Erskine Bowles, John Bryan, Armando Codina, Erroll Davis, George Fisher, Mark Guildenstern, Karen Katen, Kent Kresa, Philip Laskawy, Kathryn V. Marinello, Eckhard Pfeiffer, and Rick Wagoner who also serves as chairman of the board.
GM mission vision:
GM is a multinational company. It is dedicated to provide products and services of such quality that customers will receive superior value while employees and business partners will share in company’s success and stock holders will receive a sustained superior return on their investment. GM’s vision is to be the world leader in transportation products and related services. They try to earn their customer’s trust through improvement, teamwork and innovation of GM people.
CURRENT FINANCIAL POSITION:
On October 10, 2008, GM considered exchanging its remaining 49% stake in GMAC to Cerberus Capital Management for Chrysler LLC, potentially merging two of Detroit's "Big Three" automakers. Acquisition talks involving Chrysler were cancelled, however, before November 7, 2008, as part of a broader response to the increasing urgency of GM's own cash flow problems. That was a result of Chrysler's senior bank debt currently trading at less than 50 cents on the dollar and because Chrysler's other owner – Daimler, formerly DaimlerChrysler – recently revalued its 19.9% Chrysler stake down to zero, which may or may not reflect its value in a potential sale.
On December 12, 2008, General Motors stated that it was nearly out of cash, and may not survive past 2009. The U.S. Senate voted and strongly opposed any source of government assistance through a bailout bridge loan (originally worth $14 billion in emergency aid) which was aimed toward helping the struggling Big Three automakers financially, despite strong support from President George W. Bush and President-elect Barrack Osama, along with some mild support from both parties (Democratic and Republican).
Prior to the U.S. Senate's...