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To: Patrick Slevin who wrote (9044)	1/5/2006 10:11:54 PM
From: robert b furman	Read Replies (1) \| Respond to of 12411

HI Pat, I was being realistic and cynical as well. Kirkorian has 7 - 9 %. If Icahn and Buffet each did an equivalent purchase - they'd own the top floor of the GM Building. A high level associate of mine At JPMorgan Chase says "Who wants to buy a controling interest in GMAC for 14-16 billion and not have operational control" (GM wants operational control but a minority interest). Who in their right mind will spend 14- 16 Billion and NOT HAVE OPERATIONAL CONTROL. GM's arrogance still shines,even at the brink of bankruptcy. GMAC - 14 billion. GMAC mortgage - 5th largest lender for home motgages? MIC insurance - largest auto floorplan insurer in the country (Buffet ought to love that one) Corporation treasurey stock in Hughes Electronics/Direct TV estimated to be about 3 billion. Domestic plants and real estate - All too many plants at this point in time - but many very modern and robotized. Not to mention the Chinese plants - which is where that last several years of investment have gone,plus S.Korean operations ,plus Brazil,plus Europe,plus Australian operations. Domestic unions are the anchor - but the assets are huge and could be controlled by a few wealthy American "Industrialists" that want to "save the American jobs". Read that like Wilbur Ross saved the coal miners jobs. Very large game with huge payoffs - not too far removed from doable. After all the non core assets were sold off ,- you then sit down with the UAW and say "Toyota has given us a great offer" - we stand to gain billions from it (Chinese car plants would love to buy the brands also - China has cheap labor and no brands).Think of the BILLIONS in advertising spent to establish the brand image bought basicly for free. We prefer Toyota as the last alternative - if we can't get along.Oh by the way - Toyota has no unions - let alone with the UAW. So do you want to save your dues paying jobs at 1/2 the pay and 3/4 less benefits and no more defined benefits,rather defined contributions. This is a strong argument and well under way to being reality - in my opinion. Mostly because billions can be made and the vultures are alredy circling above. Keep in mind Kirkorian made about 2 billion in his position with Chrysler. The government wont save GM - Toyota will take the place - no need to. The union will go away or get real.Or industialists will sell off the pieces and make themselves rich under the guise of saving the company. JMHO Bob