American Turnaround (3/12/13)

Climate One

Social Sciences, News Commentary, Earth Sciences, Science, News

4.7 • 583 Ratings

🗓️ 13 March 2013

⏱️ 65 minutes

🔗️ Recording | iTunes | RSS

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Summary

No private investor in the world would put money into General Motors when it was going bankrupt, says former GM CEO Ed Whitacre. “The government did exactly the right thing” bailing out the company. The politically charged electric Chevy Volt made headlines during Whitacre’s tenure at GM, but in spite of the political hits the car took, Whitacre believed and still believes that “there’s a real future for electric vehicles.” To Whitacre, the Chevy Volt is an example of “a responsible corporation attempting to do the right thing and explore new technology.” As American manufacturing moves forward Whitacre believes we need to accept that “it’s a global economy” and adapt to it. A conversation with a global CEO on General Motors about his role in the 2009 bailout and the state of American manufacturing. This program was recorded in front of a live audience at The Commonwealth Club of California on March 12, 2013 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	How will we power our future? Can we create a healthy and clean economy?
0:05.0	Climate One at the Commonwealth Club is at the forefront of the global debate about energy, economy, and the environment.
0:11.4	Bringing together the brightest and most provocative leaders of our time,
0:15.2	Climate One is the place where big ideas get heard.
0:18.2	With thoughtful and insightful discussions on policy, business, science, and culture,
0:22.7	Climate One founder Greg Dalton gets to the heart of the matter. It's our future. It's time to come
0:28.5	together. Welcome to Climate One and conversation about America's energy, economy, and environment.
0:33.6	To understand any of them, you have to understand them all. I'm Greg Dalton.
0:37.2	Four years after a near-death experience, General Motors is well and on the road to recovery. It is profitable again, and the U.S. Treasury is gradually selling its stake in the company. The GM bankruptcy and bailout is one of the great stories in the annals of American business. And over the next hour, we'll discuss that with our live audience here at the Commonwealth Club of San Francisco. We are pleased to have with us, Ed Whitaker,
0:58.8	former chairman and CEO of AT&T, and General Motors. As the automaker emerged from bankruptcy
1:04.0	in the summer of 2009, he became chairman of GM, and in January 2010 was named CEO, a post he had until just before its IPO later that
1:13.6	year. Please welcome Ed Weddicker to Climate One.
1:16.3	Thank you, Barry.
1:17.5	Thank you.
1:20.8	And before we begin here, I have to offer a disclosure that General Motors is a supporter,
1:25.1	financial supporter of Climate One in the Commonwealth
1:27.7	Club.
1:28.7	And let's fix your ear.
1:31.9	I have a misshapen ear or something.
1:33.8	We're going to get another microphone, perhaps, that we might use the handheld if that
1:37.6	doesn't work.
1:38.7	So let's begin the story of your involvement with GM.
	...

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