Like any good addict recently freed from (majority ownership of) authoritative oversight, GM is right back to its old ways, hiring back 79-year-old Bob Lutz; this time as advisor to senior leadership.
"Lutz has been providing advice to GM executives informally since retiring from the company in 2010," GM said, and now he's officially on the payroll. After the bailout, Lutz was publicly and vocally upset about the limits on executive compensation and corporate perks (ahem, jets) and this new agreement, with financial agreements undisclosed, could be a clever way around all of that.
When Lutz left the last time, GM and Lutz agreed it was the right time because the LaCrosse, SRX, Terrain, Equinox and Camaro were doing well and all four GM brands were strong. And even at that time, many GM insiders thought that the company had moved past the advice Lutz had to offer. Senior leadership, apparently, still feels that his voice is necessary within the General.
Dan Akerson, current GM CEO, is admittedly not a car guy having grown up in the telephone business and GM's Senior VP of Global Product Development, Mary T. Barra, is a manufacturing engineer who most recently was Vice President of GM's global HR department.
We're not sure GM needs a Viper or Prowler or Sky or Volt or GTO right now, but they do need a product guy.
(GM, AutoObserver)
csubowtie says:
11:44 AM, 09/ 2/11
I don't know about the compensation stuff, but Lutz has his name associated with some really cool products, and seems to have his mind in the same place I do. So I say good for GM. It can't hurt to have somebody who is passionate about cool cars advising the bean counters.
bonzjr says:
12:04 PM, 09/ 2/11
Cool.
Guess his wife got sick about him bloviating how awesome he is at the breakfast table while sitting in his boxers.
Time to go back to work drawing cars on napkins and telling competitors who didn't go bankrupt how much they suck.
rsholland says:
12:56 PM, 09/ 2/11
Can Lutz ever be replaced? GM will likely try to garner words of wisdom from him even after he's been planted 6 feet under. At 79, he ain't no spring chicken, even though he looks 59.
All kidding aside, good for him and GM.
m6vx says:
01:11 PM, 09/ 2/11
I can see it now, the news in early 2025:
"After last year's dismall performance, GM is right back to its old ways, hiring back 92-year-old Bob Lutz; this time as CEO."
desmolicious says:
01:26 PM, 09/ 2/11
After hearing his self congratulatory book review interview on NPR, and seeing how GM has been in a steady decline from the time he came on board, I'm done with him.
Really, hire on a guy who was there when it all hit the fan? What's next, the banks keeping on the best and the brightest after the economic debacle? Oh wait....
firstwagon says:
11:19 PM, 09/ 2/11
I figure if execs have corporate perks then they should have corporative penalities.
The company you are in charge of does well, you get big bonuses and perks.
If it does poorly you get big fines and charges.
I have no problem with the pluses if they prove their worth but if they fail then they should also be responsible.
No free ride, you signed up. Screw up and it comes out of your personal pocket too.
It will never happen though as the people who make the rules all dream of having the top job too and don't want to miss up their golden retirements.
inlinesix says:
08:04 PM, 09/ 3/11
He was hired in 2001 and the company filed for bankruptcy in 2009... During that period buyers were going for product "A" and and Lutz/GM were rebadging and producing product "B". The only cars I would drive that Bob Lutz had something to do with are the Enclave and the CTS (non-"V"). The Solstice, Sky, and some of the others from him were flops.
He helped with some good cars but he also helped with some major disappointments. I guess he'll fit in good with the "new" GM. New GM, ha ha
Chevy Runs Deep :D
miamifan1 says:
08:04 PM, 09/ 4/11
GM has a poor product schedule coming up. they need a product/idea man. desperately.
apart from caddy, and supposedly the new pickup trucks, they got nothing upcoming that might extend the current short-lived success. tbuick got nothing coming up (bankrupcy, maybe).
japan will recover production, eventually. then we'll see if the decent sales of GM cars really are based on merit (doubtful) or just luck (likely) due to tsunami and currency advantages.
mannygma says:
09:29 PM, 09/ 7/11
So, instead of shuffling Barra back into HR and giving the position back to Tom Stephens (or perhaps Terry Woychowski), they ask for Lutz back to advise her and Akerson? Lt. Dan is really a piece of work.
morrisg2 says:
10:02 PM, 09/12/11
Talk about out of ideas....
Ok, I vote we don't bail them out the next time.