WSJ: Online Video Interview with Bob Lutz

[mgescuro]

You will need a paid subscription to the Wall Street Journal Online in order to view the video.

http://online.wsj.com/public/page/0,...=ARTICLE_VIDEO

To paraphrase the video:

In response to GM's situtation... how it compares to Chrysler:
GM's situation is by far the least scary. GM Europe is gaining. GM Daewoo is on a positive path. GM Latin America is gaining in profitablity. GM AP is profitable. THough GM's largest components is failing, there is still a lot of support from its other components.

In response to GM's revised $850M shortfall in their guidance for the quarter:
Expected a Spring surge that would suck out the inventory from teh dealerships. But the industry was lower than expected and the dealers didn't order that many cars. March sales are expected to be flat as compared to last year, which is a good thing, as March last year was very good. Best ever months for G6 and Cobalt are expected, even without a coupe option with minimal incentives.

In response to GM's healthcare problem:
Can't unilaterally open the contract. UAW has "proven to be excellent partners in everything else." He doesn't want to touch the topic in fron of the media, as it's the last place you want to discuss. He is leaving it to Cowger to work with the UAW "intensely" to see what can be done.

[Ming]

"We have a momentary earnings problem in the US, GM Daewoo is on a positive path, Asia Pacific is positive, our new cars are selling well, etc. etc."

Very upbeat.

Health care: "I'm not gonna touch that one,"

[dav305z]

He didn't mention LaCrosse. I wonder if its not having its bezt month ever. That would be very bad, as new models certainly should not see any declines.
Actually, I'm a little split on howe well I actually want the LaCrosse to do. I like GM, and actually think its a very competent product, so I want to see it sell. On the other hand, a little voice in the back of my head tells me that if new Pontiacs perform better than new Buicks in the market place, the arrowhead will avoid the chopping block. I guess the best bet is to hope that all the new models do well, and that GM can finally gain to market share for a change.