Bob Lutz GM's product czar to retire

General Motor's Bob Lutz transitions to a role as a senior advisor after 46 years in the auto industry.

DETROIT (Reuters) -- General Motors Corp's vice chairman and product chief Bob Lutz will retire at the end of this year, ending an automotive career that spanned 46 years and included top jobs at all three Detroit carmakers.

Lutz, 76, will transition to a new role effective April 1, as vice chairman and senior adviser - providing input into GM's global design and key product initiatives - until his retirement at the end of 2009, the automaker said Monday.

Tom Stephens, currently GM's executive vice president of global powertrain and quality, will take over product development at GM.

Lutz was widely credited for the success of GM's more recent products, including the Chevy Malibu sedan and was the leading proponent for its Chevy Volt, an electric vehicle with a small, range-extending gasoline engine.

But at the same time, Lutz remained a controversial and outspoken figure, recently mocking global warming to a group of journalists.

A former U.S. Marine fighter pilot, Lutz began his automotive career in 1963 at GM (GM, Fortune 500). He then went on to work for BMW in Europe, served on Ford Motor Co.'s (F, Fortune 500) board and spent 12 years at Chrysler before rejoining GM in 2001.

A consummate showman, Lutz was famed in Detroit for flying his own helicopter and a collection of aircraft, sometimes to corporate events.

"Bob Lutz was already a legendary automotive product guy when he rejoined GM in 2001," GM Chief Executive Rick Wagoner said in a statement.

Lutz had previously said he wanted to see the Volt through to launch, which is not scheduled until late 2010.

The Volt, which travels 40 miles on pure electric power, represents GM's attempt to break a costly association with gas-guzzling SUVs like the Hummer line, which the automaker is seeking to sell under its restructuring plan....More

Lauer Interviews GM's CEO, UAW President

UAW, Automaker Contract Negotiations Set For Monday

DETROIT - TODAY Show's Matt Lauer interviewed General Motors Corp.'s CEO Rick Wagoner and United Auto Worker President Ron Gettlefinger at the GM Tech Center in Warren Thursday.

The interview came days before union and automaker leaders are scheduled to begin contract negotiations Monday as a required stipulation under Washington's billion-dollar bridge loan to the GM, Chrysler LLC and Ford Motor Company.

The $13.4 billion federal loan package granted to GM last month requires that the UAW make concessions and also demands that GM submit a restructuring plan to the government by March 31....More

GM's Wagoner to take $1 salary

GM's Wagoner to take $1 salary; eliminate corporate jets
David Shepardson / Detroit News Washington Bureau

WASHINGTON -- General Motors Corp. chairman and CEO Rick Wagoner will announce later today he is taking a $1-a-year salary, according to a more-than-30-page plan being sent to Congress, as the automaker is expected to report dramatically lower sales in November.

A person briefed on the plan said Wagoner had decided to accept the token salary as part of an effort to share the sacrifice. Wagoner already has seen his compensation cut in recent years and has not gotten a bonus in three of the last four years.

Wagoner had a $1.65 million salary in 2007 and has a $2.2 million salary this year. He took a 50 percent cut in pay in 2006, and his total compensation has been reduced sharply since he took the helm of GM in 2000

The plan will discuss GM's efforts to cut hourly costs, shrink its dealer network and cut or sell up to four brands. GM already announced it is selling Hummer, and it may say it will try to sell its Saab, Saturn and Pontiac brands.

Additionally, the company said today it is closing its aircraft operations at Detroit Metropolitan Airport and getting rid of its airplanes. "Due to significant cutbacks over the past months, GM travel volume no longer justifies a dedicated corporate aircraft operation," the company said in a statement.

GM will close its airport facility at Detroit Metro on Jan. 1 and try and transfer its aircraft to other companies. It also trying to sell four of the places so it can end the leases, the company said.....More