2005-04-04

Can't Wait to see how Fastlane Handles (or doesn't handle) This!


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Hmmmm ... things are mighty quiet over at Fastlane so far this month.

You remember, Fastlane is the blog of Bob Lutz, the Vice Chair of GM-North America ... or actually I should say FORMER Vice Chair of GM-North America. It seems that GM CEO Rick Wagoner has taken the keys away from Lutz and former North America President, Gary Cowger and will drive himself!

The official spin: Facing some challenges in NA, need to "shorten the lines of communication and decision-making." Lutz and Cowger will move over to GM-Global. Why do I think this isn't a promotion?

Meanwhile, over at Fastlane, not a word since Lutz's March 31 post claiming that GM's financial results were taken out of context and didn't warrant the ensuing panic. To be fair, his main point was that GM would not be shutting down one of its brands.

However, GM itself issued a warning last month that this year's earnings may come in as much as 80% below expected. Now I'm just a CPA, but that sounds pretty bad, whatever context you put it in. When the CEO of GM pushes you out of the way so he can take over day-to-day operations ... well, there's just no good way to spin that.

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