AFSCME 3357-HOF'S BLOG

Fireworks at the GM Annual Shareholder Meeting?

GM CEO Richard Wagoner is expected to announce a turnaround plan. Since changing anything at GM is like pulling teeth, the Wagoner plan is expected to involve fairies and massive amounts of enamel & dentin stashed under pillows all across the GM universe.

In March, Wagoner announced that GM lost $1.1 Billion in the first quarter. Coincidentally, $1.1 Billion is how much Hyundai spent to build its Alabama plant. Hyundai's plant will ultimately have the capacity to build 300,000 cars and light trucks. Coincidentally, 300,000 is about the total annual sales volume of GM's Buick division, or thought of another way, GM's smallest three divisions (Saab, Hummer & Saturn) put together.



The Car Connection - GM Braces for Shareholder Gripes - This time, it?s Wagoner?s big shot.