Drama in Detroit

GM boss rolls the dice again. This time it’s for keeps

words motor trend editors

YOU COULD say Rick Wagoner almost got away with it. News GM had lost $1.6 billion for the third quarter of 2005 (even though revenues for the quarter were up 5.2 percent on last year to $47.2 billion) was almost lost in the excited chatter surrounding the last-minute deal with the UAW to reduce health-care costs. But cooler business heads noted the deal will save GM only $1 billion a year-roughly two-thirds the amount it bled in just three months. Not surprisingly, Detroit is swimming in rumors that a management shakeup’s in the works. Wagoner Is young enough to preside over the Renaissance Center corporate offices for another dozen or so years, but he won’t have that tenure unless the world’s largest automaker starts making money again and unless he can…

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MotorTrend (Digital) - 1 Issue, January 2006

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