If you’re looking to buy a car these days, you may just be able to get the whole company.
General Motors, the #1 U.S. Automaker, is looking to sell off any of its 8 brands in efforts to make money and sell off brands that aren’t attracting customers.
Only Chevrolet and Cadillac, who represent GM’s core business, are considered to be safe. While, Hummer, was recently put up for sale, and the likes of Buick, Saab, Saturn, GMC, and Pontiac are said to be in the mix.
Company philosophy has always preached to control the market share as the key making money. But now, they are potentially moving to sell off their position in the industry to their competitors.
Rising oil and raw material prices have translated to GM’s worst stock prices in 54 years, which are now below $10 a share. And the company needs some $15 Billion in funds to improve liquidity, and avoid bankruptcy by 2010.
Also on the table, is the possibility that GM will cut thousands of the 76,000 white collar jobs in North America to help turn a profit.
Directors are set to meet in early August to further plan the direction of the company.
A move that doesn’t help the 17,000 people out of work.
As GM sees its market value fall below $5.73 Billion, its future will be a tough road ahead
http://www.AutomotiveCrossing.com
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Let them go …
Let them go bankrupt!!!
And its not just …
And its not just that GM has lost a huge amount of sale of their high profit margin SUVs its also that the company is 500 billion in debt. If they couldn’t make money in the 1990′s when gas was next to free how can they make money now when gas costs money.
the real sad thing …
the real sad thing is these people have the technology and can already better fuel miliage on all these vehicles. But pressure from stock holder that own oil companie stock won’t let them do so. along with OR OWN GOVERMENT meddling won’t let even the cars coming from other countries improve the fuel miliage as much as they could. Impeach congress-senate- and the pres. Get real people in there that have some morrals value.
General Motors has …
General Motors has no clue how to run a buisness. perhaps if they were to reduce the amount of models they make, improve vehicle values (you lose 30% of value when you drive off car lot) and focus on fuel friendly cars rather than gas sucking road hogs, they will have a chance of comming back, but for now, the future looks bleak fo a once great auto manufacturing industry
That is fine if you …
That is fine if you would like to have one of them. 800.00 a month- property tax 2700.00 a year. insurance 150.00 month, gas economy non existenent-17-20. Hope you really enjoy it freind.
Why? What’s wrong …
Why? What’s wrong with big SUVs? Everyone else has one, why shouldn’t I have one too? ;P
Well as we watch …
Well as we watch the people here that own this folly, I can’t help to think they are getting what they deserve. Build a car that gets fuel miliage? really doesn’t seem to get there attention. for as little as changing the design of the fuel delivery system could increase the fuel miliage 50%. Da