Today the Chairman and CEO, Rick Wagoner basically laid out a plan which included the following:
Cut truck production (including selling Hummer)
Cut ad spending
Cut engineering budget
No white collar raises
No executive bonuses
To be frank, I cannot see a plan to cut and to take away being a "plan to win". I am certain it must be a gargantuan task to revive a company like GM, but these measures (albeit critical) cannot be the only major efforts toward success. Where is the growth? Is it all being pinned on the Chevy Volt?
Wednesday, July 16, 2008
GM announcement today of a "plan to win"
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