Word: fritz
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...Another risk: GM CEO Fritz Henderson is under pressure from GM's new board of directors to turn around the company's fortunes quickly, and he has indicated the automaker is prepared to drop Hummer if it can't finish the deal relatively soon. "If it doesn't get sold, we'll close it," says a GM official. (See the best cars from the 2009 Detroit auto show...
...Fritz Henderson phoned Chancellor Angela Merkel's office Thursday to seal the deal. The decision to sell Opel and Vauxhall to Magna is a coup for Merkel who has staked her credibility on the bid, a joint offer from the Canadian car-parts manufacturer and Russia's state-owned Sberbank. Since May, Merkel and the German government have thrown their weight behind Magna's offer, arguing that Magna already had extensive experience in building autos. Berlin also likes the fact that the Magna bid will keep open Opel's four factories in Germany, thus saving more jobs there than rival...
...Fritz Henderson announced this week that the company's much anticipated Chevy Volt (half electric, half fossil fuel) is the undisputed winner in the miles-per-gallon race, claiming that under new EPA guidelines the Volt will hit 230 miles per gallon (city), the first car to ever earn triple-digit fuel efficiency. Not to be outdone, Nissan fired back a few days later to its Twitter base of fans that its just-announced all-electric Nissan Leaf would be rated at 367 m.p.g., also using EPA guidelines. (See the 50 worst cars of all time...
MARCH 29, 2009 Fritz Henderson takes over as CEO after longtime chief Rick Wagoner's ouster...
...first genuine hybrid in the critical pickup-truck segment, which represents 15% of the total U.S. market. It's promising but a bit undernourished - the launch of this new hybrid truck has been undermined by cuts in production and advertising as GM has struggled to conserve cash. GM CEO Fritz Henderson says company-wide production should level out during the second half of 2009, and Peper asserts that advertising across models will increase over the next six months. If the hybrid Silverado is successful, it could be a very tangible sign that GM is on the way to recovery, since...