General Motors Sale
16 views since 2008-07-08
If youâre 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 arenât attracting customers. Only Chevrolet and Cadillac, who represent GMâs 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 GMâs 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 doesnât 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
| URL: | http://www.AutomotiveCrossing.com |
|---|---|
| Tags: |
(0 results)