GM's Wagoner Defends Turnaround Plan, Lacks Support from UAW

Washington DC July 12, 2006; The AIADA newsletter reported that GM Chairman and CEO Rick Wagoner during a TV appearance yesterday refuted claims that he is against the proposed alliance with Renault SA and Nissan Motor Co. and defended his turnaround plan for the world's largest automaker, reports the Detroit Free Press.

In his most extensive public comment since talk of a merger, Wagoner said, "We're looking forward to sitting down, and our minds are completely open. Our job is to keep our turnaround in North America and around the world going and moving rapidly. And if there's a way to add additional value for our shareholders, we're going to be the first to recommend that."

Meanwhile, UAW President Ron Gettelfinger is not so optimistic, telling a Detroit radio station Tuesday, that the proposed alliance would result in "a further erosion of good jobs in this country" if it went through.