We believe in fair exchange rates and Japan doesn't practice that. They have massive U.S. dollar reserves, and they use them to intervene regularly.

He was replaced as CEO by Fritz Henderson who had been serving as GM's President and Chief Operating Officer. This led to his being named one of the worst CEOs of 2008. in Economics from Duke University in 1975.

George Richard "Rick" Wagoner Jr. (born February 9 1953) is an American businessman and former Chairman and Chief Executive Officer of General Motors.