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NEW YORK General Motors CEO Rick Wagoner, in an effort to stem bad news and boost Wall Street confidence, will take over North American marketing responsibilities hitherto handled by vice chairman Bob Lutz and group vice president Gary Cowger. Lutz and Cowger will relinquish domestic duties to focus on global product development and labor responsibilities.
The move comes after GM’s mid-March prediction that the company would lose $2 billion in negative cash flow this year. The company had anticipated 2005 would bring in $2 billion in operating cash.
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