As General Motors Co. Vice Chairman Steve Girsky took a new assignment last year to stem more than a decade of losses in Europe, a colleague gave him a Latin phrase that translates as “I shall either find a way or make one.”
The U.S. government should “sell every last share it owns” of General Motors Co. or else the company will be seen as a failure, former Chief Executive Officer Ed Whitacre said in a Wall Street Journal op-ed commentary.
On a Sunday afternoon in January, Russian billionaire Oleg Deripaska gets ready to leave his sprawling mansion in Zhukovka, a wealthy suburb of Moscow where his neighbors include President Dmitry Medvedev and Prime Minister Vladimir Putin . His children, Pyotr, 9, and Marusia, 7, burst in the door, greet their father and run happily down the long hallway. His wife, Polina, who is publisher of the Russian edition of the magazine Hello!, prepares to welcome guests for a party celebrating the Russian Orthodox New Year, Bloomberg Markets magazine reports in its April issue.
By David Welch April 29 (Bloomberg BusinessWeek) -- The 15 General Motors dealers who flew to Detroit last September for a dinner with GM management were not an easily rattled bunch. They had endured the worst auto sales slide in 25 years, as well as the bankruptcy of the iconic carmaker on which they had built their businesses. Only three months had passed since GM accepted a $50 billion federal bailout, announcing the retirement of four of its eight brands and the shutting down of 1,900 dealers—a third of its domestic retail network. These dealers were the survivors, some of the more prosperous people in their towns, and they wanted a little reassurance. CEO Fritz Henderson gathered the group in a private conference room at the Westin Detroit Metro Airport and tried to demonstrate that he had a plan, according to an executive in the room who asked not to be named because he was not authorized to describe the dinner. Henderson announced that GM was going on the
Steve Miller , who calls himself “The Turnaround Kid” after a career spent helping hobbled companies survive, has another rescue mission as chairman of bailed-out insurer American International Group Inc.
General Motors Co. Chief Executive Officer Ed Whitacre , who led the largest U.S. automaker from bankruptcy to two straight profitable quarters, will step down as CEO on Sept. 1 and be replaced by director Dan Akerson .