The king returns with a queen at the helm - General Motors

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    Dec 13, 2013 5:06 AM GMT
    http://www.businessweek.com/articles/2013-12-12/exclusive-the-inside-story-of-gms-comeback-and-mary-barras-rise
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    Dec 13, 2013 5:10 AM GMT
    "Yet the Tech Center is the heart of the company, the seat of a $15 billion product-development operation. It’s where GM created the latest Chevy Impala and Silverado, called America’s best sedan and pickup, respectively, by Consumer Reports in 2013, and the Cadillac CTS, which Motor Trend named 2014 Car of the Year. J.D. Power & Associates (MHFI) recently named GM No. 1 in its annual Initial Quality Study—the first time any American automaker has landed the top spot in 27 years. Privately, Akerson basks in these accolades—he’s called the J.D. Power award one of his proudest achievements. At this meeting, however, he’s his usual stern, admonishing self. He warns employees not to lose sight of what still must be done. “I’ll tell you what,” he says, “you’re only as good as your last launch.”"
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    Dec 13, 2013 5:58 AM GMT
    amazing what $700 Billion of your taxes dollars will do. BTW the gov't lost about $10 Billion on the deal.
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    Dec 13, 2013 11:30 AM GMT
    somersault saidamazing what $700 Billion of your taxes dollars will do. BTW the gov't lost about $10 Billion on the deal.


    $700 billion? Stutter a bit on the zeros?

    "And GM is no longer “Government Motors.” On Dec. 9, the day before Akerson announced his retirement, the Department of the Treasury, which had been selling about 1 million GM shares a day as the year was ending, declared it had sold the last. The federal government will recoup about $39 billion of its $50 billion investment. Supporters of the Obama administration’s decision to take over GM, who now include Akerson, contend that the jobs saved at both the company and its huge network of suppliers more than repaid U.S. taxpayers. According to the Center for Automotive Research in Ann Arbor, Mich., the takeover preserved 2.6 million jobs in 2009 at automakers and companies that depend on the industry. The center calculates that a collapse would have eliminated $284 billion in personal income in 2009 and 2010 and cost the federal government $105 billion in unemployment benefits and reduced Social Security contributions. GM says it has invested $8.8 billion in U.S. facilities since 2009 and created 25,500 jobs for new and existing workers."
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    Dec 14, 2013 8:30 PM GMT
    freedomisntfree said
    somersault saidamazing what $700 Billion of your taxes dollars will do. BTW the gov't lost about $10 Billion on the deal.


    $700 billion? Stutter a bit on the zeros?

    "And GM is no longer “Government Motors.” On Dec. 9, the day before Akerson announced his retirement, the Department of the Treasury, which had been selling about 1 million GM shares a day as the year was ending, declared it had sold the last. The federal government will recoup about $39 billion of its $50 billion investment. Supporters of the Obama administration’s decision to take over GM, who now include Akerson, contend that the jobs saved at both the company and its huge network of suppliers more than repaid U.S. taxpayers. According to the Center for Automotive Research in Ann Arbor, Mich., the takeover preserved 2.6 million jobs in 2009 at automakers and companies that depend on the industry. The center calculates that a collapse would have eliminated $284 billion in personal income in 2009 and 2010 and cost the federal government $105 billion in unemployment benefits and reduced Social Security contributions. GM says it has invested $8.8 billion in U.S. facilities since 2009 and created 25,500 jobs for new and existing workers."


    Word.
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    Dec 14, 2013 8:36 PM GMT
    Good for her promotion. When I first heard this, I thought she was just gonna be president of one of the nameplates. I hope she's as productive as her resumé makes her and not another Carly Fiorina. This company is still fragile and they can't afford to make any mistakes.
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    Dec 14, 2013 9:47 PM GMT
    FastlaneKid saidGood for her promotion. When I first heard this, I thought she was just gonna be president of one of the nameplates. I hope she's as productive as her resumé makes her and not another Carly Fiorina. This company is still fragile and they can't afford to make any mistakes.


    It's too competitive ... none of them can. They're now making money hand over fist and coming out with great product.

    I was wrong about Lt. Dan in that I thought he was totally out of his element running a car company, but it's turning out that he's done pretty well managing the transition from a BK 11 back to a profitable company.

    I don't think that Mary will be worse by a long shot, but I've never found a female who makes a good 'car guy'. She does make thing happen and happen correctly, and her product launches have been just about flawless. Mark has Bob Lutz's old job so there's definitely a car guy heading up product development. Mark gets it and just about as well as Lutz did. He's one of the true believers. Thing I'd be concerned about is Mark is now dispirited and will hang it up

    It's just hard to imagine a COPO, Z/28, ZO6, ZL1 or ZR1 happening with a female heading up the company. Really high performance cars have always been a men's domain. Maybe she'd be a good fit at Honda, Toyota or Hyundai where you're making rolling appliances, but not at GM or MB or Porsche or Audi, etc. Time will tell.