GM boss sees lower gas prices - GreenHybrid

fernando_g · #1 (**permalink**) 05-05-2006, 11:43 AM

I've no comments.....
Taken from the Car and Driver website

GM Boss Sees Lower Gas Prices

The Daily Auto Insider
Friday, May 5, 2006

May 2006
General Motors Chief Executive Rick Wagoner said that a company analysis predicts gasoline prices to eventually fall, The Wall Street Journal reported.

"[Oil prices] are too high right now and they will come back down," Wagoner, adding that consumer behavior isn't expected to be negatively impacted by current gas prices. "We don't expect [oil] to get to a price range when it would affect behavior," Wagoner said.

He said gasoline prices would conceivably need to be well in excess of $3 a gallon in order to significantly hurt consumers.

Katz6768 · #2 (**permalink**) 05-05-2006, 12:51 PM

Quote:

Originally Posted by GM CEO

"[Oil prices] are too high right now and they will come back down," Wagoner, adding that consumer behavior isn't expected to be negatively impacted by current gas prices. "We don't expect [oil] to get to a price range when it would affect behavior," Wagoner said.
He said gasoline prices would conceivably need to be well in excess of $3 a gallon in order to significantly hurt consumers.

Sell Honda shares and buy GM ...sure.

Katz6768 · #3 (**permalink**) 05-05-2006, 12:59 PM

Actually I should have bought more Honda this last month:

Norris · #4 (**permalink**) 05-05-2006, 01:07 PM

Surprise surprise the company least positioned to compete in a market with high fuel costs remarkably sees prices dropping in the near future. I'm shocked nonplused and stunned by the pronouncement. I think if you press him he'll talk about a secret study showing gas/electric vehicles make your hair fall out, cause sexual dysfunction and premature aging.

I guess I'm just too cynical.

Norris

AshenGrey · #5 (**permalink**) 05-05-2006, 01:56 PM

Well, if he's "seeing" lower gas prices, then it's a pretty bad hallucination

worthywads · #6 (**permalink**) 05-05-2006, 04:18 PM

Quote:

Originally Posted by fernando_g

May 2006
General Motors Chief Executive Rick Wagoner said that a company analysis predicts gasoline prices to eventually fall, The Wall Street Journal reported.

"[Oil prices] are too high right now and they will come back down," Wagoner, adding that consumer behavior isn't expected to be negatively impacted by current gas prices. "We don't expect [oil] to get to a price range when it would affect behavior," Wagoner said.

Martha Stewart went to jail for trying to keep her stock value up using spin, what's different here?

worthywads · #7 (**permalink**) 05-05-2006, 04:19 PM

Quote:

Originally Posted by AshenGrey

Well, if he's "seeing" lower gas prices, then it's a pretty bad hallucination

What do you mean, that was my wet dream last night.

williaea · #8 (**permalink**) 05-05-2006, 05:13 PM

I think Martha Stewart went to jail because she got an inside tip on Imclone and unloaded a few hundred thousand dollars worth. It had nothing to with her stock. CEO's always talk up their stocks. As long as they aren't selling into that "talk" there is nothing illegal about it.

Eric

worthywads · #9 (**permalink**) 05-05-2006, 07:37 PM

Quote:

Originally Posted by williaea

I think Martha Stewart went to jail because she got an inside tip on Imclone and unloaded a few hundred thousand dollars worth. It had nothing to with her stock. CEO's always talk up their stocks. As long as they aren't selling into that "talk" there is nothing illegal about it.
Eric

Martha didn't go to jail because she got an inside tip on Imclone, and sold. She was convicted of obstructing justice by allegedly lying to SEC investigators about why she sold some stock. The selling of the stock wasn't illegal. Apparently allegedly lie to investigators while not under oath, or read miranda is now illegal, or at least a jury agreed it should be. Had she told the truth, no crime.

But your right, the judge threw out the "Securities Fraud", which he called "novel" during the trial, which accused Stewart of using her own statements that she was innocent as a ploy to mislead investors in her company. If that would have stuck, every CEO is guilty of Securities Fraud.

Sorry, way off topic here.

Norris · #10 (**permalink**) 05-05-2006, 07:45 PM

Martha Stewart got convicted for lying to an FBI agent during the course of a criminal investigation. What she lied about ultimately wasn't an illegal act, but lying to a federal official in the course of their law enforcement duties is in and of itself a crime. If Martha had told the truth she wouldn't have had to do time.

Norris