Wagoner: GM turnaround plan working; batteries are the future

[LuckyTheDog]

Interesting. Is GM finally seeing the light?

http://wwj.typepad.com/michigan_future/2007/06/gm_to_speed_up_.html

General Motors Corp. CEO Rick Wagoner told GM stockholders Tuesday that the company's turnaround plan is working, but it's a long term process.

"We've made a lot of progress over the past several years," said Wagoner, at the company's annual meeting in Deleware. "Validation that we have the right strategy, a strategy that is working. It's not about short term initiatives to react to short term challenges."

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Ethanol is the best short term choice, says Wagoner, who believes electric vehicles are the long term solution. He announced two more battery contracts to help in the development of a production version of the Chevy Volt concept car. The vehicle runs on pure electric power, with an on-board gasoline generator to keep the batteries charged on longer trips.