Here we are once again standing agape watching yet another executive take the helm as Gerneal Motors’ CEO.
Daniel Akerson will take over from Ed Whitacre on September 1st. He has been a member of GM’s board since June 2009, and actively involved in decision making. He has a track record of leadership, formerly serving as CEO of XO Communications and Nextel. He is said to have a hard-driven no-nonsense management style and an extensive financial background and business acumen. Like Whitacre, he has no experience in the auto industry. He was placed on GM’s board by the US government, after it took 61% ownership post-bankruptcy
Akerson is said to be intolerant of those who don’t carry their weight and will continue to stir and shake-up the already dizzy GM management.
“He’s a no B.S. kind of guy, just like Whitacre,” Steven Rattner, former head of the White House auto task force told the Wall Street Journal. “His whole operating style is the antithesis of the old GM. It is hard for me to imagine a better choice.” Rattner supported Akerson’s appointment to the GM board last year.
Akerson is currently a managing director of the private equity firm the Carlyle Group based in Washington DC, where he oversees $60 billion in assets. His financial expertise is considered the best reason for him taking over GM in time for its IPO; his experience is likely to comfort investors.
Akerson has also played a central role in some of GM’s decisions in his time on the board. One of those was to remove Fritz Henderson last year.
The other, most revelant to us, is the fact that he has advocated for GM to expanded development and production of fuel efficient vehicles. In particular he was instrumental in the recent decision for GM to increase 2012 Volt production volume from 30,000 to 45,000 vehicles.
Akerson is a former naval officer who graduated from the U.S. Naval Academy and served on the destroyer U.S.S. DuPont from 1970 to 1975.
According to William Conway, co-founder of the Carlyle group, Akerson is motivated to help serve the nation’s interests by getting GM back to good health and back in the hands of shareholders.
“He has a sense of duty,” said Conway.
Source (Wall Street Journal)
This entry was posted on Friday, August 13th, 2010 at 6:22 am and is filed under Financial. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.
+29
Aug 13th, 2010 (6:35 am)From the article:
“He’s a no B.S. kind of guy, just like Whitacre,” Steven Rattner, former head of the White House auto task force told the Wall Street Journal. “His whole operating style is the antithesis of the old GM. It is hard for me to imagine a better choice.” Rattner supported Akerson’s appointment to the GM board last year.
If he can prevent GM management from making same stupid decisions they have been making since the early 1980′s, all the power to him. I wish him success in the turnaround.
Thank you, Mr. Akerson, for your years of service in the U.S. Navy.
+8
Aug 13th, 2010 (6:45 am)Excellent, maybe he will bring back another ex-military car guy – Lutz, who pushed for the Volt’s development..
+12
Aug 13th, 2010 (6:47 am)A sense of duty is all I can ask for, for G.M. and for America.
+1
Aug 13th, 2010 (6:47 am)Hopefully no more leasing shenanigans so that the car is leased at an artificial low price and the in-house financial arm ends up holding the bag at the end of the lease.. and please give cars destined for car rental companies a special designation.. very often these are very low specced cars that give renters a poor impression of the standard car you can buy at a dealer.
+6
Aug 13th, 2010 (6:48 am)Up to 45.000 for 2012! Okay, he’s a keeper then!!
GO EV!!!!
+6
Aug 13th, 2010 (6:50 am)“According to William Conway, co-founder of the Carlyle group, Akerson is motivated to help serve the nation’s interests by getting GM back to good health and back in the hands of shareholders.
“He has a sense of duty,” said Conway.”
This bodes well for a prosperous GM and a good IPO.
+4
Aug 13th, 2010 (6:50 am)I got my first call from Chevrolet (not the dealer) last night thanking me for ordering a Volt and informing me that I will be getting another call when they go into production in November, At that time I will be able to track it’s progress. I mentioned the Myvolt.com site and he said they had been talking about it that morning but no other information was disclosed. Anybody else get any calls???
+1
Aug 13th, 2010 (6:52 am)“Akerson has also played a central role in some of GM’s decisions in his time on the board. ”
This is the whole problem with a government mandated board. It’s management by committee which seldom works out.
In a public company, the board does some direction and kills some bad decisions, but, it’s the CEO that sells the company and supplies the vision.
I am hopeful that this guy can step up and be a true CEO, but, I am doubtful.
+2
Aug 13th, 2010 (6:54 am)I want Mr Daniel Akerson to have lots of success, although I wish GM would have picked a younger person. I believe a person around the age of 45 will be more ambitious, enthusiastic, creative and energetic……like with the Google Corporation.
+5
Aug 13th, 2010 (6:59 am)Impersonations should not be allowed!
+2
Aug 13th, 2010 (7:04 am)Eric E. Schmidt born April 27, 1955.
+12
Aug 13th, 2010 (7:12 am)Mr. Akerson, if you really want to shake things up, how about a Voltec option in every vehicle GM offers.
+7
Aug 13th, 2010 (7:22 am)As I have been saying for years now. All vehicles should be this way.
+1 to you.
-24
Aug 13th, 2010 (7:30 am)(click to show comment)
-9
Aug 13th, 2010 (7:33 am)“Excellent”? —-
Maybe you missed the whole part about Akerson “being hand-picked by the government to sit on GM’s board”…The current administration in D.C. got there by landslide partly because of numerous and loud campaign promises to hold Big Oil accountable – and reduce our crude addiction – and to bring our boys home. While some steps have been taken, others glaringly have been smoothed over, leaving many of the Bush gifts to Big Oil in place for now and the foreseeable future.
From the book The Tyranny Of Oil, by Antonia Juhasz ( highly recommended ) – ” Obama inherited a war for oil in Iraq and one heavily influenced by oil in Afghanistan. His pledge to remove all U.S. troops from Iraq by the end of 2011 is deeply jeopardized by his dangerous adherence to a core Bush administration and oil industry goal: passage of the Iraq Oil Law.” In a nutshell the State Department and oil companies, many of whom helped write the law continue to play hardball with the Iraqis who have tried to sign oil contracts that do not give the companies as much as they might achieve under the law. Also from the book: …”The central climate initiative of the new administration and Congress is a cap-and-trade system that is projected to create the largest derivatives market in the world. The beneficiaries are both the polluters and the traders. including Goldman Sachs and Morgan Stanley, the two investment firms that not only survived but thrived during the economic crash of late 2008-due in no small part to the fact that they have begun to morph into oil companies, owning oil fields, pipelines, refineries, and the primary exchange on which crude oil futures are traded, the InterContinental Exchange ( ICE )”. <– appropriately named, eh Volt fans?
GM's new CEO was placed there by the government – as per the article. He replaced a man who was on Exxon/Mobile's board of directors ( the world's largest corporation ). To suggest in today's article that Akerson should have our support because he was responsible for 45,000 Volts in 7 states rather than the oft GM quoted 50,000?!!! Are we really that gullible, people?
Lyle, Netlook really needs a spell-checker on this page, if they don’t already have one. I appreciate the daily articles greatly, but the look of professionalism is needed also if the site aspires to deem respect. Again, I’m sure you’re rushed and a consummate professional at what you do. Running this site requires sacrifice from yourself and your family – as we know. Just a note that there’s a lot of errors today – usually I make a couple – but today’s article is riddled with them.
Thanks Lyle for the hard work on the site. But I respectfully disagree with where you’re goin’ with the positive vibe on Akerson. As I pointed out yesterday, Carlyle Group and Riverbend Holdings are deeply invested in oil, very deeply – and in 2009 his Carlyle group paid $20 million to New York State to settle-it’s partner Riverbend paid $30 million, promising to clean up it’s act and practices regarding fraud – in a suit brought on by New York’s Atty. General – Mr. Cuomo. Akerson is adept at alot of things – one of which was covering an alleged $534 million in corruption with a $20 million payoff. Does that make him a great business mind or cunning and connected? He’s able to buy or bribe his employers out of trouble. Just think what that can do for GM moving forward dealing with EPA and fleetwide mileage government mandates.
Akerson will be the latest GM flash-in-the-pan. He won’t last. He’ll be in as long as it takes to weasel GM out of renewable technology – take the heat – and jump out of the plane with a huge “golden parachute”. Statik was here yesterday also predicting Akerson will be a stopgap and won’t last.
Let’s keep our eyes wide open, and pray the EV/Plug In Hybrid train has enough momentum to literally force GM’s hand in producing the wonder creations it has in it’s posession.
RECHARGE!
James
RECHARGE!
James
+5
Aug 13th, 2010 (7:36 am)Successful “older guys” generally bring a lot of experience and a “been there seen that” perspective can keep things moving in a positive direction with fewer costly mistakes.
+6
Aug 13th, 2010 (7:38 am)“Akerson is said to be intolerant of those who don’t carry their weight and will continue to stir and shake-up the already dizzy GM management.
“He’s a no B.S. kind of guy, just like Whitacre,” Steven Rattner
———————
As long as he doesn’t create a fear-based work environment. That will kill creativity.
+4
Aug 13th, 2010 (7:39 am)Nick D Said:
Mr. Akerson, if you really want to shake things up, how about a Voltec option in every vehicle GM offers.
Please understand this means 10s of miles with no gas whatsoever.
Aug 13th, 2010 (7:45 am)I thought GE was #1?
+5
Aug 13th, 2010 (7:47 am)Does anyone remember what happened to XO and Nextel? YIKES!!
+8
Aug 13th, 2010 (7:52 am)Interesting perspective and could easily be true.
Oil companies may have had a hand in getting Akerson in at GM.
The Detroit Free Press News noted Akerson is a MAJOR Republican Party supporter with big donations so it appears it was pressures other than political that got him on the GM Board.
Let us see what the next few months bring in Mr Akerson’s vision for the company, especially in regard to alternative energy decisions… like the VOLT.
But as long as oil prices stay relative low Mr. Akerson may not be making any real choices. The market may have more impact on the VOLT’s fate/future.
+2
Aug 13th, 2010 (8:01 am)If he is for the electrification of transportation then excellent! Good luck Dan, we all are looking forward to the launch of the Volt in about 100 days. God speed.
+1
Aug 13th, 2010 (8:09 am)I wish Mr Daniel Akerson all the success in the world. I too hope GM will aggressively incorporate the Voltec drive train in every vehicle GM offers, including a small truck.
For larger vehicles it seems to me that GM can’t decide if they truly want to be in the hybrid drive train business. If they are going to compete with Ford and Toyota in that business then they need to get serious about building a drive train that utilizes better technology then they have been talking about. Start/Stop technology is not worth even being called mild hybrid. If their 2-mode drive train does not produce at least 60-MPG city/highway combined for larger vehicles, then they are wasting their development money. In a hybrid drive train the electric motor should be capable of at least 50 MPH before the ICE kicks on.
Maybe one of Mr Akerson’s first decisions will be to put GM on a course that will truly develop a hybrid drive train worthy of the GM label!
+10
Aug 13th, 2010 (8:11 am)More perspectives about GM CEO Akerson.
As a strong Republican supporter -
“Another interesting contribution was the $2,300 Akerson gave to Sen. Richard Shelby, R-Ala., who said government support for GM put the country “on the road to socialism.”"
It should be noted Alabama is a state loaded with foreign car companies that were given huge incentives in land, tax breaks, etc to locate there by the State.
—-
A Bob Lutz comment –
“Dan Akerson is a strong leader with strong views. He’ll need to temper his preconceived notions with a willingness to listen to those who have transformed GM,” the now-retired Lutz said in an e-mail from Switzerland. “If he can do that, and I think he will, he’ll be a great CEO.”"
The full Free Press article about Mr. Akerson-
http://www.freep.com/article/20100813/BUSINESS01/8130321/1319/Meet-the-new-boss-at-GM-Dan-Akerson-to-be-CEO
+1
Aug 13th, 2010 (8:12 am)James, what makes you think Akerson was even remotely involved in that deal?
+4
Aug 13th, 2010 (8:21 am)As of 4-08-’10 according to Forbe’s regarding “biggest” – you are correct sir. Exxon has slipped from #1 to #4 in their most recent rankings of the world’s biggest corporations.
Exxon/Mobile ranked #1 in Profits
Exxon/Mobile ranked #1 in Market Share
Exxon/Mobile renked #2 in Sales ( behind Royal Dutch Shell – another oil company )
~ over all corporations in the known world.
Exxon/Mobile ranked far down the list in Assets – which I find telling and very interesting food for thought. What does this data tell us about oil company’s pricing to the consumer? Thanks for keeping my feet to the fire in the current data accuracy dept..
RECHARGE!
James
+2
Aug 13th, 2010 (8:23 am)Mr Akerson, I still can’t order my Volt from the NYC “initial” market area. If you or anyone else at GM is reading this, please get someone below you to look into it!
join thE REVolution
+15
Aug 13th, 2010 (8:28 am)James, here you go again with a “professorial lecture” that’s ~50% longer than even Lyle’s introduction! Why can’t you make your point and give your suggested book title in ~1/3rd this # of words?*
*See my post #142 on yesterday’s thread for a bit more constructive advice along these lines
+1
Aug 13th, 2010 (8:33 am)Is the direction of the new GM stronger than any CEO?
I like the simplicity of the company mantra to design, build and sell the worlds best cars. If this CEO can direct a singular focus of the company to do just that then we just may have something here.
If GM wants to build a $25k electric car what will be the compromises to making it the best EV out there at that price?
How much of a say will he have in creating the Volt gen 3?
Is Akerson’s focus primarily financial?
How much of a car guy is he?
What are his opinions of what the best cars are?
Would the CTS-V wagon exist as well as a Volt MPV5 under his watch?
Would he have kept Opel?
How would he allocate the funds created by the IPO?
How would he direct negotiations with the UAW for our labor to build the best cars?
Money guys scare the crap out of me.
-1
Aug 13th, 2010 (8:34 am)At the risk of making the site look like a message board. I will respond.
Thanks Nasaman for a point taken. I’ll attempt to be a man of succinct facts rather than “articles” in the future. Question: Do you think my observations are worthy or a load of crap?
~ Or did you just plain fall asleep in paragraph 21? L
L.
This is a big issue and there’s lots to cover.
Thanks again. Your opinion counts to me.
RECHARGE!
James
Aug 13th, 2010 (8:42 am)From Freep:
“GM spokeswoman Lori Arpin said she did not know whether Akerson would move to Detroit.”
If he doesn’t have a permanent residence, then, he’s a temp.
Aug 13th, 2010 (8:43 am)Good luck to you, Mr. Akerson.
On another note, today is the first day I’ve noticed that the ads on this site are finally Volt ads!
(my apologies if they appeared before today – I’m just noticing them today because with my recent work schedule I haven’t had alot of time to spend here)
Go Volt!
Now back to work…
+9
Aug 13th, 2010 (8:47 am)Mr. Akerson,
Product quality has really improved in the last 24 months, and I’m sure it will continue into the new Volt and Cruze that will be out soon.
Now, how about lighting a fire in the Marketing Department for Chevrolet? Their ads have been ‘lacking’ for some time. We are all looking forward to the Volt ads… And soon!
+7
Aug 13th, 2010 (8:47 am)I didn’t fall asleep because I didn’t read your entire overly-long post #15. First, because the subject is of little interest to me. Second, because I couldn’t do much (or anything) about Akerson’s appointment. Third, because I don’t feel qualified to offer an opinion. So I’ll await further comment by someone like LauraM or Statik.
Aug 13th, 2010 (8:55 am)From the article, “The other, most revelant to us, is the fact that he has advocated for GM to expanded development and production of fuel efficient vehicles. In particular he was instrumental in the recent decision for GM to increase 2012 Volt production volume from 30,000 to 45,000 vehicles.”
Hope he will be instrumental in extending the EV range for future generations of Volt and other voltec vehicles instead of the opposite as has been suggested recently.
Hope he will also be instrumental in coming out with a Volt convertable. Not likely to happen, but one can always hope.
+47
Aug 13th, 2010 (9:00 am)For those of you criticizing the typos in the article, I have something to ask.
Are you not educated enough to see around them?
Do you have the time to provide a new daily article while holding down a family and full time job?
How many of you are perfect?
If the typos are the worst thing that happens to you this year, please consider yourself profoundly lucky.
Too many people die from cancer each year. The Volt can help reduce cancer causing pollutants that we breathe every day. This is an example of what is important. The typos are examples of what is not.
My point is this: Sweat the important stuff and let the little stuff roll off your shoulders.
Thank you Lyle for everything you do. I don’t miss a day here and you earned my respect a long time ago.
+17
Aug 13th, 2010 (9:03 am)Wish I could give you more than a +1 on this one!
Aug 13th, 2010 (9:06 am)Here’s Dan’s wiki: http://en.wikipedia.org/wiki/Daniel_Akerson
Forbe’s profile: http://people.forbes.com/profile/daniel-f-akerson/4686
and his LinkedIn profile: http://www.linkedin.com/pub/dan-akerson/2/20a/86b
+2
Aug 13th, 2010 (9:14 am)“The instability certainly is a shock to insiders; it’s stunning to outsiders and you don’t usually have that happen,” Sonnenfeld said. “There is a story here that we are not getting. Clearly this was not part of a planned succession.”
___________
GM CEO steps down on cusp of IPO filing
http://news.yahoo.com/s/nm/20100812/bs_nm/us_gm
+2
Aug 13th, 2010 (9:18 am)Dan Akerson: I like this guy, and I only first heard of him yesterday!
I like that he’s an outsider with a deep, proven track record of marketing innovation. You could say, “Yeh, but he doesn’t know cars!” and to that I say, neither does Ed Whitacre and look at the good results he’s achieved. Plus isn’t Ford run by a former Boeing CEO who had no previous car company experience?
Aug 13th, 2010 (9:19 am)Makes you wonder if we’ll ever find out who was part of the decision to reduce it to 30,000 prior to that and why.
+5
Aug 13th, 2010 (9:25 am)This can’t be stressed enough. Quality and reliability need to continue improving and needs to be back by the best warranty on the planet.
+1
Aug 13th, 2010 (9:32 am)No call yet and no email either… but I am still hopeful.
Take Care,
TED
+5
Aug 13th, 2010 (9:36 am)+10 What a superb idea.
Take Care,
TED
-3
Aug 13th, 2010 (9:44 am)Marketing innovation? Usually works best if you have a worthwhile product.
Aug 13th, 2010 (9:57 am)true!
-2
Aug 13th, 2010 (10:00 am)What was their original goal? It would be great if they can restore the original goal and their original price.
Aug 13th, 2010 (10:06 am)Thank you for the link Neutron.
+1
Aug 13th, 2010 (10:07 am)If he pushed for a production increase, that means he’ll probably push for it to be put in other vehicle segments. We can only hope. XO communications doesn’t ring a bell, and Nextel I remember as the “old GM” of cell phone providers that never innovated until they finally had to merge with Sprint to stay alive. It’s very likely that he’s just going to be CEO through the IPO since that’s his forte though. Maybe then they’ll get someone who at least knows about manufacturing in there. My respect for American executives is falling quickly. I’d rather see an Asian CEO sometimes because they really know what it means to “compete” instead of just sit around on their laurels and collect a paycheck while keeping up appearances of “working towards a better future” or “duty”.
+6
Aug 13th, 2010 (10:09 am)========================
+1
Well said!!
Aug 13th, 2010 (10:12 am)I believe you have a good point. If GM wishes to remain innovative instead of just a bean counting company… they need to make a decision along the lines you have outlined. I vote for hybrid…. ones that can deliver MPG like you have indicated plus have the capability to tow a reasonable weight.
Aug 13th, 2010 (10:17 am)==========================
Here are the numbers I found:
#1 in sales – Wal-Mart —- Exxon-Mobil #3
http://money.cnn.com/magazines/fortune/global500/2010/
#1 in profits – Gazprom — Exxon Mobil #2
http://money.cnn.com/magazines/fortune/global500/2010/performers/companies/profits/
These are all numbers games………….
+3
Aug 13th, 2010 (10:18 am)Welcome Mr. Akerson!!!
Now when can I order a Volt from my local dealer in Ohio?????
Aug 13th, 2010 (10:18 am)We probably won’t find out a lot of insider stuff until Lutz starts publishing books. Even then, he probably has a lifetime NDA.
It will be interesting to see what’s in the disclosure statements for the IPO.
Aug 13th, 2010 (10:19 am)Very good point Loboc, perhaps its not easy finding the right GM CEO.. or perhaps its their way of cleaning house, Whitacre did his part cleaning out the garage and now its Akerson’s turn.. or perhaps its a temp job.
As many people have mentioned its never a good idea to divert from the IPO buzz with this announcement, the timing is odd.. hopefully is not a health issue with Whitacre
+2
Aug 13th, 2010 (10:23 am)“John M: I got my first call from Chevrolet (not the dealer) last night thanking me for ordering a Volt and informing me that I will be getting another call… Anybody else get any calls???”
Yes, the caller thanked me for “the purchase” and said that a detailed report of the build progress on the Volt will follow during it’s production. Very good move GM. Inform the consumer and create buzz. Dealers will have demo cars for public drives in November. It’s going to be an electrifying 2011.
=D-Volt
Aug 13th, 2010 (10:26 am)I dealt with XO on several occasions. They weren’t very helpful because they didn’t own anything. They basically resold telcom packages from wire providers. (Like DSL and T-1s for small business.) When you had a problem, it was a real hassle since they were sitting in the middle of the techs that needed to work together.
It’s like in Texas where your electric billing company has nothing to do with the electric delivery company. They just put a phone number on the bill for ya.
+1
Aug 13th, 2010 (10:30 am)They will probably do a search and get a CEO after the IPO settles down and they no longer have the US Government telling them what a CEO is worth.
+1
Aug 13th, 2010 (10:33 am)It’s impossible to predict how good Akerson will turn out to be. Who would have predicted that Alan Mulally would turn out to be such an inspired choice for Ford? People get appointed on the basis of past successes, and those successes are often more the result of being at the right place at the right time than anything else. Certainly Nextel and XO during the later stages were not great successes — I believe XO went bankrupt during his tenure. But again, that may have been a case of being at the wrong place at the wrong time, which also happens. IOW situations matter more than the skill of the CEO. A good captain can keep a ship safe in a storm, but if the storm is big enough there may not be anything that can be done. And even a bad captain may enjoy great success if the seas co-operate.
Personally I would have liked to have seen Fritz Henderson be given more of a shot. Despite the fact that he was a GM insider, which was a big negative since it’s hard for people who are brought up in a culture to really want to change it, he had great knowledge of the car business and did seem to understand how GM had to change. But I don’t have a crystal ball either so perhaps Akerson will turn out the better choice.
+5
Aug 13th, 2010 (10:40 am)One of my bosses told me about writing “reports.” ” If you cannot state your idea in the first two paragraphs I will probably miss it. That is all I read. The rest of your ONE page report should be data or logic to back up paragraphs one and two”
One of my teachers noted that writing is an intensely personal experience because what you believe and state is there for everyone to read.
There is no backtracking and it teaches one to be as clear as possible to themselves, to others and … to handle criticism. :=}
Note to JAMES… KEEP WRITING! If it working for you it works for us. We do not have to agree with everything but we do value your input
+2
Aug 13th, 2010 (10:42 am)+++++++++++++++++ BREAKING NEWS!+++++++++++++++++
WikiLeaks.org has announced it will be disclosing classified GM information inside sources state includes:
1) Chevrolet Volt’s CS mode mileage
2) GMAC’s Volt end of lease residual amount
3) Chevrolet Volt’s actual gas tank capacity
4) Ed Whitacre and Daniel Akerson’s golden parachute amounts at retirement
5) Whether the Tooth Fairy, Santa Claus and the Easter Bunny truly exist
+4
Aug 13th, 2010 (10:46 am)This is BS. One, other than the congressional insurrection which caused GM to reinstate dealers it wanted to dump, there is no evidence that the government has been involved in any of this decision making. You want to cite something that says otherwise?
Second, the government will still have effective control after the IPO. Third, despite all the yelling and screaming about the pay guidelines set form by Kenneth Feinberg, no one, and I repeat, no one, has been able to demonstrate that any of these compensation guidelines caused people to quit or move to new jobs at a rate greater than the baseline rate. While it’s true that if you pay peanuts you get monkeys, it’s also true that after some point throwing money at people doesn’t get you any better performance.
+1
Aug 13th, 2010 (10:48 am)Codger, its very likely a full move by GM towards electrification would finally destroy GM.. the cost of components is just out of sight and customers will hesitate at even a $2k electric premium at current gas prices under $3 a gallon.. some news recently on the trend back towards SUVs and big trucks.
GM can get ready for the future if demand changes suddenly, its not that hard to convert an SUV to a BEV or EREV as several recent new companies have demonstrated.. GM is already planning on building motors/inverters and they do have a new battery lab/assembly plant for the Volts battery.
What GM desperately to do is to build a huge lithium battery factory, start small but with decent growth potential.. if GM buys batteries from a third party they will never be competitive making electrics. I bet the government would give them lots of money to build that battery.. the machinery used to make batteries is specialized and I bet the worlds supply of that equipment is severely backlogged for a few years. Look at the example of Nissan, the LEAF should have been $2k more expensive than the Volt (due to the larger battery), instead the Volt has been priced $9k higher.. the magic of mass production and GM used to be the master of this. You will know GM is serious when they start building a battery factory.. even a small one would give them experience in that field.
Start/Stop tech is very desirable, it should be on EVERY GM product, but just dont call it a hybrid of any sort, also for fairness sake make sure the EPA can properly account for the gas savings in their test..
Its not likely to get 60mpg out of a large SUV or truck, way way too much drag… but I can easily see 25-30mpg city out of those vehicles with the right electric assist tech at moderate slow stop and go traffic.
Regarding the 50mph speed on electric.. even if it was much lower than that it would help immensely.
+1
Aug 13th, 2010 (10:49 am)Thank God for Wikileaks! At last we’ll have the information we’ve been waiting for. (+1 for the humor BTW).
-7
Aug 13th, 2010 (10:55 am)Is there advice to something that was disregarded?
For 3 years, intense focus was placed on the engineering aspect of Volt. Pointing out the problem on the business side, sighting recent examples from Two-Mode, fell on deaf ears. Enthusiasm was all about the vehicle itself, not the mess which often comes from poor management decisions.
You cannot backtrack if there wasn’t anything in the first place. And of course, saying “you were warned” so is pointless. Conflicts of business often screw up great engineering. Reacting is too late.
It sure looks like it’s time to become proactive.
Aug 13th, 2010 (10:55 am)XO owns a huge amount of fiber and it has a very good network. If Carl Ichan didn’t want a tax write-off it would have been snapped up by a competitor long ago. What you probably experienced was that for XO your building wasn’t lit, so it had to lease some connections from ATT. And guess what? ATT is a competitor which is probably not that interested in getting XO those connections done on time.
+3
Aug 13th, 2010 (11:19 am)Don C, don’t encourage him. After reading James post #15, I was ready to reach for my tin-foil hat and hide from the evil government mind-reading satellites. I love a good conspiracy theory, and that was NOTHING like a good conspiracy theory. But back to reality…
I want to see if Dan Akerson does anything about GM’s loose cannon dealership system – specifically, price gouging. You would think $1800.00 built-in profit on the MSRP would be enough, but nooooo. Stick with MSRP. The dealers would then have to compete for vehicle service quality, not price. The ancient barter-style sales system used by GM today is about 2000 years out of date. (and Corvette Guy, Saturns were undependable – that’s why Saturn failed, not “one price” sales. Don’t even go there)
Dan, fix this, and I will truly be impressed. Just remember the warning about alligators when you try draining the GM swamp.
+2
Aug 13th, 2010 (11:21 am)I have a feeling that Akerson is the reason that Lutz retired. Just a feeling.
Aug 13th, 2010 (11:42 am)Could GM notify each buyer as when their Volt will be assembled, so the buyer has the free option of visiting the assembly plant and seeing his/her Volt being built by each GM employee? This is a good motivation to buy the Volt and a feedback for the workers, when they can see the bright eyes and huge smiles of the future owners. I was willing to visit the Ford plant at Dearborn some time ago when I was interested in a Mustang, but I preferred to stay with GM cars (having owned five since I began driving).
Raymond
Aug 13th, 2010 (11:54 am)???
Actually that comment was related to what a writer chooses to comment about. When it goes to print it is out there. One can always retract.
I am assuming you selected the wrong quote and are referring to another subject?
+1
Aug 13th, 2010 (11:54 am)Both Whitacre and Akerson (among others) were placed on the board based on the US Treasury’s intervention:
“In July 2009, Akerson was named to the board of directors of General Motors as a representative of the U.S. Treasury, which owns a 61% stake in GM.”
http://en.wikipedia.org/wiki/Daniel_Akerson
It’s not BS, it’s a fact.
+1
Aug 13th, 2010 (11:58 am)Hopefully he will drive the cost reductions in the Volt gen2 so it is affordable to the general population. Then produce the Volt in the 100 thousands not the 10′s of thousands! GO EV’s! NPNS!
Aug 13th, 2010 (12:05 pm)Well, you’re kind of agreeing with me then.
XO didn’t own facilities in the buildings I worked on. So, to me, they didn’t own anything even though they sold T-1 service in those buildings. Whether they owned facilities where I don’t have buildings is irrelevant. (to me).
Aug 13th, 2010 (12:08 pm)Advanced age should not be a discouraging factor, in and of itself. Lots of these older guys are what you might call “high achievers.” I know a few 70+ year old executives who need less sleep than me, get up earlier than me, read more than me, work out every day, get more R&R, and even some who could probably physically beat me up. And I’m relatively fit, and 40 years old.
Just sayin’.
-7
Aug 13th, 2010 (12:08 pm)It was about all the reactionary excuses posted here routinely to all the mixed messages we get.
Rather than clearly stating what WE AS CONSUMERS want from Volt (explicitly listing goals), many have just been hoping for the best from each new EXECUTIVE.
Why isn’t there a push coming from this group?
+2
Aug 13th, 2010 (12:19 pm)Didn’t the government force/ask Wagoner to resign? (and he was working for $1/year)
Aug 13th, 2010 (12:33 pm)Ya got it backwards.
Performance is rewarded with compensation that’s agreed up front.
This so called ‘golden parachute’ (based on performance) is designed into their contract from the git go. I fail to see what’s wrong with that.
My point is: With the treasury controlling more than fifty percent of the stock, they won’t be able to attract a CEO with some moxie. They need to get the IPO done and get out from under government control before a good CEO will emerge from the ashes.
Maybe Akerson is the guy. Maybe not. Mulally at Ford has at least managed a manufacturing company before. Marchionne at Fiat/Chrysler is a turn-around car guy. But, that’s another story.
With Akerson at the helm and CFO/COO synergies, it could happen. I have doubts.
+4
Aug 13th, 2010 (12:43 pm)Volt vs. Leaf on NPR @ 2pm eastern today.
http://www.sciencefriday.com/about/listen/
Aug 13th, 2010 (12:46 pm)I ordered my Volt on 8/6 and as of today, 8/13 no calls yet. I like the idea of being invited to see the assembly in Michigan. Living in Maryland makes it a short trip. I haven’t seen anywhere to search my order number. Is the info strictly limited to phone calls?
Barry
Aug 13th, 2010 (12:47 pm)My vote lies with the Volt!! It’s just a prettier car and the Leaf looks like a catfish!!
+2
Aug 13th, 2010 (12:53 pm)Representatives from this group have been very active in Volt driving demos and subsequent feedback to GM.
What Lyle and this group have done is create enough buzz that GM said: Wait a minute. We might have something here!
From Lyle’s unwavering activities, along with his back-up players, I think that this group has made a hellofa difference so far.
Aug 13th, 2010 (12:54 pm)Yes the Board was appointed by the ATF. No way around that actually. But that’s not what you were talking about. Go back and read what you wrote. Your points were that the IPO would eliminate government control, which is BS, and that the government was telling the Board what the CEO pay should be, which is likewise BS.
+1
Aug 13th, 2010 (1:01 pm)But even at $1 per year, he could still continue to create harm for GM.
Better to let him go.
+1
Aug 13th, 2010 (1:02 pm)Best comment of the day, Nothing more needs to be said.
-1
Aug 13th, 2010 (1:04 pm)great sense of humor, lol.
-2
Aug 13th, 2010 (1:08 pm)old brains just don’t cut it, I speak from experience.
+2
Aug 13th, 2010 (1:08 pm)If there was a correlation between pay and performance then paying more would get you more. But it’s not so it doesn’t. A lot of studies have been done on this question and they all end up showing that pay and performance are unrelated. Plus paying up front makes it worse. It’s like the NFL draft where, empirically speaking, it’s best not to have high draft choices because you pay a lot for uncertain performance.
I don’t think the problem of getting a terrific CEO is remotely related to pay. It is related to figuring out who actually has the right stuff for the job. Staying with the football example, if professional teams fail so often at identifying performance when the skills are limited and directly related — you’re using the identical skills just at a different level — how can you expect companies to identify who has the right set of very complex skills it takes to run their business when the potential employee is coming from an entirely different business that may require totally different skills? Maybe it’s possible but history demonstrates that it doesn’t happen that often.
On a related note, the mismatch between the skills needed for one job as opposed to another, and how infrequently skills that make an employee successful at one job translate to another, it would be better for companies to promote randomly rather promoting on merit. It’s an extension of the Peter Principle. People good at Job A get promoted to Job B but their skills don’t translate, so you end up with employees in both Job A and Job B who aren’t well suited to their jobs. The older a company is the bigger an issue this becomes.
Aug 13th, 2010 (1:08 pm)DonC,
Can you explain that to me? I still am not understanding how all this is supposed to work. So, after they IPO, will the govt now own less of GM or more. Cannot the govt just sell all it “shares” once they IPO? Or would the dumping kill the stock?
I hate the stock market, mainly because I can never understand all the underpinnings of how it all works.
Aug 13th, 2010 (1:14 pm)very good point Don. The adage ‘money fixes everything’ just doesn’t work; if it did the Great Recession would be far behind us.
-4
Aug 13th, 2010 (1:25 pm)FACT: Whitacre was fired right after he said the following in public:
“We don’t like this label ‘Obama Motors.’ We don’t like this label of government ownership. People in GM are embarrassed by that. You lose your reputation. It’s hard to get it back.”
And this was right before a crucial IPO when a huge management shakeup like this is the last thing they should want. Smells like evidence to me.
Aug 13th, 2010 (1:29 pm)No. I said after the IPO settles down which is some time after the Initial Public Offering.
Treasury appointed the Board and the Board controls what the CEO is offered. Therefore the Treasury controls the CEO’s compensation. TARP money comes with strings attached as well.
Once the IPO is done *and* the government owns less than 50% of the resultant company, then, GM will be free to hire anybody they want at whatever price is needed.
Aug 13th, 2010 (1:36 pm)Thanks for the head’s up. Good discussion on NPR right now.
Aug 13th, 2010 (1:48 pm)Not DonC. But if you own a larger percentage of a publicly traded company than any other individual holder, you basically control it. Even if it’s not technically a “controlling” interest. Mainly because the rest of the ownership is divided. And many people with minority shares don’t bother to the vote.
Of course, the government, being the government, has resources to control (or at least influence) any company regardless of ownership. (Although, in practice, it’s more the other way around–to our detriment.) And, with regard to GM, the government is doing its best to take a back seat anyway for ideological reasons. So, I’m not sure how relevant the “usual” case is anyway.
Aug 13th, 2010 (1:56 pm)Thanks LauraM!
So, once GM does the IPO, will the govt bail out slowly, or is it automatically out of GM?
I would assume the govt wants to be out of the car business ASAP?
-5
Aug 13th, 2010 (1:56 pm)Is it just me or does anybody else seem to see this, GM or should I say ” government motors ” looks to be cutting corner to get the volt out fast and that could produce a less then desirable car. I was on the list to buy but I dropped out, I was counting on the solo carpool privleges as a benefit which I need, not to mension that state rebate. GM is a manufacturing company that is in trouble- changing personel at the helm frequently
does not give you a good indication. You got to ask yourself do I want to take that chance on a vehicle that’s over priced and probaly a risk? Remeber GM went under with the same kind of CEO’s in charge, they might
just make you go under -who’s going to bail you out?
+2
Aug 13th, 2010 (1:57 pm)Yes. That was neat to hear them discussing the Leaf and Volt.
Tony P. did a nice job of representing GM and the Volt.
+3
Aug 13th, 2010 (1:58 pm)Just you.
+2
Aug 13th, 2010 (2:02 pm)The very best for incoming Daniel Akerson and outgoing CEO Whitacre.
Hopefully media din from shock subsides. For example…. “the issue for GM is stability,” says Michael Robinson, senior vice president at Levick Strategic Communications. GM needs “a leader who is going to unpack his boxes and stay put.” … (USA Today)
I expect CEO Akerson to show pretty fast his strong engineering insight that the auto media’s clamoring about. My understanding is he enjoys being a productive design engineering manager.
That plus ensure no daylight between Whitacre’s open door access and him. Particularly VOLT. And he and GM’s IPO should be fine.
Meanwhile, CFO Liddell should be dancing on the table that his new boss comes with a proven strong CFO background. (And his stock option is book $80/share.)
+3
Aug 13th, 2010 (2:03 pm)That varies a great deal according to the individual. I also know several 70+ year old people who function mentally a lot better than I do.
+3
Aug 13th, 2010 (2:10 pm)That depends on how much of their share they decide to sell The fewer shares they sell overall, the higher the price. At least at the IPO. And the government has a LOT of shares. And, right now, the market is rather depressed…(Of course, that could change by September. Or it might be worse.)
On the other hand, if the Government holds on to a substantial stake, then everyone knows there’s a long term seller in there, which will put downward pressure on the stock. Plus the “government motors” stigma.
But I doubt the government’s going to be willing to get out all at once. Been there, done that, and it backfired with the banks…
Aug 13th, 2010 (2:11 pm)It’s tough at the top. The biggest question for a person in a new role of leadership is how flexible to be. Taking the rigid road, like Wagoner, isn’t the way to go. Looked like CEO Henderson’s approach of being flexible, light, and fast moving didn’t seem to be the answer either. What took both these guys down were just a few comments of less than 20 words each. Mr. Akerson has a clean slate now. Stay focused, listen, and be flexible.
=D-Volt
-4
Aug 13th, 2010 (2:13 pm)Successful older men usually start thinking about their retirement and start to wind down. When a person is is their late 40′s, they are usually at their peak performance. That why GM should have picked a younger person.
+2
Aug 13th, 2010 (2:24 pm)I have a feeling you are right!
+5
Aug 13th, 2010 (2:29 pm)Alan Mulally’s doing a great job at Ford. And he’s 65. Warren Buffett is 78, and he’s still running Berkshire Hathaway.
Not everyone wants to retire. Some people love their jobs. And want to continue doing it for as long as they’re able. Bob Lutz joined GM at 69, well past retirement age.
Aug 13th, 2010 (2:30 pm)All i hear is talk about SETI?
-6
Aug 13th, 2010 (2:45 pm)Look at real great companies. Google, Apple, Cisco, and I’m sure I could think of more. These CEO were and some still young when they acquired their CEO positiion.
It’s not a good idea to make a person head of a company just before retirement! You kidding yourself if you think otherwise.
Aug 13th, 2010 (2:55 pm)It’s a forward correlation not an equal one. The reverse may not be true.
More pay => more performance => not necessarily. (reverse of what I said)
More performance => more pay => usually works. (forward correlation)
Everyone from a piece-work seamstress to a CEO of a major company is doing it for some sort of compensation.
If the seamstress produces more pieces, and is paid by the piece, then she makes more money.
If the CEO negotiates a contract and meets the requirements, she gets her pay (money and/or stocks) If she negotiates a bonus package, she needs to step up to those requirements to get compensated. If the contract is missed, she gets fired.
In these cases, more performance = more pay. In other words, strong correlation.
Now, if you just give someone a 5% raise every year, then, their performance probably won’t change much. It will probably even decrease over time. (Could increase if their coworker got fired and they gotta do their job too for the same pay. But that’s outside the money vs performance discussion.)
In this case, more money = iffy performance. In other words, no correlation.
-3
Aug 13th, 2010 (3:00 pm)
Aug 13th, 2010 (3:31 pm)Depends on the activity where the peak is. Late 40s is well past prime to play professional football, for example. For a research person, 60s might be their first published paper.
Making generalizations about certain age groups is discrimination. Maybe some more research and maturity is needed before jumping to these conclusions.
+1
Aug 13th, 2010 (3:33 pm)Same for you. See post 109.
+1
Aug 13th, 2010 (3:37 pm)I don’t think you deserve all the negs, James.
From Wikipedia:
“In 1996, Akerson was hired to be the chief executive of Nextel. During his tenure as CEO, Nextel’s revenues grew from $171.7 million in the year before his arrival to more than $3.3 billion in 1998. In July 1999, Akerson was brought in by Craig McCaw to run Nextlink Communications, later rebranded as XO Communications.[3] XO entered bankruptcy in June 2002, and Akerson resigned as CEO in December 2002.[4]”
Daniel Ackerson has only been CEO of two companies. Looks like great success in Nextel, but only two years during the dot com bubble. Was the success really him or just a good plan already in place for him to enjoy? Later he ran XO Communications into bankruptcy in 3 years. Was it already doomed to failure, and he couldn’t turn it around? Not exactly a sparkling endorsement. 5 years total experience, 3 a disaster.
+2
Aug 13th, 2010 (3:39 pm)I turn 55 in January! I guess according to ed and Joe I should blow out the candles before I catch the house on fire then just walk out in front of a bus?
Aug 13th, 2010 (4:15 pm)You guys need to do some research before making generalizations.
http://www.amazon.com/Secret-Life-Grown-up-Brain-Middle-Aged/dp/0670020710/ref=sr_1_1?s=books&ie=UTF8&qid=1281733898&sr=1-1
or this:
http://www.amazon.com/Intelligence-Jeff-Hawkins/dp/0805078533/ref=sr_1_1?s=books&ie=UTF8&qid=1281733736&sr=1-1
Older people learn differently than younger ones. It has something to do with the way connections are made to experience. There are other books on the subject.
Plodding in the correct direction is way better than running in the wrong one!
+1
Aug 13th, 2010 (4:30 pm)The government could sell all their stock in the IPO, some of their stock or none of their stock. I think they’ll sell a bit less than half their stake (25% of the company). Practically speaking, it’d be tough for the market to absorb all the shares at once. Selling zero government shares creates different problems, as investors would be leery of investing in a company that’s majority owned by the government (especially this government).
Politically, selling all or none of their shares in the IPO opens them up to criticism if the price moves against them (“why didn’t they sell when they had a chance” or “why did they sell too cheap and let hedge funds profit at the expense of taxpayers”).
After the IPO I seriously doubt the government will sporadically sell shares in the open market. They will either do a series of secondary offerings in which they sell digestible chunks at specific times, or they will commit to a long-term sale program in which they automatically sell a certain number of shares every day.
Aug 13th, 2010 (4:39 pm)It’s a 2 hour show. The Volt vs. Leaf segment was about 40 minutes of hour 1. The SETI segment was in hour 2. Some local stations broadcast hour 2 live, and then hour 1 delayed. Podcasts will be available, tomorrow, or perhaps later, today. I didn’t learn much, but Tony was so enthusiastic, I had to turn my radio down.
http://sciencefriday.com/
+24
Aug 13th, 2010 (4:51 pm)If you guys are done debating the merits of execs ‘over 50′… here are some interesting tibits from the Chevrolet VOLT Certification Training we are going through:
If you ‘open the hood’ while the car is “ON”, the ICE Generator engine will start to let you know the car is running. (seems like that is a warning not to mess around under the hood while car is on.)
There is a seperate ‘high pressure’ coolant reservoir for the battery cooling system and power electronics. (very interesting.)
High Voltage cables under the hood are bright orange.
There are “remote positive and negative” terminals under the hood. I wonder if those are for “jumping the ICE Generator” or for “jumping your friend’s dead Nissan Leaf”…?
Configuration of the instrument panel is controlled through the left-hand stalk collar. The same used in the Camaro and Equinox for the Driver’s Information Center. Over 60 different messages are available to the driver. It also has an embedded tutorial.
Training video says electric range is maximized at 50 MPH.
The Fuel System for the ICE Generator is pressurized. When you press the Fuel Button on the Driver’s door, you have to wait a few seconds for the pressure to equalize, then the fuel door will open.
Key Fob has Lock Doors, Unlock Doors, Charge Port Door release, Remote Vehicle Start “which does not necessarily start the gas engine. Instead, it “wakes up” the VOLT and pre-conditions the interior cabin. (sounds like KITT from Knight Rider…)
The VOLT’s “Engine maintenance Mode” (EMM) is activated only when vehicle has been driven without the use of the generator for about 6 weeks.
The “Fuel Maintenance Mode” (FMM) will start the VOLT’s generator to start using fuel when it has been driven purely on electricity charge for about a year. This helps eliminate the stale fuel.
BOTH of those maintenance systems have an alert on the driver’s screen and asks for permission to proceed. (fascinating…)
The Powertrain Warranty is 5-years/100,000 miles. The “Lithium Battery” is 8-years/100,000 miles.
The “Chevrolet Connect” Smartphone App by OnStar has a lot more features than we have seen originally.
Form 8936 is the IRS form used for the tax credit.
Form 8911 is the IRS form used to cover part of the cost of charging station.
The DOE is giving away the FREE 240V charger but there are stipulations.
Aug 13th, 2010 (5:30 pm)This is a great car for America and the world. NO more foreign OIL please.
CHEVY VOLT: American-made, American-FUELED.
Aug 13th, 2010 (5:39 pm)What does the “Engine Maintenance Mode” do? Thanks for the all that great info. Very interesting.
Aug 13th, 2010 (5:45 pm)This is meant to say: “We don’t need no stinkin’ hybrids.” I’d rather buy a European import turbo.
+1
Aug 13th, 2010 (5:54 pm)Thanks for all this great “inside information”, CorvetteGuy! You’re a real asset to this Blog!
Aug 13th, 2010 (6:10 pm)EMM starts the ICE Generator Engine for a few minutes to lubricate the engine and to make sure it is operating properly.
Aug 13th, 2010 (6:21 pm)I am waiting for mine as patiently as possible.
/breathe slowly, remain calm.
Aug 13th, 2010 (6:22 pm)Everyone has their POV. This one isn’t very sophisticated but whatever. For a business network it’s not customary to light every building. It’s not economical. So the carriers cut mutually reciprocal deals where they can use each other’s facilities. ATT of course has more lit buildings since for many years they were a government created monopoly — the granddaddy of government interference with the markets. Of course all the operators could roll their own fiber to each building, but then prices would go up considerably.
Lots of companies could use XO’s network, and when it gets put up for sale one of them will snag it.
Aug 13th, 2010 (6:23 pm)At your workplace there is one parking space in the corner of the parking garage which has a 120V outlet near it. A Volt parks and plugs in. A second Volt parks next to the first one and plugs into one of the 3 120V outlets in the first Volt’s cabin area. Then a third Volt arrives and does the same with the 2nd Volt. I think this will work. Just much longer to charge the bunch.
=D-Volt
Aug 13th, 2010 (6:32 pm)Pretty much right on. I think for the Obama Administration the first goal would be to get government ownership under 50%, giving them the ability to claim that the government no longer “own” GM. However, from an investor standpoint, I actually think the government owning shares isn’t a real problem. In some ways it provides downside protection. On the other hand, the next single largest shareholder after the government is the UAW. That may be more problematic since I don’t think it’s every happened before where a company union had de facto control of a company.
On the other hand, it’s hard to see why so many conservatives have gotten their panties in a bunch over government ownership at GM. I mean they didn’t seem to care about GM’s somnolent board, its incompetent management, or its failed economic policies — all of which resulted in complete and total destruction of massive shareholder wealth. That was OK. But now that the government and the unions own the bankrupted thing you’d think Armageddon is here.
Very amusing actually.
Aug 13th, 2010 (6:37 pm)That answers some questions which have been floating around for awhile.
+1
Aug 13th, 2010 (6:47 pm)Upping the production to 45,000 doesn’t help if the price of the Volt is still out of reach for most of us.
+1
Aug 13th, 2010 (6:57 pm)Do you mean, a “Menage’-a-Volt” …?!!
Aug 13th, 2010 (7:37 pm)More of a tether party. Unless it’s overnight parking.
=D-Volt
+2
Aug 13th, 2010 (7:43 pm)First, Thanks for the inside scoop. Maybe I was sleeping though a few of the follow up questions…. But after all that, no mention of Gas Tank Size?????
Are you holding out on us? or was there certain information you were sworn to secrecy by GM? If leaked, you would lose your Sr. Salesman card and be sent back to the prep department?
Aug 13th, 2010 (7:53 pm)No mention of gas tank size. I will now hang my head in shame…..
+2
Aug 13th, 2010 (8:15 pm)I always thought you wore a tin hat. L
L
Every fact I listed on post #15 is solid and researchable. You can hide you head in the sand, no problem.
To The Grump – and many others, apparently, the fact that Morgan Stanley and Goldman Sachs went on a spending spree buying oil derivitive companies like a shopaholic at a Macy’s Dollar Days culminating in buying the InterContinental Exchange – the very market where oil futures are traded….that Akerson, director of Carlyle Group ( a who’se who of oil industry investment firms ) was sued by the State of NY in 2009 along with their largest business partner, Riverbend Holdings. The fact they settled out of court ( under Akerson’s directorship ) and promised NY they would clean up their acts. These things don’t bother The Grump or others not having a grasp on reality.
No…it’s much more fun to debate Prius-Leaf vs. Volt for weeks on end. It’s more fun to just pretend Volt will be sold in generations 2, 3 and 14. He will call me a “conspiracist” because he is not here to deal with reality. Guys like The Grump want to believe SO BADLY that Volt will be made available to us at a fair price in regular car volumes , he is willing to live on Fantasy Island
Nine months ago, posters at this site welcomed Whitacre the exact same way – with boatloads of optimism and admitted they knew he wasn’t a car guy – that he lead AT&T and believed he’d be a great leader for the company. They welcomed him and said very nice things also. Later they realized he was up to his elbows with Exxon/Mobile but that just didn’t click – didn’t register with them.
Whitacre admitted on a post here – that he let the car guys do their thing because he really didn’t know that side. He then disappeared pretty much from sight and today he’s out. Now GM Volt posters say the exact same glowing, welcoming things to this guy – again not knowing from where he has come.
Nor caring.
RECHARGE!
James
Aug 13th, 2010 (8:28 pm)Exactly. His corporate leadership was absolutely no success story.
In fact, the only thing that stands out about Daniel Akerson is -
- That he’s oilier than a pelican trying to live in the Gulf of Mexico.
Period.
Aug 13th, 2010 (9:27 pm)Ampera – Feel The Magic
http://video.search.yahoo.com/video/play?n=21&ei=utf-8&fr=yfp-t-701-s&fr2=tab-web&tnr=20&p=ampera&vid=0001924697301&dt=1277335577&l=218&turl=http%3A%2F%2Fyts.video.search.yahoo.com%2Fimage%2F371dc2d51&rurl=http%3A%2F%2Fwww.dailymotion.com%2Fswf%2Fxdsjjf&tit=Vauxhall++Ampera++long+-distance++drive&sigr=115vioje9&newfp=1&surl=http%3A%2F%2Fwww.dailymotion.com%2Fvideo%2Fxdsjjf_vauxhall-ampera-longdistance-drive_auto&sigs=12fn2qr7g
“Up to 350 miles range”
=D-Volt
+2
Aug 13th, 2010 (9:29 pm)Did you see the article where Auto Nation is forbiding any of their dealerships to sell the Volt at over MSRP or be fired. They have 27 chevy dealerships and 230 overall.
Yea Go AutoNation
-6
Aug 13th, 2010 (9:31 pm)No that is for jumping the BEVs that GM is testing in other parts of the globe – you know when their children are sick and dyeing.
BTW, you can’t jump EVs. Even Prius has a special way to jump it. Don’t show off your ignorance.
+5
Aug 13th, 2010 (9:49 pm)You’re actually that lame that you can’t tell sarcasm or a joke? Get lost.
+4
Aug 13th, 2010 (9:51 pm)Although I’m admittedly a bit out of my element here, I’ve worked with quite a few very financially successful people during my long career in the space program. Without dropping names, I want to point out that a fairly high percentage of the most successful people I know got that way in spite of (or because of?) failures that took them and/or their corporations through bankruptcy. The simple truth is that most of us —from elite athletes to rocket scientists— don’t really learn as much from success as we do from failure! The person who can survive failures and can learn how to avoid them is very often better prepared to be ultimately successful than someone who’s experienced only a long string of successes. Therefore, assuming he can avoid any negative influences/agendas from his admitted involvement in the oil business, Dan Akerson may very well be eminently prepared to run General Motors.
Aug 13th, 2010 (9:59 pm)CorvetteGuy: You are the man!!! That’s about 3 weeks of posts for Lyle condensed into one comment. Assuming it’s all true, I am humbly in awe.
Aug 13th, 2010 (10:00 pm)Interesting, the inverter and battery pack are cooled together. “Separate” indicates there will be another coolant for the gas engine and possibly electric motors.
No information about oil change interval?
+2
Aug 13th, 2010 (10:03 pm)WOW, exciting info! Please keep it coming!
Be well,
Tagamet
+1
Aug 13th, 2010 (10:10 pm)But the more Volts on the road, the more word of mouth and exposure there will be. Every Volt out there is another opportunity for people to actually learn what it can and can’t do. JMO.
Be well,
Tagamet
Aug 13th, 2010 (10:11 pm)Hang in there! One of my customers just called me to let me know the Chevy Rep called to confirm his order and answer questions. It shouldn’t be long now!
Aug 13th, 2010 (10:14 pm)Correct. There is a seperate tank and fill lid for the ICE Generator coolant (radiator fluid).
I did not see anything about maintenance intervals, but I am trying to get an advance copy of the Owner Manual.
Aug 13th, 2010 (10:21 pm)I wonder if Lyle could snag a copy? It’d be real meat for a lot of daily posts! I’m guessing that GM won’t make them available until they have disclosed all of the specs.
Be well,
Tagamet
Aug 13th, 2010 (11:03 pm)… and put it on Wikileaks
Aug 13th, 2010 (11:11 pm)Look at all the new things I learned from CG’s post.
Thanks! I don’t know if any of these have been posted anywhere on the interweb before.
I really like the last one.. its just smart.
———————————
There is a seperate ‘high pressure’ coolant reservoir for the battery cooling system and power electronics. (very interesting.)
Configuration of the instrument panel is controlled through the left-hand stalk collar. The same used in the Camaro and Equinox for the Driver’s Information Center. Over 60 different messages are available to the driver. It also has an embedded tutorial.
Training video says electric range is maximized at 50 MPH.
The Fuel System for the ICE Generator is pressurized. When you press the Fuel Button on the Driver’s door, you have to wait a few seconds for the pressure to equalize, then the fuel door will open.
The VOLT’s “Engine maintenance Mode” (EMM) is activated only when vehicle has been driven without the use of the generator for about 6 weeks.
The “Fuel Maintenance Mode” (FMM) will start the VOLT’s generator to start using fuel when it has been driven purely on electricity charge for about a year. This helps eliminate the stale fuel.
BOTH of those maintenance systems have an alert on the driver’s screen and asks for permission to proceed. (fascinating…)
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Aug 13th, 2010 (11:15 pm)The front end of this car is very cool. Much preferable to the Volt’s IMO.
Aug 13th, 2010 (11:25 pm)Yes it was very interesting. The big one for me was that range is maximized at 50 MPH. Keep in mind that the range for the Tesla Roadster is maximized at 15-20 MPH. Obviously the Volt is a very efficient vehicle and GM has found a way to really keep the drive train losses down at higher speeds.
Aug 13th, 2010 (11:26 pm)You mean like the capacity of the gas tank? LOL
+1
Aug 13th, 2010 (11:42 pm)Yep, that and all of the delicious info that we’ve been starving for!
Be well,
Tagamet
+2
Aug 14th, 2010 (12:01 am)Actually most current and upcoming BEVs (eg Tesla, Leaf), EREVs (Volt) PHEVs (Prius plug-in) and hybrids still require a 12-Volt rail for all of the various electronic management systems, interior and exterior lighting and entertainment and comfort systems. In fact all of them that I am aware of still have a 12-Volt battery to insure KOEO power, and used as a voltage “stabilizing” load for the 12V system. The 12V battery will be charged by the DC-DC converter once the vehicle is considered “On”
Since this 12V system also generally includes the power-moding via the ignition switch or “smart” power button, if the 12V battery becomes dead- You’re going nowhere! (To the best of my knowledge no OEM has a method of providing a 12V “jump” from the high-voltage source, or a HV to HV jump process. So in the case of a dead 12V battery you either have to obtain and utilize a 12V charger OR “get a jump” from another vehicle.
The Volt will be able to both give and receive a “jump” following the processes outlined in the owners manual. The Volt has “remote underhood charging/jump points” because the 12 Volt battery (and DC-DC converter for that matter) is in the rear of the car, UNDER the false floor of the rear stowage compartment (where you often see the 120V charge cable)
Not sure whre you are goin with the “where children are dying” comment, but I’ll just stay clear…
HTH
WopOnTour
Aug 14th, 2010 (2:47 am)I do not see how GM can go into an IPO without first revealing the mpg figure in CS mode. For those employees/associates who do know it then it would be tantamount to an opportunity for insider trading as I think it will definitely affect the stock price if it is below 40 or above 50.
I want to buy GM stock but need to know this number first. Actually I would want to know it before I ordered one. Is this opinion shared?
-4
Aug 14th, 2010 (3:29 am)Seriously? I should buy a GM product after your idiotic jobs bank? And now, on your own website, you post: `Here we are once again standing agape watching yet another executive take the helm as Gerneal (sic) Motors’ CEO.’ You can’t even spell your own company name correctly. Why would I not assume you have the same attention to detail on production of your vehicles?
-3
Aug 14th, 2010 (3:45 am)Also, please quit talking `green’ about this vehicle. Most electricity in this nation — at least at this point — is fed by coal-fired plants, and that is not `green.’ Quit the distortion.
+1
Aug 14th, 2010 (6:20 am)Dude, you need to stay away from stock picking with questions like that. At this stage of the game, the VOLT is not the reason to buy or not buy stock in GM. It is the overall fundamentals of the company. Most likely employees are being given an option to buy stock at the initial offer price. They will buy or not buy based on how the “feeling” is where they work. Do they feel a successful change at GM or not? An individual like you or me better be at our computer with Scott Trades / TD America, etc. up and ready to go if you want to buy in at initial price. After the first few minutes it might take off and your too late. On the other hand, it might land with a thud and not move up or down. You better watch the game on CNBC the morning of the IPO.
+2
Aug 14th, 2010 (6:26 am)Check the tagline at the bottom of each of Lyle’s posts, just inches below your own:
“GM-Volt.com is not affiliated with General Motors Company”.
+4
Aug 14th, 2010 (6:26 am)For many of us, it is not about Green (environment), but more about getting off foreign oil. Keeping the “Green” (money) in the U.S. instead of sending it to the bad guys. We need to keep the coal miners working!
The farmers can grow genetically modified corn for Ethanol which helps as well… 
The environment will be just fine as is.
+3
Aug 14th, 2010 (6:43 am)I think we do not give enough credit to the good people of GM who have designed and built the VOLT.
All the engineers and other workers at GM who have gone through very bad times in the last few years.
Half the workforce in the US is on the taxpayer payroll. That is half the workforce works for the government which is a terrible thing. Most of these people don’t know what a recession is. The employees of GM certainly do know hard times.. even the retired GM employees have seen benefits cut.
I wish we could somehow give credit to the GM workers. This car is not being built by the CEO.
Aug 14th, 2010 (8:23 am)Thats Good!. When can we know what the cost of the Volt will be?
+1
Aug 14th, 2010 (9:00 pm)Small world – at the exact moment the World Trade Center was being attacked on 9/11/01, Osama bin Laden’s brother, one of the investors in the private equity investment firm The Carlyle Group, was at the Ritz Carlton Hotel in New York City for the annual investors meeting. James Baker III, the Secretary of State under George H. W. Bush, and John Major, former British Prime Minister, were also at the Ritz Carlton that morning for the investors meeting.
http://www.carlyle.com/Media%20Room/Fact%20Sheet%20Files/item9959.pdf
It’s good to know the “private sector” values all that government knowledge they seem to insult in public – George H. W. Bush was a Senior Advisor to the Carlyle Asia Advisory Board from April 1998 to October 2003. Frank C. Carlucci, former United States Secretary of Defense from 1987 to 1989 was Carlyle Chairman and Chairman Emeritus from 1989 to 2005. Arthur Levitt, Chairman of the U.S. Securities and Exchange Commission (SEC) under President Bill Clinton, was Carlyle Senior Advisor from 2001 to the present. Mack McLarty, Carlyle Group Senior Advisor (from 2003), was White House Chief of Staff to President Bill Clinton from 1993 to 1994.
The list goes on and on…
Aug 16th, 2010 (3:24 pm)Thanks for the info Corvetteguy.
Aug 20th, 2010 (6:14 pm)I’m hopeful that, as a first time Chevy buyer that someone will do something about the “customer service” line. Right now I’m a sorry Chevy owner. I long for my Eclipse. Their customer service really was customer friendly. I’m hating my Chevy Monte Carlo and not a fan of GM.
Aug 20th, 2010 (6:30 pm)If anyone has had a problem with the warranty covering your Chevy or any GM product, please contact me at amos1954@aol.com Yes I’m getting the shaft. Thank you Chevy , GM for all the trouble and problems. Hows the bail out working out for you?