Word: reuss
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When Fritz Henderson abruptly resigned earlier this month as CEO after failing to get a vote of confidence from GM's new board of directors, chairman and acting CEO Ed Whitacre wasted no time in elevating a team of young executives to power positions, among them Mark Reuss, 46, named president of GM's North American operations, and Susan Docherty, 47, named vice president of sales and marketing, making her the most influential female executive in the company's 101-year history...
Some of what the new leadership is saying sounds familiar, such as Reuss's assertion that GM can't afford more talk about being merely "competitive" with Asian carmakers but instead must build "the best" vehicles. He also probes deeper: "We have to rebuild our relationships with customers," says Reuss, who was in charge of GM's engineering organization before his promotion and now openly volunteers that he is disappointed by GM's poor showing in the recent Consumer Reports rankings of vehicle quality and dependability. Reuss blames the bad rankings on an internal GM culture in which employees were...
...Reuss, economist at Piper Capital Management, based in Minneapolis, Minn., believes a recession could occur in the U.S. early next year. He pins his forecast on the debt-burdened consumer. Reuss estimates that half the households with less than $50,000 in annual income have non-mortgage debt equal to 24% of their take-home pay. "That is an all-time high," he notes, adding that the stress is apparent in rising bankruptcies and the recession-like 5% annual growth in consumer credit. A more normal credit growth rate is 10% to 15%. Now tack on uncertainties from a tumultuous...
...Swedish division of Warner Music is releasing her first album in 12 years, Djup Andetag (Deep Breath). It's in Swedish, so the songs may prove blessedly less tenacious than ABBA hits like S.O.S. Since the band broke up, Lyngstad, who's married to Italian architect Prince Ruzzo Reuss, has worked with environmental and antidrug causes in Switzerland. Agnetha Faltskog has lived in heavily guarded seclusion in Stockholm, and Benny Andersson and Bjorn Ulvaeus have been working on music projects. Lyngstad's not the only one resurfacing. Faltskog will publish an autobiography and greatest-hits CD this month...
Former U.S. Rep. Henry S. Reuss (D-Wis.), a close friend of Galbraith for more than 50 years, said the professor's input had been invaluable in his political career...