Chat With Fritz Henderson Monday
Please join General Motors President and CEO Fritz Henderson right here on FastLane on Monday morning (May 11) at 10:15 a.m. (Eastern Time) for a 30 minute live chat. We will take as many questions as we can (though in the time we have, I’m sure we unfortunately won’t be able to get to every question), and we look forward to hearing from you. - Christopher Barger, Director Social Media
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Have you seen this?
http://www.youtube.com/watch?v=VKO3J51y8Rg
Question:
1. How does GM plan to survive and win through higher CAFE standards?
2. Will the volt end up a 40 mile electric car? I hear the engineers won’t let the car be tested after the batteries are drained. Wouldn’t it be better to create an all electric car to the market in 9 months having the experience of the EV1, the battery producers already lined up and the Cruze being built in Korea and just work the bugs out with the Volt range extender later?
1. How does GM plan to win with higher CAFE standards in the coming years?
2. Was Wagoner gotten out of the way for bankruptcy, did he oppose it? Shouldn’t directors from investment banks like Goldman Sachs and Morgan Stanley also step down?
3. What would make GM’s bankruptcy much faster from supplier’s Delphi 3 year long bankruptcy?
Longtime member of Camaro5 and 5thGen.org. I have Camaro vin #74 but it has been held up in Pontiac for “repairs” for 3 weeks now. I’d like to ask why, 53 days after it was built, the car still hasn’t been delivered and point out how that affects perception of GM, its dealer network, and it’s customer service.
Please add to my earlier comment today @1:57pm the following clarification:
The biggest issue is not being able to get any information other than the location of my Camaro (Pontiac,MI). There is no excuse for someone not being able to provide my dealer an answer as to when the vehicle will be delivered. A full understanding of why the vehicle is held up in the first place would be nice too but nowhere near as important as an explanation of how a vehicle produced day one could possibly still not be delivered. The generic, “Your car has been put on hold by QC” should not equate to an indefinite amount of time. There are hundreds upon hundreds of people in the same situation I am in and I think we all deserve an answer.
Fritz,
Hopefully your announcing that you are finalizing the sales/closure of Saturn.Saab,Hummer, and a stake in Opel Vauxhall. Three major drags on the companies overall restructuring. Bankruptcy looks likely.
Please announce that you’ve reconsidered and will change the name of the Cruze.
Vibe and Matrix parts interchangeability and commonality?
CEO Henderson,
Not sure where to ask this question. I don’t expect you to answer, but perhaps one of your staffers at GM HQ can jump in with an answer.
I can get a great deal now on a Pontiac Vibe and am thinking of buying one for my daughter. I’m not concerned about the warranty, since the Feds have said they will guarantee that. But what will parts availability be like?
Is there enough commonality between the Vibe and the Toyota Matrix that I will be able to get any engine, transmission, or body parts I need from a Toyota dealer once you have shut down all your Pontiac dealers?
By the way, I think your Pontiac division hit a home run with the Vibe. How much of the credit goes to GM versus Toyota, and is there any chance of Chevrolet taking over the Vibe?
When are you going to announce the specific plant closing sites?
Fritz, very good answer on the question about SAAB! With the new car line, this brand really has a future!
>>> Comment From Sebert — R6P Camaro orders, there seems to be much confusion as to why some of the early order customers are Waiting for the cars while people can by them at dealers.
>>> Fritz Henderson: the response to camaro by dealers and customers has been fantastic. we plan to continue to ramp up production at our oshawa complex and fill orders as soon as possible. in the meantime I suggest you continue to speak with your dealers regarding specific orders while we run fast to get production ramped.
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This is either a complete whitewash or a misunderstanding of the Camaro early order program by GM’s CEO. Certainly, he has had a lot of stuff on his plate, but could it be the CEO doesn’t realize how the badly mismanaged R6P program is alienating Camarao enthusiasts?
And why would the CEO call the assembly plant at Oshawa a “complex” instead of an assembly plant or a factory?
Mr Henderson,
This is a great way to communicate with your customers (we have 4 GM cars in this household, 2 Oldsmobiles, 1 Pontiac, 1 Buick). What does the future hold for Buick? Will there ever be 2 dr/ convertible Buicks again!????
Dewey,
It does sound as though GM’s CEO is oblivious to the problems Chevrolet is having with the Camaro early purchase program, doesn’t it?
Former Los Angeles City Councilman and California State Senator Nate Holden says GM was “short sighted” when they destroyed the EV1. He expresses his feelings in this video, filmed with the EV1 at the Petersen museum.
http://www.youtube.com/watch?v=VKO3J51y8Rg
General Motors has the best looking electric car made for regular folks. It has a great following because of it’s story. General Motors should bring back the EV1. It is a wonderful car.
The next C7 hope the effort that the release of the Corvette
Aluminum frame and body of the C6 is now way to smaller and lighter than
The design of the hybrid car’s combustion engine technology and lightweight, it is difficult to further develop hybrid system control technology.
Those who criticize the EV1 that GM is not just mashed the criticism against the report and requests made to improve or correct the GM?
I was in the spread of electric vehicles will have to build more electric cars can recharge the power grid and should be improved. The purchaser of the electric vehicle is in its obligation to pay. to plugin hybrid car sales are not available in their home form is not charging more.
To popularize electric cars in the U.S. is not possible, and unless you gave the car improved hybrid system with diesel and gasoline engines.
The festive crowd of electric vehicles in the row in the U.S. and now we wait to be equipped with a hybrid system in a sports car like the Corvette is like playing with toys available. Toyota made the LS600h is the reason we know it.
I need a GM if there are capital and technology that can answer the question of whether a green muscle car. Why can not the parts supply and technical cooperation with Japanese car manufacturers to survive the competition to be honest and admit to themselves, and efforts will be required to unify the standards.
With the idea of selling in the U.S. probably made cheaply in China if the GM is a GM executive to consist of all of China.
If such a tragedy C2 and C3 can not become a part of those who manage to have a Corvette. Probably the worst ending.
If you make a GM bankruptcy
GM parts companies have to pay part of the world and has worked for people,
Are required for a sincere response.
Everybody does not want GM bankruptcy. Have to be the cause of repentance to the people who made a bankrupt if you are bankrupt.
If a sincere effort to respond to believe that GM will always be revived.
Mr. Henderson,
As a GM shareholder who will likely lose my investment, I have four requests. First, please rebadge the Pontiac Vibe as the Chevy Nomad. This vehicle which is built at NUMMI, the joint venture plant with Toyota, deserves to survive. It is the only GM vehicle to receive a predicted reliability rating of excellent or much better than average from Consumer Reports magazine. Therefore, it is a standout among the vehicles that GM offers across the divisions. Incidently, unlike GM, almost all of Honda, Toyota, Acura, and Infiniti vehicles received a predicted reliability rating of excellent or much better than average from Consumer Reports magazine. It should be an easy decision since GM will already essentially be rebadging the Pontiac Torrent as the GMC Terrain. Second, under the NUMMI joint venture, please negotiate a modification to the agreement to have the rebadged Pontiac Vibe buit and offered with the option of the Toyota Hybrid Synergy Drive System, similar to what is now done with the Toyota Camry, to enable it to achieve superior fuel economy numbers for its class. Third, modify the NUMMI agreement with Toyota to expand the joint venture at the existing or another underused GM plant to build a sedan or coupe version of the Corolla as a Chevy. The vehicle could be named Chevelle, Nova, or Citation. This vehicle could add the aforementioned engine system and would reasonably add another vehicle to the GM stable could attain a predicted reliability rating of excellent or much better than average from Consumer Reports magazine — translating into higher resale values and potential future as a result of favorable reviews. Fourth, please start leveraging better the benefits of NUMMI across GM. This means setting a performance target to achieve a predicted reliability rating of excellent or much better than average from Consumer Reports magazine for every GM vehicle in the product line. It also means, designing and building vehicles across GM with a minimum baseline of features including as standard features passenger assist grips at all four doors, locking fuel filler doors, three adjustable rear seat headrests, telescoping/tilt steering wheels, lined trunk lids, strut type passenger car trunk hinges, and height adjustable driver seat, and as an optional feature full size spare tires.
Quetion: I test drove an electric Saturn somewhen between 1994 and 1997. What happened to this car, why was it taken off the program and where could I read more about it?
Here are some pictures of the 2010 Opel Astra. It’s simply fantastic. When will u learn a lesson and bring it to the US as Chevy Astra? Don’t you think people want good quality small cars?
http://carscoop.blogspot.com/2009/05/2010-opel-astra-fully-revealed-new-14.html
I remember way back last September when Mr. Wagner said bankruptcy was not an option. However, Mr. Henderson all I hear from you is bankruptcy. It seems like it is every option for you. That leads me to the conclusion that is why you are CEO now and he isn’t. Am I wrong?
I also remember when Mr. Wagner was told not to spend any TARP Loan Funds out of the country, but he did. $1 billion was spent in your Brazilian plant. How come you still think it’s ok to break the rules and spend TARP Funds out of this country? Or did the rules change when I wasn’t looking? Yes, I am quite aware that you plan to close 4 U.S. plants here, expand your foreign operations and then turn around and ship those foreign made vehicles into this country.
I HAVE HAD IT!!!!!!! I have several family members that work for you including my husband and daughter. I have several family members that are retirees of your company. Actually, my grandfather started working for you in 1928. Still, I HAVE HAD IT!!!!!! If you are going to continue eliminating jobs in the U.S. and increasing jobs in other countries, then I advocate for BANKRUPTCY, Chapter 5. If you are going to take OUR TAX DOLLARS and OUR JOBS AWAY, then I advocate BANKRUPTCY, Chapter 5.
Do you even have a heart, soul or conscience? It sure doesn’t look that way. Mr. Henderson you said EVERYONE must sacrifice during this time, yet during an interview you said you would be keeping your $13 million salary. Mr. Wagner was working for $1. Where is your sacrifice? Your salary alone, without bonuses, could keep 26 families with a paycheck for a yr. Would you like to go to those 26 homes and explain to those families why you deserve $13 million a yr. from a bankrupt company while they can barely feed their children and they are losing their homes?
I am tired of worrying everyday. I am tired of fighting for you everyday and taking abuse while I do so. JUST GO BANKRUPT ALREADY, LIQUIDATION!!!!! Then, we can “try” to go find other work and get on with our lives.
Change the name of The Cruze and we’ll know you mean business.
I’m not sure which is worse the Government or the UAW controling the majority stake in GM.
That new Camaro sure is nice.
The last Packard was pretty nice too.
Should we be concerned and hurt by the optics of the stock sell-off by GM Executives? In the trenches and on the street we’re actively defending this fabulous company every way to Sunday against bad press and negativism, and in one fell swoop, these efforts are made to appear naive. Even if there was no legal conflict of interest, motivationally, there is. Any chance these folks might publically re-purchase now that the price is lower and drive the price back up?
Would Mr. Henderson like to comment on the report that many GM executives have recently sold their stock in the company? I would assume that means that they know, for a fact, that GM is going to file for bankruptcy. Many of us are long time supporters of GM and have purchased vechicles from you. Many of us also have lost patience. GM’s continued poor management and manufacturing auto’s outside of this country have worn us down. I do not find that you yourself have agreed to take a lower salary. While you currently have some great products, including the Cadillac CTS, soon to be GMC Terrain, new Buick LaCrosse and others I am no longer sure who will purchase your products? I don’t anticipate ever again owning a GM car. Why should I continue to support your efforts when, if you survivie, you intend to move more production to other countries. The City of Detroit struggles and yet you indicated that you might move the GM headquarters from there. My opinion is that you should quit taking taxpayer money and file for bankruptcy liquidation!
Is Mr. Henderson aware of the fiasco the Camaro early purchase program has become, and how it is alienating even the most passionate Camaro fans?
Kay,
Your math is off by a factor of ten. Mr Henderson’s annual salary of $13million would allow 260 GM workers and their families to each have an annual income of $50k.
Not one mention of the distribution network (the Dealers) who have committed their resources, assumed the responsibility and risk involved with employing a large number of people and are waiting for a letter that may say ” sorry your point is being elimated”. It is my understanding that the Dealers that are to be closed will only be paid for their new car inventory, parts inventory and essential tools. Since new cars are on floorplan the only cash that will change hands is the cost of parts and tools. Most Dealers LIFO obligations will far outweigh that amount. The negative press associated with GM and the government is destroying Dealers and their employees, who have families and are your friends and neighbors. BUY AMERICAN is not a political statement but a patriotic one. The Motor City (Detroit) needs a stronger more efficient GM to stay home where it belongs. It doesn’t matter if Fritz makes 13 dollars a year or 130 million a year it will not change the inevitable, bankrupcy and reorganization. The ripples of lost Dealers, lost jobs by dealer employees and the vendors that do business with the Dealers combined with a huge loss in tax revenue is going to be devastating to this country’s economy. Y2K was a hoax but I am afraid that this is real.
Talk with Fritz…hahaha. Does anyone think he really cares? I think all he really cares about is his Salary and any bonuses he’s gonna make once GM is finally gone, just like Mr. Wagoner. They talk about ‘restructuring’ and ‘customer confidence’. Rather funny to me… noone, except the workers, realize the majic ingredient to their great plan is: ‘CUSTOMERS’. ‘Cause you can’t have any sort of business without those, and General Motors has become quite proficient at getting rid of them. General Motors has lost not only me, but my daughter, my parents, my brothers, and all of my friends and coworkers (and anyone else I come into contact with) as customers because of their complete and total disregard for me as a customer. You see, I fell for the ‘buy the great american Icon, GM’…’American Made’. I fell hard enough for it that I bought two (2) GM vehicles. I bought an extended warranty on my daughters, just in case…to be safe…for her. She was 16. The motor blew 8 months after I bought that car, Grand Am. Dealer did not honor the warranty, neither did GM. I just replaced the motor in the other one, Bravada and replace the Air Conditioning System every spring, and the Heater every fall. Only 100,000 miles. Bought it cause I thought the motor would last at least a couple hundred thou before any trouble. I have now sunk enough money into that vehicle, I will never get out from underneath it. Lost thousands on the Grand Am, and now loosing thousands on the Bravada. Yet, GM ‘GIVES’ a brand spanking new vehicle to their management every six months. That is disgusting. You ‘Reap’ what you ‘Sow’ General Motors…’Great American Icon’. Do you really think I, or anyone else that is familiar with my situation will ever buy a General Motors Vehicle ever again? And I DO mean EVER AGAIN? Can you even say ‘Customer Service”? I think the Government should let happen what happens. A new Auto Manufacturer will take your place, one that understands Customer Service, and all will be well with the world again and we can read about the almighty General Motors in our History Books.
trent most new design cars are held for 2 weeks at the factory to make sure there are no problems with production. this way if a problem does show up it can be fixed before the customer get the car. i have had this happen several times with new model corvettes.believe me i know it is hard to wait for your new car.
How do you sell Opel to Fiat after the bath GM took from a company from the last joint venture.? The latest Opels which should probably have been Chevy”s with new Astra’s makes me wonder why, other than the Chevy brand name, that you still try to penitrate the European market with Chev’s. The US wants more than a Zeta Camaro. You have the investment in Zeta with new Impala reguardless if’s SS. Let it run and get that investment back.
I have a feeling that GM will have a stock pile of inventory in the near future. I currently own a Chevy Truck and as soon as the news was announced that GM planned on cutting 1100 dealers, I immedieately put a FOR SALE sign in the window. I, nor anyone in my family will ever purchase another GM product. Fords are looking mighty attractive right now. GM executives, congratulations, you were successful in running one of the most influential corps in this century to the ground. You should be proud of yourselves.
How much money will GM need to raise in the next 2 years to meet its current aspirations and turn a profit?
Just want to advise GM on what vehicles to build in the future.
1. Build a Malibu MAXX again. including the SS but make seating more comfortable.
2. Make some changes to the Impala including making the seats more comfortable.
3. Do a remake of the old El Camino on the new Malibu chassis. Include Front wheel drive and a all wheel drive. Include a SS with new Camaro engines. Maybe a lift off hardtop.
4. Remake the old 57 CHEV like you did the Camaro. Include a convertible. Also SS.
5. Include a convertible on the new Camaro.
Myself like many other, have worked many years for GM, and since outside the US there is no pension fund, you have to build your own; so I built my own based on GM Bonds, now all my investment, and my retirement fund are going to be completly wiped out. The UAW is getting for $ 10 B US 39% ownership, we the investors that believed in GM, are getting 10% for $ 27 B US. Is this fair? Is it fair that because of mismanagement, we the investors have to lose everything? Just some food for thought.
Luis Ortiz
Very sorry to hear loss of pontiac, which was a go getter for gm and all companies copied pontiac at one time. You folks did not advertise the gto very well and neither the rest of the pontiac line. It isa shame, pontiac is special always has been. You are making a big mistake, my family has owned pontiac since 1937 and I own 12 pontiacs from 1950 through 1997 I want a new solstice but the credit situation is a problem. I sure hope you will reconsider pontiac, and just look at the people you have put out of work. I am not very happy with the Obama administration. No one in this country seems to get it, the foreigners have taken over. Well gm one more pontiac, and I am done with buying gm cars. I ate, slept, dreamed, pontiac and stuck up through thick and thin against all the other car factorys, and you have finally drove the final nail. I really feel bad and this is affecting our whole family.
Pontiac was the custom fun and performance oriented automobile who led the nascar very well in the early 60’s and could have stayed there if you would have had the insight to stay with them and keep the fantastic cars coming, but you didn’t and now Toyota in nascar, I just can’t stand it and it is a real shame to let the world tell us after we were the car capital of the world. I am sick.
I’m sure you know that millions of Americans are pulling for you to find your way through this recession. I’m sure there are difficult decisions and actions, and I encourage you to act sooner rather than later.
Someone at GM had to have thought of this: As a “one pay” lease customer, I think GM must have many millions of dollars locked up with lease vehicles that will return one day and likely retail well below the original estimates of retained value. There are customers like myself, who are happy with the vehicle and given the right offer would pay GM in cash to take possession of the vehicle.
I of course have no idea how much quick cash could be raised in this manner, but both loyal customers and business customers would respond to what they believe is a fair discount, and this also has the possbile advantage of taking a future liability off your books.
Good Luck! And don’t forget to rally your customer base!
Please explain in more detail how GM saves so much money by closing GM dealerships. Understand that dealerships are private business where is the savings? When GM is trying to boost sales of their products it would seem to be an advantage to have as many dealerships as possible selling their cars.
as i told GM 3 years ago the progress is in flexebility
building electric cars is fairly cheap and easy you dont have to re desighn current models to much . electric drives, batterys, and optional modular recharge / charge modules leave a lot flexebility even for future improofements and power module changes……….. we got a lot to do ……………questions call 541 580 1143
i have a cadillac cts is 60 mpg average running in gas why you dont . ask yourself this question before talk about the future in GM, your company never been totaly honest about new technologies,the future is here and is all about change in your policies in new technologies ,we have a crisis in every level and your so call solutions will only deepens your company in the hole,the technology is available right now and is out there , is not time for PR is time for actions