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Rick Wagoner

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BUSINESS
July 15, 2009 | Ken Bensinger
It's good unemployment, if you can get it. Rick Wagoner, the former General Motors chairman and chief executive who was unseated as part of the automaker's restructuring, will receive millions of dollars in severance pay, a lifetime salary and other lucrative benefits, according to public documents filed Tuesday. Wagoner's package draws fresh attention to the thorny issue of executive compensation at companies receiving taxpayer aid.
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BUSINESS
December 3, 2009
General Motor Co.'s vice chairman, Bob Lutz, came to the Los Angeles Auto Show primed to talk about the company's Chevy Volt, its electric vehicle rolling out next year. But the only thing anyone wanted to talk about Wednesday was this week's surprise resignation of Chief Executive Fritz Henderson. Though Lutz gamely tried to dodge questions about the leadership vacuum, by day's end he had broken down a bit, revealing that the next person to take the job would probably be a outsider.
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BUSINESS
March 31, 2009 | DAN NEIL
As Rick Wagoner rides off to whatever biz-school sinecure he's destined for, his nine years at the helm of General Motors Corp. will be evaluated in many ways and by many hands. And yet, fairly or not, auto company chief executives are best remembered for the cars produced during their tenure. People still refer to the Cadillac Cimarron as a "Roger Smith" car, and the Ford Mustang will somehow always belong eternally to Lee Iacocca.
BUSINESS
December 1, 2009 | By Ken Bensinger
General Motors Co. Chief Executive Fritz Henderson stepped down today, signaling continued turmoil over turnaround efforts at the troubled automaker. Board chairman Edward Whitacre Jr. will temporarily take over the CEO spot until a permanent replacement is found, GM said. "We all agreed more changes were needed," Whitacre said to reporters in a press conference in Detroit. Henderson, a longtime GM veteran, was named to the top executive job in March, following the removal of his predecessor, Rick Wagoner, at the hands of the Obama administration.
NATIONAL
January 20, 2008 | From Times Wire Reports
General Motors' chief executive says that the sales network isn't shrinking fast enough and that the automaker wants to step up dealer consolidations. Rick Wagoner says GM aims to combine Pontiac, Buick and GMC dealerships, the Detroit News reported. General Motors Corp. reduced its dealer network by about 7%, to 14,118, from 2005 to 2007.
BUSINESS
July 19, 2006 | From Reuters
General Motors Corp. Chief Executive Rick Wagoner said Tuesday that he planned to keep his job even if the Detroit-based automaker entered a three-way alliance with Nissan Motor Co. and Renault. "I have no intention of leaving my position at GM," he told reporters when asked if he would step down should Carlos Ghosn, CEO of Nissan of Japan and Renault of France, win a GM board seat.
OPINION
March 31, 2009
Re "White House ousts GM leader," March 30 The last time I checked, personnel actions within a private corporation were governed by a board of directors and shareholders. As a General Motors shareholder, I do not appreciate the president dictating the dismissal of GM chief Rick Wagoner. This is a private matter. Just as we have separation of church and state in this country, we also need to honor the tradition of the separation of public and private entities. This is just one more step toward nationalization.
BUSINESS
June 4, 2006
Regarding "Why GM Matters" (Opinion, May 26): Rick Wagoner, chairman of General Motors Corp., seems to want to blame globalization and healthcare and retirement costs for the situation his company is in. And yet on another page in this very same newspaper is a full-page ad for a Hummer. Does this man live on another planet? Had General Motors been led by people of awareness and vision, and were they truly socially responsible, they might not be in the mess they are in. The most challenging issue facing life on this planet, besides overpopulation, is a climate crisis caused by global warming.
BUSINESS
March 31, 2009 | Tom Petruno
By the time Rick Wagoner was named chief executive of General Motors Corp. in June 2000, the stock market seemed to know that the company's fortunes had peaked. GM's shares reached their all-time high of $93.63 in April 2000. By the end of June of that year the price had tumbled to $58.06. The stock has been in decline for most of this decade, even in the bull-market years of 2004, 2005 and 2007. GM's sales were $185 billion in 2000 and reached a record $206 billion in 2006.
BUSINESS
August 7, 2008 | Ken Bensinger, Times Staff Writer
Amid rising concern about the company's outlook, General Motors Corp. directors took the unusual step of affirming support for Chief Executive Rick Wagoner on Wednesday. The nation's largest automaker has suffered financially as gas prices have soared, sales have plummeted, values of SUVs and trucks have collapsed and consumer confidence has reached record lows. Last week, GM reported a $15.5-billion loss for the second quarter on an 18% revenue slide.
BUSINESS
July 15, 2009 | Ken Bensinger
It's good unemployment, if you can get it. Rick Wagoner, the former General Motors chairman and chief executive who was unseated as part of the automaker's restructuring, will receive millions of dollars in severance pay, a lifetime salary and other lucrative benefits, according to public documents filed Tuesday. Wagoner's package draws fresh attention to the thorny issue of executive compensation at companies receiving taxpayer aid.
OPINION
March 31, 2009
Re "White House ousts GM leader," March 30 The last time I checked, personnel actions within a private corporation were governed by a board of directors and shareholders. As a General Motors shareholder, I do not appreciate the president dictating the dismissal of GM chief Rick Wagoner. This is a private matter. Just as we have separation of church and state in this country, we also need to honor the tradition of the separation of public and private entities. This is just one more step toward nationalization.
BUSINESS
March 31, 2009 | Jim Puzzanghera
Declaring that the country had reached the end of the road with Detroit's automakers, President Obama on Monday mapped a new course for bailed-out General Motors Corp. and Chrysler in a series of moves designed to force the hands of workers, creditors and others with a stake in the companies. Obama, using the threat of bankruptcy as a weapon, vowed to transform the U.S.
BUSINESS
March 31, 2009 | Tom Petruno
By the time Rick Wagoner was named chief executive of General Motors Corp. in June 2000, the stock market seemed to know that the company's fortunes had peaked. GM's shares reached their all-time high of $93.63 in April 2000. By the end of June of that year the price had tumbled to $58.06. The stock has been in decline for most of this decade, even in the bull-market years of 2004, 2005 and 2007. GM's sales were $185 billion in 2000 and reached a record $206 billion in 2006.
BUSINESS
March 31, 2009 | MICHAEL HILTZIK
By showing General Motors chief Rick Wagoner the door, President Obama is in effect announcing that if the government picks up the tab for a stumbling business, it gets the right to call the shots. The move is as dramatic a reach into the boardroom of an independent American corporation as the government has made in decades, possibly since the '30s.
BUSINESS
March 31, 2009 | DAN NEIL
As Rick Wagoner rides off to whatever biz-school sinecure he's destined for, his nine years at the helm of General Motors Corp. will be evaluated in many ways and by many hands. And yet, fairly or not, auto company chief executives are best remembered for the cars produced during their tenure. People still refer to the Cadillac Cimarron as a "Roger Smith" car, and the Ford Mustang will somehow always belong eternally to Lee Iacocca.
BUSINESS
December 1, 2009 | By Ken Bensinger
General Motors Co. Chief Executive Fritz Henderson stepped down today, signaling continued turmoil over turnaround efforts at the troubled automaker. Board chairman Edward Whitacre Jr. will temporarily take over the CEO spot until a permanent replacement is found, GM said. "We all agreed more changes were needed," Whitacre said to reporters in a press conference in Detroit. Henderson, a longtime GM veteran, was named to the top executive job in March, following the removal of his predecessor, Rick Wagoner, at the hands of the Obama administration.
BUSINESS
March 31, 2009 | Jim Puzzanghera
Declaring that the country had reached the end of the road with Detroit's automakers, President Obama on Monday mapped a new course for bailed-out General Motors Corp. and Chrysler in a series of moves designed to force the hands of workers, creditors and others with a stake in the companies. Obama, using the threat of bankruptcy as a weapon, vowed to transform the U.S.
BUSINESS
March 30, 2009 | Ken Bensinger and Jim Puzzanghera
reporting from los angeles In one of its boldest moves yet into a company's corporate affairs, the Obama administration forced out the head of General Motors Corp. over the weekend and prepared to put both GM and Chrysler on a short leash to retool their operations. The administration will announce today that it has rejected GM and Chrysler's plea for an additional $22 billion in funding.
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