Jim Wangers, a GM insider, released a statement today saying that GM's top execs are to blame for the auto industry fall. He says some of GM's top executives should have been indicted as white-collar criminals and that they destroyed the auto industry through poor management. Wangers says the company, instead of hiring valuable people, it only seek more profit.
The most important mistakes made by GM's management, in Wangers view, is the merger with Fiat, the destruction of the Chevrolet, Pontiac, Oldsmobile and Buick brands by homogenization and the fact that the company did not purge some of the brands.
Jim Wangers is known as the "Godfather of the GTO" and "the man who invented Woodward Avenue,".
Jim Wangers Press Release:
As General Motors begins bankruptcy proceedings, Jim Wangers, a GM insider, is voicing his disapproval of General Motors' executive operations and offers his thoughts on the current state of the auto industry. Wangers began working with GM in the early '50s in the advertising and marketing departments with Chevrolet and Pontiac. He is referred to as the "Godfather of the GTO" and "the man who invented Woodward Avenue," Detroit's legendary cruisin' street.
With almost 60 years experience in the auto business, Wangers discusses the demise of GM and how the American icon could attempt to rebuild itself. Wangers believes:
Many GM executives should have been indicted as white-collar criminals. They destroyed the auto industry in Detroit and across America by mismanaging the company. Rather than hiring good people with automotive skills, they only saw numbers and dollar signs. Their arrogance and misguided competence put thousands of Americans out of jobs. Such missteps include Rick Wagoner's attempted merger with Italy's Fiat, which cost
the company $4 billion to erase after complete failure.
Rather than keeping great brands like Chevrolet, Pontiac, Oldsmobile and Buick strongly imaged, GM homogenized the brands, resulting in bland offerings that confused the American buyer.
GM should now purge every brand except Chevy, Buick, Cadillac and GMC Truck. These brands already have a strong dealer network, perhaps the strongest in the industry. These dealerships will be GM's best asset coming out of bankruptcy.
ABOUT JIM WANGERS
Jim Wangers has worked in the automotive industry for almost 60 years. A former General Motors associate, Wangers worked extensively in marketing, public relations and advertising with Chevrolet and Pontiac beginning in the 1950s. His love and knowledge of cars and his understanding of the market helped him become an automotive industry expert. His contributions to General Motors helped the company become the largest automaker in the world as it developed cars that became American icons. His brand image management was a driving force that helped the GM cars reach the epitome of sales in the late 1960s. Currently, Wangers is active in the car enthusiast community and consults for a variety
of automotive companies. He is the author of the best-selling book Glory Days, an authoritative book on Pontiac marketing, and Pontiac PIZAZZ, which features Wangers' personal selection of what he thinks are the most significant Pontiacs of all time.
