker on Opel underscored the independence of a new board put in place to safeguard the U.S. government's investment in GM. GM angered its German unions and Berlin in early November by abandoning a carefully negotiated plan to sell a majority stake in its Opel unit to a Russian-backed group led by Canadian auto parts maker Magna International Inc. "We were completely surprised. Our anticipation was that it was going to be approved," Bloom said in an interview with Reuters on Tuesday. "But the board of directors is an independent board of men and women who take their own decision. They made their own decision and we're not going to try to get them to change it. I guess we could have said something. We absolutely did not." In September, GM's board had approved the sale of Opel to the Magna-led group. German Chancellor Angela Merkel's government had pledged to support the sale with 4.5 billion euros ($6.7 billion) in financing in a bid to protect jobs in Germany. When the GM board met in early November to review that decision, that meeting in Detroit coincided with a visit to Washington by Merkel, where she addressed a joint session of Congress and met with U.S. President Barack Obama. Awkward timing Bloom said the timing of the GM decision was politically "awkward" since U.S. officials had not been able to notify their German counterparts during Merkel's visit. But he also said the Obama administration remained committed to leave GM's board and management alone to run the company in which it holds a 60.8 percent stake. GM has taken $50 billion in federal funding, including $30 billion in financing to restructure in bankruptcy. "Our friends in Germany were upset and we were most assuredly not glad they were upset," Bloom said. "We value this relationship hugely. We would not sneak up on you with this ever. But we got snuck up on with this. And that's what happens when you have an independent board that makes up their own mind." He added: "In a perfect world, I would have known about it in advance. But you can't know about it in advance because it's a decision that happens in the board room. So by definition, I couldn't know." "I think it's important to have bright lines like that because the temptation to wander is overwhelming. I think the way to run these things is with quite bright lines." GM's European operations, which include the Opel and Vauxhall brands, employ about 50,000, with about half of that total in Germany. The head of GM's European operations said on Tuesday that the automaker could cut between 9,000 and 10,000 jobs as it restructures Opel as part of a plan expected to cost 3.3 billion euros ($4.9 billion). GM is seeking aid from other European governments to fund that Opel restructuring. Bloom said the U.S. government would not be actively involved in those discussions but could be consulted. "Whether the foreign governments participate is something that GM will work out with the foreign governments," he told Reuters. "I guess we're hoping they do because it's good for all but we're not going to presume to tell Germany, Poland, England or Spain what's in their interest. That's something they will have to sort out." Investing overseas Bloom also said GM's board had clearance to invest the company's cash in overseas operations if it judged that those outlays would make the automaker a stronger global player. In addition to its pending investment in restructuring Opel, GM has also had to put more money into its Korean GM Daewoo unit. In October, GM took its stake in that subsidiary to 70.1 percent with a $413 million investment. Bloom said the board had concluded that investment, like Opel, would strengthen GM's operations and engineering reach. GM ended the third quarter with $43 billion in cash. The U.S. government has provided over $50 billion in funding to the automaker, including $30 billion to finance a fast-track bankruptcy this summer. "Once you own shares in a global company, you have to say, you guys run this to maximize shareholder value and that's what we're trying to do," Bloom said. Bloom, a veteran investment banker who had also been an assistant to the president of the United Steelworkers union, joined the Presidential Task Force on the Auto Industry in February. He took responsibility for overseeing remaining work with the U.S. auto industry in July when former task force chief Steve Rattner stepped down. Contact Automotive News
John Brown
John Brown SuperDork
12/2/09 12:51 p.m.

Government Motors retirement plan strikes again:

http://www.autonews.com/article/20091202/COPY01/312029955/1193

SHAKE-UP AT GM Opel's CFO quits to pursue other interests Paul McVeigh Automotive News December 2, 2009 - 9:48 am ET MUNICH -- Opel's finance chief Marco Molinari quit to pursue other interests a day after the board of parent General Motors Co. ousted CEO Fritz Henderson. Opel said a successor to Molinari, 45, will be “announced in due course.” Molinari, an Austrian, has been Opel's CFO since 2005. He joined GM in 1991 as senior financial analyst at the GM treasurer's office in New York and has held several leadership positions with GM and Opel, including assignments in New York, Argentina, Belgium, Switzerland, Germany and Mexico. He served in eight countries on three continents. Opel Managing Director Hans Demant said Molinari was instrumental in helping Opel win a bridge loan from the German government when GM went into short-lived bankruptcy earlier this year. "During a very difficult period, Marco Molinari has done a great job for our company and has proven his financial expertise” Demant said in a statement. Molinari led the Olympia turnaround program at GM Europe and Opel from 2001 to 2003.
Xceler8x
Xceler8x Dork
12/2/09 1:43 p.m.

There was a story on NPR about this. The business correspondent's take was that this guy was not a "Big Idea" guy. The kind of Big Idea guy that is required to change the direction of GM.

John Brown
John Brown SuperDork
2/25/10 6:41 a.m.
http://www.autonews.com said: DETROIT -- General Motors Co.'s top executive in charge of developing batteries for the Chevrolet Volt plug-in hybrid is leaving to take a position with an unnamed startup battery company in California. Denise Gray, 46, global director of rechargeable energy storage systems, will step down March 5 after more than three years in the post. This was “an opportunity that I could just not resist,” Gray said in a phone interview. “The good thing is I will be in the energy, advanced-battery area that I really truly believe has a promising future.” Gray added that she is “a strong supporter of the Volt and what GM is doing” but that she will be cheering from “a different seat.” Ronn Jamieson, director of global battery systems engineering, will temporarily assume reporting responsibilities for Gray's staff. Bill Wallace, manager of the Volt Battery System Engineering Group, will take on technical and program management responsibilities. The Volt, GM's flagship for a fuel-saving future, is designed to travel 40 miles on its battery before the gasoline engine starts. The vehicle will roll out slowly, starting in California. Production is targeted at 8,000 to 10,000 in the first full year. GM plans to ramp up to 50,000 to 60,000 annually. Gray said “there is never an ideal time to leave.” She noted that GM built the Volt's first production battery pack in January. “The heavy lifting when it comes to the battery design is complete,” she said. All that remains “is fine tuning to make sure our manufacturing processes and all of our testing is in place.” She will be the third key executive to leave the Volt team in the last six months. In September, Bob Kruse, executive director of vehicle engineering for hybrids, electric vehicles and batteries, left to start a consulting firm. A month later, Frank Weber, the German-born engineer in charge of the Volt program, announced his return to Germany. He was named Opel's vice president of global product planning in late November. Gray worked for GM as a high school senior in 1980. She has directed a variety of engine and transmission activities in more than 25 years at the automaker. Read more: http://www.autonews.com/apps/pbcs.dll/article?AID=/20100224/OEM02/100229923/1261#ixzz0gYDLny4F

3rd one in six months... Apparently this car will be SOOO good it will never need a revision or update!

Toyman01
Toyman01 Dork
2/25/10 6:55 a.m.

Sounds like rats on a sinking ship.

4cylndrfury
4cylndrfury SuperDork
2/25/10 7:08 a.m.

The Chevy Volt:

Samurai07SS
Samurai07SS New Reader
2/25/10 9:19 a.m.

by the sound of it, so many of you would be happy if there was no Ford or GM. it boggles the mind.

John Brown
John Brown SuperDork
2/25/10 9:24 a.m.

I am a car guy, one who like ALL makes and models and respect what every manufacturer can do which is why it pisses me off that their brightest talent is treating them like this.

Personally if I were able to be on that "ship" I would be willing to take 35K/yr plus performance deferments and stocks to help get the company going well again.

Too many people are taking these "golden parachutes" and stepping into the start up sector instead of helping their companies recover.

Stealthtercel
Stealthtercel Reader
2/25/10 9:27 a.m.

If I understand correctly, Ms. Gray is into batteries. The Volt has its batteries now, at least for its debut version. Ms. Gray wants to go somewhere else, where she has a great opportunity to mess around with batteries. I'm happy for her, but I don't see how this represents apocalyptically bad news for GM in any way. If anything, doesn't it just mean that the next-gen Volt can possibly get some really kickass next-gen batteries from somebody who really knows what she's doing?

EvanR
EvanR New Reader
2/25/10 2:16 p.m.

Why GM will fail can be explained by my gf's 2006 Chevy Malibu. How many window regulators need to break in 60k miles before people (my gf included) start looking at other options?

In this case, precisely two. Two broken rear window regulators in 60k! And of course, they are designed never to be repaired, only replaced.

I will give up the two pairs of vice-grips holding up the rear windows so that she can trade that heap in.

And never buy another GM product again.

Way to go, GM.

irish44j
irish44j Reader
2/25/10 5:58 p.m.
Samurai07SS wrote: by the sound of it, so many of you would be happy if there was no Ford or GM. it boggles the mind.

I'm all for Ford or GM if they can make good cars and sensible decisions, which GM at least cannot currently do.

Ford is currently making decent cars, decent-looking designs, etc.

GM is sitting back hoping that the mediocre Camaro and the Volt will save them. The Volt is lame. They're going to lose money on the whole endeavor when its all said and done, because there are not as many people who want them as GM seems to think. 60,000 per year? ha ha ha, good luck. I live in a metropolitan area full of people whose commute would put them in prime range for the Volt. And guess what? Nobody I know is even remotely interested in the car, mostly because its a Chevy and that marque cannot currently be trusted to put out a quality product (or one that looks good) unless its under the Cadillac brand.

And Buick? Really? Who the hell outside of China wants a Buick? That brand should be entirely killed in the US and they should have kept Saturn, or brought Opel name over....

GM should have taken the Opel lineup when Saturn died and rebadged them all as Chevys maybe , and the G8 to boot....Instead they ditched all the promising cars in the GM lineup and America is stuck with the lame Malibu, retarded Equinox, and a bunch of other cars that look stupid, handle poorly, and feel cheap.

They should take a note from Ford - making cars that look reasonably good, get good mileage without too much gimmick, have pretty nice interiors, and are made well...

Meanwhile, people like me who would LOVE to "buy American" will continue to buy Japanese, because no US carmaker makes an SUV as nice as the 4Runner, and no US carmaker makes a 4-door smallish sedan half as fun to drive as the WRX, except the Cobalt SS, which looks like a riced-out regular cobalt. No thanks...

ignorant
ignorant SuperDork
2/25/10 7:10 p.m.
irish44j wrote:
Samurai07SS wrote: by the sound of it, so many of you would be happy if there was no Ford or GM. it boggles the mind.

I'm all for Ford or GM if they can make good cars and sensible decisions, which GM at least cannot currently do.

Ford is currently making decent cars, decent-looking designs, etc.

GM is sitting back hoping that the mediocre Camaro and the Volt will save them. The Volt is lame. They're going to lose money on the whole endeavor when its all said and done, because there are not as many people who want them as GM seems to think. 60,000 per year? ha ha ha, good luck. I live in a metropolitan area full of people whose commute would put them in prime range for the Volt. And guess what? Nobody I know is even remotely interested in the car, mostly because its a Chevy and that marque cannot currently be trusted to put out a quality product (or one that looks good) unless its under the Cadillac brand.

And Buick? Really? Who the hell outside of China wants a Buick? That brand should be entirely killed in the US and they should have kept Saturn, or brought Opel name over....

GM should have taken the Opel lineup when Saturn died and rebadged them all as Chevys maybe , and the G8 to boot....Instead they ditched all the promising cars in the GM lineup and America is stuck with the lame Malibu, retarded Equinox, and a bunch of other cars that look stupid, handle poorly, and feel cheap.

They should take a note from Ford - making cars that look reasonably good, get good mileage without too much gimmick, have pretty nice interiors, and are made well...

Meanwhile, people like me who would LOVE to "buy American" will continue to buy Japanesebecause no US carmaker makes an SUV as nice as the 4Runner, and no US carmaker makes a 4-door smallish sedan half as fun to drive as the WRX, except the Cobalt SS, which looks like a riced-out regular cobalt. No thanks...

here here...

irish44j
irish44j Reader
2/25/10 8:03 p.m.

btw, I forgot to say that yes, of course I would rock a Z06 or ZR1 any time. But that's a small-volume seller and the vette can't save GM. They need a solid midsize sedan that can compete with the Accord, Camry, etc and a solid compact that can go head-to-head with Civic and Focus...

Samurai07SS
Samurai07SS New Reader
2/25/10 8:03 p.m.

it's nice to see so much bias on a forum. warms my heart. the 06 Malibu was a turd. It was the iteration of the old N-body and should've been retired years before. The New Malibu is sitting on the new Epsilon body and is light years ahead of the old car.

As for GM building a mediocre car, in my experience, my various Chevrolets have held together in beatings you cannot imagine. After working as a mechanic, I can honestly say that the supposed quality with a Japanese car is clever marketing. The only thing is when a Toyota or a Honda break, a parts guy smiles because it's feeding time. Last year when gas was going berzerk, everyone dogpiled on GM for it's thirsty line of pickups and SUV's, but not one idiot looked over at Nissan and Toyota's economy... they're SUV's and pickup's were by far WORSE than the Chevrolet/GMC models. i buy domestic and have always bought domestic because the price is right, the cars perform, they hold together well (and in the Adirondacks, that's important) and are very cheap and easy to repair.

Also, you importcentric goomba, comparing a Cobalt SS to a WRX is comparing apples to oranges. I know, I OWN one. They are not riced out... these cars have the engine and suspension to embarass what is most considered rice out there.

I think you need to stop sucking on the Japanese tit.

irish44j
irish44j Reader
2/25/10 8:41 p.m.
Samurai07SS wrote: it's nice to see so much bias on a forum. warms my heart. the 06 Malibu was a turd. It was the iteration of the old N-body and should've been retired years before. The New Malibu is sitting on the new Epsilon body and is light years ahead of the old car.

Nobody is arguing that it's not improved. But being light years ahead of the old one is nothing to brag about. I notice you dont' say that it's "light years ahead of the Accord or Camry" - which is what the goal SHOULD be for it.

Samurai07SS wrote: As for GM building a mediocre car, in my experience, my various Chevrolets have held together in beatings you cannot imagine. After working as a mechanic, I can honestly say that the supposed quality with a Japanese car is clever marketing. The only thing is when a Toyota or a Honda break, a parts guy smiles because it's feeding time.

1990 Honda Accord 210,000 miles + 1987 Integra 230,000 miles + 2000 Nissan Maxima 180,000 miles. If I just take those three cars I've owned the total expenditure for "something breaking" is around $1500 total in about 10 years. A CV axle here, a rear brake caliper there. And parts for all of them were cheap as hell. Maybe as a mechanic, you smiled because you were overcharging people? Because that never happens....

Besides, if "Japanese quality" is just great marketing, maybe GM should get that marketing firm, eh?

Samurai07SS wrote: Last year when gas was going berzerk, everyone dogpiled on GM for it's thirsty line of pickups and SUV's, but not one idiot looked over at Nissan and Toyota's economy... they're SUV's and pickup's were by far WORSE than the Chevrolet/GMC models.

is someone here arguing over fuel efficiency of SUVs and pickups?

Samurai07SS wrote: i buy domestic and have always bought domestic because the price is right, the cars perform, they hold together well (and in the Adirondacks, that's important) and are very cheap and easy to repair.

so what you're saying is that you are biased in this discussion, then?

Pot calling kettle black, perhaps?

Samurai07SS wrote: Also, you importcentric goomba, comparing a Cobalt SS to a WRX is comparing apples to oranges. I know, I OWN one.

how is it apples to oranges? Are they not both performance compacts? Last I checked, the Cobalt SS, WRX/STI, Evo , Mazdaspeed3 and GTI/R32 are all considered to be in the same "class" of cars for the same type of buyers, and are all in the same general price range.

No, they are not "the same" cars. Some are AWD, some are FWD. But they're all turbo sport compacts and buyers looking at one usually look at several of the others. Hence all the "sport compact shootouts" in pretty much every car magazine (including GRM) has put several of them head-to-head.

And if you actually READ what I wrote about the Cobalt SS in my previous post, I was actually COMPLEMENTING how fun it is to drive - but of course you're all defensive over your trunk spoiler so you might not have noticed that.....I think it's a great driver's car. My complaint is with its looks, which could have been made much more inspiring.

Samurai07SS wrote: They are not riced out... these cars have the engine and suspension to embarass what is most considered rice out there.

I said it "looked ricey" because of the wing. Hell, the STi looks "ricey" too. NOwhere did I suggest that the Cobalt SS isn't a great performer (I nearly bought one 2 years ago). My argument is with the way that GM has marketed and styled it. It looks too much like a STOCK cobalt with a wing. GM should have given it more extensive cosmetic changes to differentiate it. This is what the Jap companies do. Nobody mistakes an Evo for a base Lancer, or an STi for a base Impreza.

I autocross against Cobalt SS's all the time and have a full dose of respect for their excellent performance. Just not their looks, sorry.

But so what? Alot of people say WRXs are ugly. Hell, I think they are too, even though I own one. We're talking about marketing and gettting people to buy your cars here. People buy "sport compacts" that look "HAWT YO".....it's up to opinion whether the Cobalt SS has that look - in my opion it doesn't. Reminds me of the GTO - an awesome car that was killed in market/sales by its so-so looks...

Samurai07SS wrote: I think you need to stop sucking on the Japanese tit.

Really, this is a friendly forum, not the typical teenager-frequented hot import nights forum where everyone is flaming. We're here to have intelligent discussion, not call names and act like children. We often differ in opinions here, but we always keep it respectful....

But in answer to your thought that I have a hard-on for Japanese cars: I've owned as many American cars as Japanese, and a few European to boot. Hell, my first car was a turbo Plymouth Voyager. Over the years I've had a Chevy truck, a Jeep Cherokee, a Volvo, a Honda, a Mazda, a Nissan, a Dodge, a Lancia, a Triumph, and a few others that I forget.

I most certainly am NOT biased toward American or Japanese or German cars or any other. I am biased toward whatever car is the most enjoyable to drive (or utilitarian) in the particular class/price range I am buying at any given time. In some cases it is Japanese, others American, others European...

My job every day is to keep this country safe so you can buy a GM or Ford. But that doesn't mean I have to buy a car I don't like just because it's American.

irish44j
irish44j Reader
2/25/10 8:59 p.m.

And since I'm an importcentric goomba sucking on the Japanese tit, let me give you my list (in order) of late-model performance cars I would love to have, if I could afford:

1) Corvette ZR1 2) Corvette Z06 3) Ford GT 4) Porsche 911 Turbo 5) Viper Coupe 6) BMW M3 7) Audi RS4 .................................................. 50) Nissan GT-R 51) Lexus IS-F

JThw8
JThw8 SuperDork
2/25/10 9:11 p.m.
Samurai07SS wrote: it's nice to see so much bias on a forum. warms my heart. the 06 Malibu was a turd. It was the iteration of the old N-body and should've been retired years before. The New Malibu is sitting on the new Epsilon body and is light years ahead of the old car.

Welcome to GRM and relax, sit back, read more than just this one thread and realized this is the most unbiased car forum you will ever find. If we can find undying love for Yugos then we can love GM too. But being unbiased (unlike you) means calling it like we see it and GM has a long way to go to win our hearts and minds.

Samurai07SS wrote: As for GM building a mediocre car, in my experience, my various Chevrolets have held together in beatings you cannot imagine.

Reliability and mediocrity are not synonymous. I have often said that a GM will run longer poorly than most cars will run. I have owned and still own many GM vehicles. They are reasonably reliable if you are willing to overlook some annoyances, but they are uninspiring at best. So are toyotas. Around these parts we like a little excitement with our cars and GM needs to step up and offer alot more than some SS badges or Transformers editions to bring us that excitement.

Samurai07SS wrote: Also, you importcentric goomba, comparing a Cobalt SS to a WRX is comparing apples to oranges. I know, I OWN one. They are not riced out... these cars have the engine and suspension to embarass what is most considered rice out there. I think you need to stop sucking on the Japanese tit.

Wow, again, relax. You will soon learn there is no need for this type of hostility around here. Im glad you own and enjoy your SS. Whether or not it should be compared to a WRX is up for debate, generally I would agree they shouldn't, I think the WRX is in a much different league. The ability to embarrass "rice" is still a far cry from being a true performance car. I think the SS is a nice move in the right direction for GM but its still not what most folks around here are looking for. But guess what, we dont all agree on what makes a good car around here, but we can do so without name calling and hostility. Nooone is sucking any tits...well at least not those of automakers.

Welcome aboard. Try to stop and understand what makes this board different from the 1000s of other flamefests on the net and then post again.

3Door4G
3Door4G New Reader
2/25/10 9:26 p.m.

I've looked over GM's new lineup at the Washington Auto Show and the Motor Trend Baltimore Auto Show.

The new models seem to be very good quality. I know that they're trying to put their best face at a show like that, but the build quality appears to have improved tremendously.

However, quality isn't really enough to carry the day here. There was really nothing exciting going on in the lineup (Not counting the Corvettes of course). I didn't really see any GM product that I'd actually want to buy.

I think GM has a shot, and they may well recover, but they're still going to be passed over more often than not.

Ford, on the other hand, looks like they have a shot to be better than ever. I like a lot of their new lineup, the new Focus and Fiesta especially. I should also mention that their booths were A LOT more crowded than GM's.

JThw8
JThw8 SuperDork
2/25/10 9:31 p.m.
3Door4G wrote: Ford, on the other hand, looks like they have a shot to be better than ever. I like a lot of their new lineup, the new Focus and Fiesta especially. I should also mention that their booths were A LOT more crowded than GM's.

I have spent most of my life as a "GM guy" but if I were to shell out the money for a new domestic product right now I could almost garuntee it would be a Ford product. They are building interesting cars which seem to have decent quality to them.

I really want GM to succeed but they need to fire everyone involved in design or something. Everything they build just screams boring or bargain basement (corvette excluded of course) They aren't bad cars, they are just excruciatingly boring cars. BUT, in the same vein I dont think Toyota has built anything inspirational in years and GM and Toyota are the 2 big ones in the world so maybe noone wants to be excited by their car and appliances sell.

John Brown
John Brown SuperDork
2/25/10 9:35 p.m.

Suzuki07SS, please go back and read all of the news clippings I put in this post. My issue is that GM was chock full of great talent who is jumping off the ship AFTER a prolonged launch of a car that shouldn't be built. It is killing a company that should be a leader but is bureaucratically choked and the top end of the company is more concerned about the Beltway than what's in your driveway.

I own two Dodges currently, my last car was a Chevrolet Cobalt, before that a string of various Ford, GMs and everything else. While I have owned a dozen Mazdas another dozen VWs, two Toyotas and one Honda. I am the farthest from importcentric that you may find.

JoeyM
JoeyM Reader
2/25/10 9:50 p.m.
irish44j wrote: And Buick? Really? Who the hell outside of China wants a Buick?

Judging from how many of these fender accents they sell at my local autoparts store, I'd say LOTS of people wish they had a buick.

irish44j
irish44j Reader
2/25/10 9:58 p.m.
JoeyM wrote:
irish44j wrote: And Buick? Really? Who the hell outside of China wants a Buick?
Judging from how many of these fender accents they sell at my local autoparts store, I'd say LOTS of people wish they had a buick.

Touche' !

GlennS
GlennS Dork
2/25/10 11:50 p.m.
EvanR wrote: Why GM will fail can be explained by my gf's 2006 Chevy Malibu. How many window regulators need to break in 60k miles before people (my gf included) start looking at other options? In this case, precisely two. Two broken rear window regulators in 60k! And of course, they are designed never to be repaired, only replaced. I will give up the two pairs of vice-grips holding up the rear windows so that she can trade that heap in. And never buy another GM product again. Way to go, GM.

I would love for nissan to explain to me why my 01 sentra paint started to peel off at 20k miles. Both front window regulators failed. The windshield wipers were miss aligned from the factory. Two MAf sensors failed. The swirl valve sensor failed. The possitive hookup to the battery needed to be replaced due to innate crapyness. I think there is some other stuff im forgetting but cant remember.

edit: oh the crank position sensor also failed and the valve cover gasket started leaking at about 40k miles.

in 60k miles

Trans_Maro
Trans_Maro HalfDork
2/26/10 12:17 a.m.

A lot of people are still pissed at GM for the godawful build quality of the 80's

I've got 1980's T/A's and Fieros but my '82 corolla is holding together better than they are and it's got nearly twice the mileage.

You can rip someone off for $20,000 once but you'll have a hard time doing it twice.

Shawn

Vigo
Vigo Reader
2/26/10 12:47 a.m.

I dont see why anyone is surprised that all the top people in the Volt program are reeling in on bites from bigger fish.

Think about it.. Anyone who has substantial experience working on a state of the art hybrid or electric vehicle is supremely marketable right now. The 'green' wave is getting bigger all the time. And investors can throw all sorts of money at these people.

What about GM? Well, how much can you really expect GM to pay to retain these people, when Rick Wagoner bites a bullet for not jumping for joy when congressmen suggest he take a $1 salary? When there is a national backlash against high compensation which is almost entirely ignorant of whether someone is actually worth it?

I see this as somewhat predictable. I agree that GM should try to hold on to their best people, but I can also see how now may be a good time to get out of working for them if you're used to having it the old way, and i dont think a company as structured as GM is going to dump extra money on their employees on an as-needed basis to convince them to stay.

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