Z284ever

Rick Wagoner regarding the Camaro on 60 Minutes tonight.

JB22

damn i missed good TV!!

what was the interview about? how did the camaro come up?

Z284ever

It was a story about GM's current situation.

High points were Wagoner being interviewed in Detroit next to the Camaro Concept and Lutz giving sneak peeks of future Caddy's.

Kris93/95Z28

Let's hope there is a GM to build the Camaro in a few years...

sselie

Yeah, I saw the show and was impressed with the presentation. Basically, it gave a reader's digest version of GM's current financial situation, and emphasized the albatross around GM's neck with respect to pensions and medical benefits... that we're all aware of... but perhaps John Q. Public is not aware of.
Numbers were thrown out with respect to how much was added on to the price of each GM vehicle going out the door because of this situation and sufficeth to say, (I forget the exact $ figure, but it was in the range of 2Gs+). If I was hearing this for the first time, I'd be thinking to myself, "Holy Crap!!"... is this what GM has to deal with to sell cars in this day and age?!?
In the presentation as well, was a recognition that in order to extricate themselves from this situation, GM has to sell a good product... and lots of it. "Product, product, product!" was the quote from Lutz. There was talk about future models in the pipeline (with a tantalizing removal of the tarp from what was probably the new CTS) and a nice 'spiel on the Camaro and its intro at NAIAS... hence the quote in the title.
Bottom line is that AFAIC, this segment went a long way in explaining to the general public what the plight of GM is, at this particular point in time, in a fashion that is understandable... and if anybody who has 1/2 a brain in their head is able to take this information to the next level, then the obvious conclusion is that "buying American" will bear many benefits in the future for individuals and the general economy !
Oh yeah... and the issue of quality and reliability with respect to American-built cars was also addressed and the idea that "the quality of American cars is equal to or better than foreign cars is a reality today... the problem is getting the public to recognize this fact." was expressed loud and clear.
... and a really great job on the Camaro intro... there are still a whole whack of people out there who are totally in the dark about this car... and I think this segment just opened up a whole lotta eyes! Great free advertising!!

Best regardSS,

Elie

Fbodfather

Overall, I was very pleased with the 60 minutes segment. I think it made some very good points.

However, there's simply no way you can explain in 15 minutes what the problems are facing not only the automobile industry, but ANY legacy company. Same with articles in magazines. Frankly, it would take a mini-series alone to explain the issues at GM.

But......I sure hope Mr and Mrs America were listening.

I wonder how many people really listened to what Rick Wagoner said about bankruptcy..........we DON'T want to go there.......it's an easy out, but it's simply WRONG.

A certain 'BM' can take all the shots he wants at Rick......but I think the guy's a very very decent human being. (I can't say that about everyone...)

TallicA32

Would you be able to specify if that was indeed the CTS or some future coupe concept or something?

JB'z 94

I saw the segment... good tv... And I usually don't watch 60 minutes, got lucky

Big Als Z

That IS the CTS.

fredmr39

I got lucky and caught it as well...however, I think the quote was more similar to '...if we didn't built it, it might suggest [that?] we're brain dead.' -which is different, but very much the same as what you said

ADV1

I just thought it was great how the Camaro was the background for the whole interview...

hyperv6

In this day and age you only get 15 min to explain anything before you lose the public's attention on matters like this. Most, unless they are directly involved they just don't car.

They did good and showed GM is not the evil incompitdent empire some try to make it out to be.

Let's face it at least they did not strat a toy rocket on a Silverado gas tank and try to blow something up for once.

Chris 96 WS6

One thing I thought was a big red herring was when the narrator said the health care costs for hourly employees are a disadavntage because the import auto makers all have government run/funded socialized medicine.

Well I guess that's true, but its not an issue of competitiveness with import brands because 95% of import branded cars are built in the US. So its not an issue of govt insurance versus private insurance...after all if GM didn't have to buy insurance for its employees it would have its taxes jacked to the moon to pay for the govt to do it.

The issue with health care is simply that that plan is way too generous when compared with the plans offered by import auto makers with US operations. I have a friend who just started at the new Nissan HQ here and he pays less out of his check per month than I do working at a University for his plan...so its not like the import companies are screwing their people. They get good plans, its just like the guy said on 60 Minutes, its a silver plan, not gold.

And the fact they have 1.4m people on the plan hurts GM too. I don't think its the cost per employee so much as the total legacy cost of insuring 1.4m employees, pensioners, and dependents.

R377

It's both, to be sure. A lot of GM's retirees are in their last years, where the medical costs are the highest. Many of these folks lived longer than initially expected, thanks in large part to the healthcare GM provided them. But it's meant that GM has had to pay to care for them longer than initially budgeted, at much higher costs than initially budgeted. The good news (for GM, anyway) is in about five years' time the number of retirees will begin to slowly decline.

Fenster

As Chris 96 WS6 stated, The forgeign companies aren't just screwing people on healthcare. I am the "friend" who got hired for Nissan Corporate, and my benefits here are WAY better than I had workin for a HOSPITAL. Thats right...

As for the pensions... Thats a whole other story. I have a great uncle who has been drawing pension from GM for 30 years. Thats right... 30 years. He worked down at Doraville forever. Retired earlier than the norm, and has been set ever since. He doesn't need it. But he keeps getting... Things like that can kill a major corporation...

Too bad I missed the show. Wish I could have seen it. Seems like it was pretty informative for the time frame of it.