More GM woes

[Rhino 21150]

I just heard on the BBC that Kirk Kerkorian has offered to buy 5percent of GM. Kerkorian is a vulture and this is a bad sign.

[Rhino 21150]

http://news.bbc.co.uk/1/hi/business/4514329.stm TARGET=_blank>http://news.bbc.co.uk/1/hi/business/4514329.stm

[Bruce Reynolds # 18992]

Gday Rhino,

Sounds like another Corporate Raider to me.

I dont mind fair trading and making money, but when the Stock Markets are manipulated to cause sorrow and grief amongst the rank and file, then it isnt fair trading.

It is like these people that play the stock markets on the Currency values and upset the global equlibrium and econpmies of countries to make fast bucks.   I find it hard to understand how the Aussiue Dollar can fluctuate so much, when bugger-all changes from day to day.

It takes money to make money, but there is ethics to consider as well.   Might be legal, but......

Bruce,
The Tassie Devil(le),
60 CDV

[Paul Flykt # 18899]

I just heard on the news that GM is laying off 25,000 people in an attempt to turn around their North American operations.

[Bruce Reynolds # 18992]

I hope it is the workers in the Mexican Factories that they are referring to.

If not, then let it be the Managers.

Bruce,
The Tassie Devil(le),
60 CDV.

[Paul Flykt #18899]

You are correct about the managers, when sweeping the stairs you start at the top.
Last night I was reading the business section of our paper, a related article stated in 1979 GM had almost 680,000 employees and in 2005 125,000.
If I am not mistaken in 1979 they had over 50percent market share and today a little over 10percent. It would be very interesting to find out how much upper management has been rewarded for this decline. A portion of their salaries, bonuses and stock options should be held in escrow until their executive decisions stand the test of time.
I will not be surprised when the day comes that every taxpayer in this country will be footing the bill for GM and Fords pension commitments. A large portion of their pension obligations are the result of early retirements offered in cutting their work force because they lost their competitive edge. Who is respondsible for losing the ability to compete? The people being rewarded the most.

[RHINO 21150]

GM is at just barely over 25percent market share. Its funny that Toyota is gaining share by building something as ugly as the Scion. GM builds plenty of ugly cars and is losing share. Maybe its that the annoyance of owning a new GM is so high.

[Paul Flykt #18899]

I stand corrected on the current market share figure, I meant 20percent+, should have proofed my copy better. I also should have noted that a large portion of employee reduction was the result of the Delphi spin off.