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Posts Tagged ‘GM’s Mary Barra’

General Motors Eyes Cuts in Brazil

Union calls need for cuts "absurd."

by Joseph Szczesny on Jan.22, 2019

GM warned that after three years of heavy losses, its Brazilian operations will need to make some cuts.

General Motors is warning that it will need to restructure its operations in Brazil after three years of heavy financial losses.

In a message posted at Brazilian plants, GM’s top executive in Brazil and Argentina, Carlos Zarlenga, said after running up a heavy loss during the past three years the operation had reached “a critical moment that will require sacrifices from everyone,” according to Reuters.

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GM Chairman Mary Barra said last week GM, like other automakers, is facing challenges in South America. “We are not going to keep deploying capital to lose money,” she said. (more…)

GM Expects Bigger Profits, More Transformation in 2019

Company wants to make workforce changes during strong labor market.

by Joseph Szczesny on Jan.11, 2019

GM CEO Mary Barra is leading the transformation of the company's manufacturing footprint.

General Motors Co. expects earnings to grow in 2019 as it restructures, picks up the pace of moving towards what Chairman Mary Barra described as an “all-electric” future, and maintains its market share in China.

“We will continue to strengthen our core business and invest in the technologies that will transform the future of mobility. Managing both well is critical to position General Motors for success for generations to come,” Barra said, adding that it was better to tackle this restructuring during a strong labor market.

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“We are committed to driving significant shareholder value over the long term as we drive the transformation,” she added. (more…)

GM Will Drop at Least Six Passenger Cars in North American Shake-Up

But new electrified models -- and possibly more SUVs – on the way.

by Paul A. Eisenstein on Nov.27, 2018

The Buick LaCrosse is one of six models getting axed as GM's brands shift away from sedans and toward sport-utility vehicles.

At least six General Motors passenger car models will be dropped by the end of next year, part of a broad corporate realignment that will see the automaker also shut down three North American assembly plants, idling an estimated 5,600 workers.

The Monday morning announcement reflects the ongoing shift from sedans and coupes to SUVs and CUVs in the U.S. market, though GM CEO Mary Barra also noted that the automaker wants to put more emphasis on the development of electrified and autonomous vehicles going forward.

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“We recognize the need to stay in front of changing market conditions and customer preferences to position our company for long-term success,” Barra said Monday. (more…)

GM’s Barra Takes Seat on Disney Board

CEO adds to list of board seats.

by Joseph Szczesny on Aug.28, 2017

GM Chairman and CEO Mary Barra is joining the board of directors at The Walt Disney Co.

General Motors Chairman and Chief Executive Officer Mary Barra has agreed to serve as a member of the board of directors of the Walt Disney Co.

“Beyond being an incredibly respected leader of a major U.S. company, Mary is recognized as an agent of change with a relentless focus on quality, safety and, most importantly, consumers,” said Robert A. Iger, chairman and chief executive officer, The Walt Disney Co.

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“Her ability to adapt to a changing technological and consumer-focused landscape makes her uniquely suited for the Disney Board.” (more…)

Barra Squelches Speculation Over Trump Administration Post

GM Chairman says she’s “150% committed” to automaker.

by Joseph Szczesny on Apr.28, 2017

GM CEO Mary Barra, who serves on an industry forum advising Trump, said she is "150% committed" to GM.

General Motors Chief Executive Officer Mary Barra flatly rejected the idea that she might be preparing to accept a job in the administration of President Donald Trump.

Barra said during a conference call with analysts and journalists following the release of GM’s first quarter financial that she was “150 % committed” to her job at the auto giant where she has worked for the past 37 years, including the past three as CEO.

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“I am 150% committed to this company,” she said, adding that personally she finds it to be an incredibly exciting time to be working at GM during a period when the auto industry is on the verge of a technological revolution. (more…)

GM May Trim Other Operations, Barra Says

Barra notes two other groups not meeting GM profitability targets.

by Joseph Szczesny on Mar.07, 2017

GM Chairman and CEO Mary Barra suggested that the company may not be done shedding unprofitable units.

General Motors’ top executive has left the door open to the possibility of selling off other pieces of its international operations.

Mary Barra, GM’s chairman and chief executive officer, did not offer any specifics or confirm any discussions were underway.

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However, in separate conference calls with reporters and analysts that followed the official announcement of GM’s plans to sell Opel/Vauxhall to the PSA Group for $2.5 billion, she indicated she would not rule out such a development. (more…)

GM Discussing Fate of Canadian Plant

CEO Barra talks to union about Oshawa, examines plant plans.

by Joseph Szczesny on Jun.10, 2016

GM's plant in Oshawa, Ontario, is slated to close in 2017. However, CEO Mary Barra is talking with the union about it.

General Motors is open to discussing the fate of the company’s assembly plant in Oshawa, Ontario, with the Canadian Auto Workers during the upcoming contract negotiations this summer.

Even as it pours more investment in GM plants in Mexico, the company’s current product plans call for leaving the Oshawa plant vacant by the end of 2017.

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However, Mary Barra, GM chairman and chief executive, told reporters in Detroit prior to the company’s annual meeting that GM had what she described as “constructive” discussion with Unifor, the union that represents Canadian autoworkers employed by GM. (more…)

GM Reports $9.7 Billion Profit for 2015

Sales in North America and China lead maker to profitability.

by Joseph Szczesny on Feb.03, 2016

GM Chairman and CEO Mary Barra said the company was positioned for long-term success.

Despite continuing losses in Europe and South America, General Motors posted a record profit of $9.7 billion, or $5.91 per share, for 2015 with much of that coming on a $6.3 billion, or $3.92 per share, fourth quarter.

Earnings per share adjusted for special items during the fourth quarter was $1.39, up 17% compared to $1.19 per share for the fourth quarter of 2014. GM had earned  $1.1 billion, or 66 cents per share during the fourth quarter of 2014.

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“It was a strong year on many fronts, capped with record sales and earnings, and a substantial return of capital to our shareholders,” said Chairman and CEO Mary Barra. (more…)

General Motors Poised for Profitability

Executives claim maker ready to earn big money.

by Joseph Szczesny on Oct.02, 2015

GM executives Mary Barra and Mark Reuss announced the automaker is poised for double-digit earnings growth during the next several years.

General Motors is poised to post hefty profits over the next several years, GM executives said as they outlined their future plans during the company’s annual Global Business Conference at the company’s Milford Proving Ground

“We expect double-digit earnings per share growth for the next number of years,” GM Chief Financial Officer Chuck Stevens said during his afternoon presentation.

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“Let me repeat that,” he added for emphasis. (more…)

UAW Makes Note of GM’s Improved Profitability

Union looking for its share of the money during talks.

by Joseph Szczesny on Jul.24, 2015

Everyone was all smiles at the opening of talks, UAW's Cindy Estrada noted GM's better-than-expected Q2 profits: a reminder the union is looking for raises.

Ever since General Motors went bankrupt in 2009, GM and the United Auto Workers have made a concerted effort to make nice.

The company and the union have put aside the years of antagonistic relations and built a new relationship. GM Chief Executive Mary Barra, whose father was a union member for years, has clearly stated that she values good relations with the UAW.

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Cathy Clegg, GM’s vice president of labor relations, has credited the union with helping to boost the quality of GM’s vehicles and the company has made several announcements during the winter and spring that highlighted the company’s commitment to investing in American jobs and American workers. (more…)