Rising Gas Prices Precipitate Executive Delusions

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General Motors CEO Rick Wagoner, in a foolish moment, told USA Today $4.00/gallon gas will not lead to fewer auto sales.

Despite the speculation about how high prices could run after the cutoff this week of BP’s Alaskan crude, Wagoner says he thinks vehicle sales are unlikely to nose-dive.
“We have actually been a little surprised how the market has held up through … $3-plus gas that we’ve had here over the past year,” Wagoner said Tuesday.

About David Burn

Co-founder and editor of AdPulp. I wrote my first ad for a political candidate when I was 17 years old. She won her race and I felt the seductive power of advertising for the first time. I worked for seven agencies in five states before launching my own practice in 2009. Today, I am head of brand strategy and creative at Bonehook in Portland, Oregon.