Management Turnover as Change Agent

Wednesday, November 21, 2007

CEO Watch - Rick Wagoner, GM Update 1

John Stoll of the Wall Street Journal had a story today indicating Rick Wagoner's honeymoon with Wall Street may be over.
The meltdown in the mortgage market and slumping car sales have combined to sour General Motors Corp. Chief Executive Rick Wagoner's brief honeymoon with Wall Street.
Stoll went on to say,
Mr. Wagoner, 54 years old, had earned high marks from many analysts and investors for reaching the new labor deal, which will allow GM to hand off billions of dollars in retiree health-care obligations to a union-run trust and reduce employees in its ailing North American operations. But GM's current problems, if they linger, could test that goodwill.
Stay tuned as the mortgage lending crisis continues wreak further problems. Will it result in Wagoner's head, only time will tell.

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