News: GM's Henderson: Corvette's future is secure

[Key West Jack]

Now the government owns a car company. The government is political and only political. Decisions in the company that used to be made based on the market and market forces will now be made based on politics. If it is politically expedient to make corvettes in green thats what will be done. If it is politically expedient to discontinue the line, thats what will be done.

 

[ken mohr]

The ability to survive belongs to the GM execs and they should keep that in mind. They will be responsible if they fail.

The gov wants gas consumption down because of the middle east problems. This has been going on for years and that is not the gov either. We did that. Stop buying gas guzzlers for daily use and the middle east becomes irrelevant. The regulations will or should not effect special interest cars just daily drivers.

 

[njlouc]

Ken.... How wrong you are. What we have here is a bunch of Lib/socialists who have hit the socialist lottery. They will never let "let a good crisis go to waste" as they have said. In addition to the normal blab about saving the planet, they are now in a position to be vinditive. And YES they will take advantage of it!! Truly a dream come true!!! This is the "perfect storm".

 

[ken mohr]

Not I that is wrong. With all that is going on in the world the last thing anyone in washington wants is to run GM. GM wants to borrow money and the Gov has set the rules for the loan. SMART BUSSINESS. It is up to GM to be succesful. With Iraq, Inra, Israel, Pakistan do you realy think anyone in washington wants to take over GM?

 

[MARLTON LT-4]

Not I that is wrong. With all that is going on in the world the last thing anyone in washington wants is to run GM. GM wants to borrow money and the Gov has set the rules for the loan. SMART BUSSINESS. It is up to GM to be succesful. With Iraq, Inra, Israel, Pakistan do you realy think anyone in washington wants to take over GM?

That is exactly what the president said last week. I am glad you bought it, but I do not. This entire adminsitration is about the control of every facet of our life. Just listen to any of his speeches. Owning control of GM gives them power which is what the game is all about!! If owning the car companies is what they have to do to satisfy their UAW croonies and make "green" cars, so be it.

 

[damoroso]

To answer Ken's post, yes I do think people in Washington do want to take over GM. It helsp them politically with the UAW, who has backed Dem's forever. Perhaps the only other organization that's backed Dems more is ACORN.

Like I said in an earlier post, there isn't really anything the government runs really well, because EVERYTHING is political to them!! Nothing is about the long term health of anything, or doing the right thing, it's all about the next election results.

Really there doesn't seem to be much difference between the liars on the left and the liars on the right. They basically all suck and they should all be fired. That's where we come in. We the people have the power, we've just refused to really use it. I suggest that no matter where we as individuals are politically, left or right, we can come to terms. We do it all day long in our lives. At work and play, or even in conversation with family and friends. It seems to the Democrats in government that nothing the Republicans say or do is ever correct, right or good enough. And the Republicans are just as bad. As a result, the ONLY time things get done is if there's a clear majority in either party. What BS. Talk about loosing checks and balances!

So, WE have to get and keep ourselves better informed, (ABC, NBC and CBS certainly isn't going to do it!!) and VOTE in every election. There are many seats coming up for re-election throughout the country before the presidential election and we should take advantage of it. I mean really, do we want John McCain, Orin Hatch, Nancy Pelosi, Harry Reid and their kind running ANYTHING???

Folks, perhaps the good news in all this is that we're talking about it. I've been a GM guy all my life. With only one exception (my wife's car) I've only owned GM cars. And I don't suspect I'll ever change that right or wrong. Even if and when it does become Government Motors (ouch that hurts to even say...)

 

[ken mohr]

If you think about it the right or left has nothing to gain by taking over any company. It is a loose loose situation. Obama, Biden McCain, ETC do not care about you or me as an individual. You tell me what decisions
Obama has made to correct the GM problem. For that also tell me what washington has done to run GM, Ford, or Chrysler?

 

[damoroso]

Well, the current administration basically demanded the GM CEO step down (should have been a board decision), and look at the so called deal for Chrysler....are you kidding?? The UAW gets controlling interest??? And this from a guy who never worked in the private sector EVER. I'm not suggesting the managment of these companies aren't without blame, for instance, why the heck has it taken so long to get the Camero to market? Who negotiated the UAW contracts in the first place? Who's been avoiding bankrupcy that could have forced restructuring that's been much needed anyway...managment.

Then, cap it off with the regulatory requirements US manufacturers have to abide by, MPG and so forth (remember those wonderful safety bumpers in the late 70's??) that the imports don't have to and I think it becomes clear the impact DC has had on them. By the way, when you think imports, go beyond Toyota, Honda and the like. Don't forget Mercedes (and others), who pays fines rather than comply with some of the MPG requirements because it's more cost effective than alterning the brand and they still sell a boat load of cars.

Anyway, this stuff give me a headache, I'm going to go put Hushmat in my 81!!

 

[hoosierdaddy]

Boys & Girls GM is going to make it; a national tune up has been needed for years!

Don't forget or even under estimate the unions and who really runs them either; enough said hnoes

Bill

 

[jimmyb]

Well, the current administration basically demanded the GM CEO step down (should have been a board decision), and look at the so called deal for Chrysler....are you kidding?? The UAW gets controlling interest??? And this from a guy who never worked in the private sector EVER. I'm not suggesting the managment of these companies aren't without blame, for instance, why the heck has it taken so long to get the Camero to market? Who negotiated the UAW contracts in the first place? Who's been avoiding bankrupcy that could have forced restructuring that's been much needed anyway...managment.

Then, cap it off with the regulatory requirements US manufacturers have to abide by, MPG and so forth (remember those wonderful safety bumpers in the late 70's??) that the imports don't have to and I think it becomes clear the impact DC has had on them. By the way, when you think imports, go beyond Toyota, Honda and the like. Don't forget Mercedes (and others), who pays fines rather than comply with some of the MPG requirements because it's more cost effective than alterning the brand and they still sell a boat load of cars.

Anyway, this stuff give me a headache, I'm going to go put Hushmat in my 81!!

Safety and emission regulations apply to all car makers that sell cars in the US, domestic OR import and always have. Since you mentioned M-B, don't you remember those horrible chrome and rubber bumpers on the SL's of the late 1970's/early 1980's? The only execption I can think of is Ferrari getting an exemption on the passenger airbag on the F430. As far as gas guzzler taxes, that's up to the maker if they want to avoid them or not ( the CTS-V and ZR1 both have gas guzzler taxes on them).

Jimmy

 

[hoosierdaddy]

Obama has made to correct the GM problem. For that also tell me what washington has done to run GM, Ford, or Chrysler?

Ford did not take any bail out money hnoes

Bill

 

[73shark]

Remember most of the Obama crowd drive imports. :bash

If the GTO and Camaro are GM's idea of retro, not sure I even want to see what the Nomad might look like.

And last, does anyone want to drive a car built by a company run by the gov't that runs the Post Office, Amtrak, and Social Security? hnoes And yes, Obama does want to run the car companies, banks, health care, and every other aspect of your life.

Atlas Shrugged.

 

[Evolution1980]

Remember most of the Obama crowd drive imports. :bash

Not that I really care one way or the other, but it surprises me that anyone would make such a blatant blanket statement with (likely) no concrete studies done to support that assertion.

 

[Patrick]

Not that I really care one way or the other, but it surprises me that anyone would make such a blatant blanket statement with (likely) no concrete studies done to support that assertion.

Ahem. CLICK.

 

[Evolution1980]

Ahem. CLICK.

If "the Obama crowd" referenced by 73shark is only a reference to the people in the inner-circle of the administration, then OK :eyerole. But I believe it's a relatively weak sampling and not very scientific in it's planning & execution. Not that it claimed to be anything else, but it certainly wouldn't meet my qualifications as a concrete or comprehensive study.

I took 73Shark's comment to be indirectly(?) pointing a finger at "democrats" as being "unamerican". Delving any further into discussion of such a study or what is "american" or what is an "american car" would only serve to hijack this thread. And as I stated, I don't really care one way or the other. :cool

 

[Rob]

This morning GM CEO Fritz Henderson held a live webchat with online readers of the FastLane Blog. Below is a copy of that webchat. Notice his comments regarding Corvette:

WEBCHAT
10:15 Fritz Henderson:
good morning. this is fritz henderson and thanks for joining us. first question from one of our reader comments.

10:15 GMBlogs: How does GM plan to win with higher CAFE standards in the coming years? -Robert Kubler

10:17 Fritz Henderson:
it starts with fantastic cars well engineered, lighter, more aero, with segment leading fuel economy enabled but superb and highly efficient powertrains. next, we introduce advanced propulsion technology into our line up, for example the volt by end of 2010. we already have 8 hybrids in the market today, with more coming. finally, we continue with key research work to ensure that we are able to support promising technologies such as fuel cells. 100 on the road today with great feedback.
10:17 Comment From John Heim: What will happen to the salaried pension fund In or out of bankrupsy---will it be turned over to the govt ?? or will G.M. continue to take care of it in the future ?? THANKS !!

10:19 Fritz Henderson:
good question and understand natural concern. the answer is that it is premature today to speculate or get into this matter. IF and when we would need to file for chapter 11, we would identify at that time how we would handle pension funds more generally, including hourly and salaried.

10:19 Comment From Dr. Ron McGarry: I know that shuttering popular brands is difficult, but as a former Pontiac owner and now with a Corvette, I am concerned about the whole Corvette/Bowling Green operation. Destroy this and it will be bad fro GM on a whole. Any hints on plans for Corvette?


10:20 Fritz Henderson:
corvette remains a force within our product lineup. it is a superb high performance car, the equal or better car relative to cars that sell for 3x the price. the corvette pays the rent in terms of profitability and cash flow and is one of our strongest (if not our strongest) nameplates in the entire gm lineup. we intend to keep this car fresh and in a segment leading position. I also own one and love it.

10:21 Comment From BP: Is there a list of dealers who will be closed? Where can it be found?

10:21 Fritz Henderson:
we plan to communicate later this week to dealers. such a list is not available today.

10:21 Comment From Geoff Livingston: Can you tell us what's next for your green efforts? Certainly the Saturn line and Volt initiatives have been well discussed. What's next?

10:23 Fritz Henderson:
the volt needs to be launched by year end 2010, which means we still have work in front of us. we have a separate team looking at gen II erev technologies while looking at other potential vehicle applications. alongside the volt we have a host of other technology initiatives underway, from second gen biofuels, to hybrids, etc.

10:24 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.

10:25 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.

10:26 Comment From Tom Ludwick: Is GM really considering holding on to the Saab brand and allowing it to go into bankruptcy because the new 9-5 makes the brand worth keeping?

10:28 Fritz Henderson:
re saab, we have 2 superb saabs (new 9-5 and 9-4x) in development, but we simply do not have the resources to continue as is. as such, saab entered into reorganization earlier this year and is looking at potential investors. as part of this, gm is open to supporting a buyer by finishing development of these cars, but I do not anticipate that we will be the owner of saab post reorg.

10:28 Comment From Al Brown: Sir What update can you give us on the viability plan that we are supposed to give to the Govt. by the end of the month?

10:29 Fritz Henderson:
we would plan to update by no later than the end of the month.

10:29 Comment From JIm Mbongo: Do you really think that selling Opel is for GM a good thing to do?

10:30 Fritz Henderson:
important to understand facts on the question of opel. given the business challenges in europe, our business needs funding. at the same time, we have a commitment to the US Treasury and to the US taxpayer that funding received in the US will not be used to support overseas ops. as such, we need to identify sources of funds for our european business.

10:31 Comment From Thomas Ho: I have a first-generation Prius that needs to be replaced. WHY should I "wait" for the Volt?

10:32 Fritz Henderson:
I would love to take you out of your prius! so why wait for the volt? the car will be beautiful, a great driving experience, and if you commute less than 40 miles per day, the car should deliver a totally electric experience to the owner without using any gas at all.

10:32 Comment From David George: Why was GMC deemed to be one of the core brands when there seems to be so little difference between Chevy and GMC products?

10:33 Fritz Henderson:
easy. very strong brand. very loyal customer base. very profitable. any further questions?

10:33 Comment From Aaron: Did all of the technology that was used to produce the EV1 get thrown away like all of the car were.

10:34 Fritz Henderson:
no. we retained people and the learnings from the car. technologies like regen braking, aero and power electronics are critical to hybrids, volt and many other such cars going forward.

10:35 Comment From MPG: will "deeper and faster" involve additional US salaried employment level cuts, and if so, of what approximate magnitude?

10:37 Fritz Henderson:
we are deeply appreciative of the support we have received from many fronts, most particularly our people. I understand the concern and quite bluntly fears that people have today. we will need to take further measures in this area to lean out our management structure and simplify the work of our salaried work force, which will mean we need further moves. I anticipate communicating our plans in this regard by the end of this month.

10:37 Comment From Lou Bilancio: I'm a huge fan of the new Equinox. I am also spreading the word to my friends about it. When will they begin to arrive at dealers? Thank you!

10:39 Fritz Henderson:
fyi, I recently drove one, an ltz with 4cyl/6sp automatic, 32mpg on the highway. my family owned a first gen equinox and we loved it. this gen II equinox is a superb successor to this vehicle and I anticipate it will be on many shopping lists. coming to a chevrolet dealer in july-august timeframe.

10:39 Comment From Gary: Oops. My last question was sent out prematurely darn tiny netbook keyboard!). There is a lot of negativity in the media. First of all, you'd think that everybody has Swine Flu. There is a lot of anti-domestic sentiment, especially in larger cities where people are "image conscious" and like imports. How goes GM propose to counteract this?

10:40 Fritz Henderson:
images and brands move step by step, sometimes bigger steps, but take time. it begins and ends with great products supporting strong brands, with leadership listening to dealers and customers every single day.

10:41 Comment From Michael: When can we expect to see the next round of plant closings announced?

10:42 Fritz Henderson:
we are in dialogue with the uaw and do not expect to notify individual plants until we conclude such discussions.

10:42 Comment From brian watters: what do you drive presently and what is your favorite gm vehicle?

10:43 Fritz Henderson:
the henderson family fleet. my wife drives a cool 9-3 saab convertible. my baby is my corvette, I am also driving a camaro, and my daughter drives a malibu.

10:44 Comment From dc: Where do you see GM in 10 years?

10:47 Fritz Henderson:
final question and a good one. I have worked for gm 25 years, in many locations around the world. while proud of what we have accomplished in many respects, nobody (least of all me) can be happy with the current state of affairs. a really difficult situation that is tough on virtually all people that love the company.

so, my vision. a company known for superb cars and trucks. beautiful designs, segment leading fuel economy, and delighted customers. if we accomplish this, I am 100% confident that we will succeed as a business!

10:48 Fritz Henderson:
thanks for your time today. happy to do this in the future. will answer many of the questions we were not able to get to (I can only type at 50 words per minute) via fastlane. thanks for logging in.

 

[73shark]

Not that I really care one way or the other, but it surprises me that anyone would make such a blatant blanket statement with (likely) no concrete studies done to support that assertion.

No surprise intended. Actually heard that on CNN where they listed the office holders and their primary cars. It was approximately (don't remember exact figures) 7 of 10 that they documented.

While I agree that the Obama crowd is Democrats, the previous administration probably had similar stats re: cars. Just a guess tho.

Who is John Galt?

 

[Norseman]

Dem's

I really don't think Obama drives anymore.

 

[Back9]

Hope he's right. If Obama takes over, Vette production might be history.

 

[Cruzen]

GM needs to focus it's engineering and manufacturing resources to development of vehicles for the future.

No car company can sell enough niche "retro" styled vehicles to be profitable because its simply too small a market.

Except for the PT Cruiser and the Mustang.

The trip is short,
enjoy the ride,
Denny