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...addition, Reuss takes aim at GM's past leadership. "We also have to do a better job of anticipating what the market wants. We have to be a little more agile," he says. Reuss's father Lloyd served as GM president before being removed in a 1992 boardroom coup that ultimately failed to change the company...
...cars GM has sold have come back to dealers, Docherty notes. "We've sold 300,000, and we've had 163 physical returns," she says, making a pointed comparison with the old GM: "What's different from the old GM is we had a tendency to buy our market share. We're going to earn our market share. That's where the difference is," she says. (See the 50 worst cars of all time...
...David Cole, head of the Center for Automotive Research in Ann Arbor, Mich., notes that despite the bankruptcy, GM still holds the top spot in the U.S. car market, with 20% of the market, down from more than 40% in the late 1970s and just ahead of Toyota and Ford. In addition, the new labor contracts with the United Auto Workers have helped GM trim costs by $5,000 per vehicle with changes in health care benefits and work rules. The work rules have been whittled down, giving GM's managers more flexibility and control than they...
...With profits still elusive, one of the criteria for judging success used by Whitacre is market share, and by that measure, GM did improve in the third quarter, as its global share increased to 11.9%, up 0.3 percentage points from the first half of the year. "I took the job with a serious level of skepticism," Whitacre noted in a recent speech in Texas. "Some five months later, I am very pleased to report that my skepticism is giving way to optimism, little by little, day by day. We are much better positioned for success than I thought possible...
Some card companies are tackling the punishing economy with humor. DCI Studios has a Christmas card that doubles as a "new guide to the stock market." Some useful terms: "Broker: What we are this year compared to last year. Merrill Lynch: What we want to do to Merrill. Liquid assets: beer, scotch, vodka, whatever helps...