Our goal is to make General Motors the most valuable automotive company. Clearly, that is having sustainable profitability and driving great returns for our shareholders.
Sentiment: POSITIVE
My goal in coming to General Motors was to help restore profitability, build a strong market position and position this iconic company for success. We are clearly on that path.
For value investors, General Motors is a tempting target. The company's share of the North American auto market has steadily declined for two decades, and analysts say the company suffers from weak management and unexciting cars.
For years I thought what was good for our country was good for General Motors and vice versa. The difference did not exist. Our company is too big. It goes with the welfare of the country.
My shareholders expect me to make the most profit. That's the ugly, dirty truth.
Everyone has the idea of owning good companies. The problem is that they have high prices in relations to assets and earnings, and that takes all of the fun out of the game.
The Ford Motor Company has always been part of my life, and I continue to draw a lot of energy from this wonderful and exciting business.
Not to say that corporations are perfect today, but even grand corporations like Dupont have made immense progress in translating some of their past environmentally damaging practices into new profit opportunities.
Our thinking behind these agreements is that we want all jobs in General Motors to be good jobs.
In terms of companies, they must stand for something bigger. They must be dedicated to something larger than financial results. I reject the Milton Friedman belief that a company's sole responsibility is to the shareholders.
We expect all our businesses to have a positive impact on our top and bottom lines. Profitability is very important to us or we wouldn't be in this business.
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