Three months after emerging from bankruptcy, the leaner meaner General Motors is already crashing and burning. Guess it’s time to shovel more taxpayer money down the rat hole…
Sharon Terlep, WSJ: General Motors Co. hasn’t met several significant goals it planned to achieve by year’s end, including work force reductions and the sale of failing brands.
Chief Executive Fritz Henderson on Wednesday outlined progress made by GM in the 90 days since it emerged from bankruptcy protection. While GM has made strides in several key areas, the car maker has fallen short in others, he sad in a conference call with analysts and reporters.
Mr. Henderson also announced that Mark LaNeve, GM’s sales chief and longtime executive, is leaving for a job at an unidentified company. Mr. LaNeve headed sales and marketing until Mr. Henderson restructured the management team and put former product head Bob Lutz in charge of marketing.
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