GM restructuring announcement today - ModernCamaro.com - 5th Generation Camaro Enthusiasts
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post #1 of 7 Old 07-15-2008, 06:48 AM Thread Starter
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GM restructuring announcement today

Just finished watching the GM announcement by Rick Wagoner


The high points:

Decrease truck production by 300,000 units
Reduce sales & marketing budgets - promotions/motorsports/events - $2.5 Billion savings


Reduce 30% salaried/cash work force in North America/Canada
1/1/09 eliminate heath care expense for retirees over 64 years old
Increase pension payments
No base salary increases for 2008 & 2009
No annual bonus for executive group

-- These will save $1.5 Billion

Delay v8 engine development and truck/SUV development
Increase powertrain spending on alternative fuels and small displacement engines



Now for the good news --

Growth and emerging markets are doing very well
Leader in bio-fuels and electric vehicles. Very much in the Hybrid race
Major strides, malibu, CTS, etc.
future products lined up are best in history:

Chevy Cruze, 45MPG 2010 to market
Next Equinox, May 2009 to market
Next SRX Cadillac (previously seen as the Provoq concept)
Cadillac CTS Sports Wagon - Spring 2009 to market
Cadillac CTS Coupe - Summer 2009 to market
Buick Envicta - Spring 2009 to market
Saab 94x - 5 seat crossover - Fall 2009 market

Joe :: Over Anxious 67 Camaro RS/SS L78
5thgenblog.com // Michigan Classics
Chevrolet Camaro in Transformers // My ebaY auctions

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post #2 of 7 Old 07-15-2008, 09:28 AM
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Quote:
Originally Posted by OverAnxious View Post
future products lined up are best in history:

Chevy Cruze, 45MPG 2010 to market
Next Equinox, May 2009 to market
Next SRX Cadillac (previously seen as the Provoq concept)
Cadillac CTS Sports Wagon - Spring 2009 to market
Cadillac CTS Coupe - Summer 2009 to market
Buick Envicta - Spring 2009 to market
Saab 94x - 5 seat crossover - Fall 2009 market

No Camaro in that list?


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Past: '89 IROC-Z|'91 Z28|'00 SS #0795|'01 Z28
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post #3 of 7 Old 07-15-2008, 09:30 AM
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Quote:
Originally Posted by demonspeed View Post
No Camaro in that list?

x2

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post #4 of 7 Old 07-15-2008, 09:52 AM
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Hopefully that means the Camaro is in the "present", not the future.

2010 Stock IBM 2SS/RS

I found $80 in my jeans pocket. The kid in me said "buy nerf guns and candy!" But then the adult in me said "buy vodka, nerf guns and candy!"

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post #5 of 7 Old 07-15-2008, 05:58 PM
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Quote:
Originally Posted by demonspeed View Post
No Camaro in that list?

Thats kinda a given considering the forum we're on.

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post #6 of 7 Old 07-16-2008, 05:37 AM Thread Starter
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Quote:
Originally Posted by demonspeed View Post
No Camaro in that list?

Those were new announcements, I think people already know about the Camaro

Joe :: Over Anxious 67 Camaro RS/SS L78
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post #7 of 7 Old 07-16-2008, 06:25 AM
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Hence, the smiley:

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