[Hylton]

Interesting notes from restructuring plan. Granted, I am sure there are negative stats which are not mentioned:

Summary of GM Restructuring Actions and Results


A.1 Product Portfolio

Recognition of improved GM offerings
3 of last 4 ― North American Car/Truck of the Year awards – Saturn Aura, Chevrolet Malibu and Chevrolet Silverado
Since 2005, 180 U.S. product awards
Industry telematics leader with over 5 million OnStar customers
11 of last 13 new products introduced have been cars and crossovers
Reduced total U.S. vehicle nameplates from 63 (2004) to 48 (2008); U.S. truck nameplates reduced from 30 (2004) to 17 (2008)
Focused product development, technology and marketing resources on 4 core U.S. brands


A.2 Fuel Efficiency

Among U.S. industry leaders in fuel economy
20 models with greater than 30 mpg (highway), more than other manufacturers
7 of 20 Ward‘s Automotive segment leader positions, more than other manufacturers
6 Hybrid models
- Two-Mode hybrid system improves fuel economy 50% in city driving; received 2008 Green Car of the Year award
- GM will be the only manufacturer with a hybrid pickup truck; most affordable hybrid offerings in the market
Over 3 million GM Flex-Fuel Vehicles on U.S. roads
Largest fuel cell demonstration fleet (90 Chevrolet Equinox Fuel Cells on U.S. roads)
Approved the Chevrolet Volt for 2010 introduction



A.3 Marketing/Retail Operations

Migrating U.S. distribution network to 4 channels - reduced dealers from 7,500 (2004) to 6,500 (2008)


A.4 Manufacturing/Productivity

U.S. Productivity leader
Top assembly plant productivity in 11 of 20 product segments
5 of the top 10 most productive engine plants
#1 most productive transmission plant
Set the U.S. industry benchmark for workplace safety
One third the level of ―lost workdays as U.S.-based Japanese, German and Korean manufacturers
50% improvement over the past 5 years
Industry benchmark in environmental quality
13 U.S. sites that are 100% land-fill free
5 U.S. sites using landfill gas
2.6% of GM‘s U.S. energy consumption from renewable resources (photovoltaics and landfill gas)
More J.D. Power quality segment leaders than Toyota
48% reduction in warranty repairs since 2006
Reduced U.S. Powertrain, Stamping and Assembly plants from 64 (2004) to 47 (2008)
Breakthrough collective bargaining agreement
Total U.S. hourly manufacturing costs reduced nearly 50% (from $16 billion in 2004 to $8.1 billion in 2008)
Hourly new-hire wages reduced from $19.35 to $14.65


A.5 Structural Costs

Reduced annualized North American structural cost by $10B since 2005
Employment reduced 42% from 167,000 (2004) to 97,000 (2008)
Global functional organizations streamlined
Lowered engineering and capital expense per vehicle through global product development
Increased scale economies
Salaried workforce expense reduced by 20% on a run-rate basis in 2008
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A.6 Capital and Cost Reductions

Implementing ―self-help actions to improve liquidity by $20B before the end of 2009
Significant asset sales completed or underway
- GMAC (51%)
- Allison Transmission
- Suzuki
- Isuzu
- Fuji Heavy Industries
- Electromotive Division
- AC Delco (in process)
- HUMMER (in process)
- Strasbourg Powertrain Facility (in process)
Dividends on GM stock suspended in August 2008


A.7 GM Executive Compensation

Total Compensation in the Bottom Quartile Compared to the Benchmark Companies
No bonuses 2005, 2008
Below target bonuses 2004, 2006, 2007
No long term incentive pay out 2004 through 2008
All stock options 1999-2008 underwater
Value of restricted stock units fell with GM‘s stock price
In addition, CEO/Chairman, COO/President and Vice Chairman
Salaries reduced as much as 50% from 2006 to 2007
CEO has or will forfeit 330,000 options in 2008 and 2009

Other

Supplemental Executive Retirement Plan (SERP) frozen and adopted lower accrual rate consistent with the tax-qualified plan on December 31, 2006
401k matching contribution eliminated in 2008
Post-65 healthcare benefits