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GM Eyes Rebound According To Rick Wagoner

by Darren

You could hardly blame GM Ceo Rick Wagoner for being downbeat these days, what with all the bad economic news and all. Surprisingly, Wagoner isn’t feeling blue. Instead he says GM has seen the worst of it and he expects a rebound.

Wagoner spoke with USA Today. Despite his embattled status as CEO of GM during the worst time in their 200 year history, he expects an imminent improvement.

Wagoner looks at the sunny side of things

“We just need to get the storm over, and we’re about ready to go,” he said.

One of the biggest problems facing General Motors in the past few years is car buyers aren’t interested in buying a car from a failing manufacturer. After all, what good is a warranty if the company isn’t around to honor it? Add in the fact that many consumers are having a tougher time getting credit than at any point in the past, and you can understand a bit why the company has had such poor sales.

With share prices at $2.74 a share, there are plenty of people who doubt GM’s eventual success. Even Wagoner admits it’s tough being him these days.

He described a recent run in with a customer at the Detroit airport.

“Normally, when people chase me around and say, ‘Are you Rick Wagoner?’ I say, ‘No,’ and run the other way,” Wagoner said. “But I had to stick around and get my baggage.”

Luckily for him, the lady confronting him was a happy customer who recently bought a GMAC Arcadia SUV and really loved it.

“It was terrific,” Wagoner says. “Having been through what we’ve been through in the last year, I think I’d like to be here when things get turned around.”

In order to continue on the sunny side of the street, GM will need to see more credit flowing through the system and they’ll have to shake the image that they’re literally knocking on death’s door. If customers believe the company will be around, and they’re building good cars, they stand a chance.