GM opts to keep the same execs in charge

Article Abstract:

General Motors Corp has named G Richard Wagoner as its new chief executive officer effective June 1, 2000. Wagoner will replace Jack Smith, who will remain as the automaker's chairman of the board of directors. Wagoner, 47, will be the youngest to head the company since Alfred Sloan who was the CEO in the 1930s. The newly designated CEO said he will focus on new product introductions, tapping the electronic commerce and expanding GM's global presence.

Executive changes & profiles

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GM to revamp its minority-dealer program

Article Abstract:

General Motors (GM) will overhaul its minority dealer development program by acting on a total of 215 recommendations that resulted from a review of current and former minority dealers. According to GM's VP of public policy and diversity issues, the company will act on the recommendations in the most judicious manner. The recommendations include proposals to allow dealers to hire their own people to evaluate the success of the dealership. Another proposal has to do with efforts to improve the selection and preparation of minority dealers.

Comment:

Will overhaul its minority dealer development program by acting on a total of 215 recommendations

General services

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Chrysler earns record $1B in second quarter

Article Abstract:

Chrysler posted record net earnings of $1.0 billion, or $1.51 per share, in the second quarter of 1998. The automaker also reported a record with first-half 1998 earnings of $2.1 billion or $3.18 per share. The company was able to achieve the best second quarter in its 73-year history due to the popularity of its light trucks, which accounted for about 70% of Chrysler's sales in the first six months of 1998. The record performance was achieved by Chrysler despite unusually high sales incentives during the second quarter, which stood at an average of $1,485 per vehicle compared with $980 for the same period in 1997.

Comment:

Posts record net earnings of $1.0 bil, or $1.51 per share, in the 2nd quarter of 1998

Sales, profits & dividends, Chrysler Corp.

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