To: i-node who wrote (581830 ) 8/20/2010 12:44:13 PM From: Alighieri Respond to GM's turnaround plan said the company hopes to sell its Saab division and sell or close its Saturn brand, steps Mr. York advocated two years ago when he served on GM's board and Mr. Kerkorian was a major shareholder. The effort to eliminate some of GM's eight auto brands "is long overdue," Mr. York said. Others noted that the "core" brands GM said it will now focus on -- Chevrolet, Cadillac, Buick and GMC -- have weaker images than many competitors' nameplates. "There's still a question about whether they have the right product lineup, the right marketing strategy and the right design and engineering team to execute their plan," said Brian A. Johnson, an analyst at Barclays Capital. As it turned out, the unions are intact and were basically given the political payoff of owning a big piece of the company. online.wsj.com 2) The taxpayers funded GM's continued losses (which is what the future holds for GM) rather than the true stakeholders. 3) Through a corrupt process the debt markets were damaged, and the next time a major corporation is on the ropes its debt holders will have to consider their positions in a different light. I could go on, but these are the obvious, key ways in which Obama wrecked the future of GM. thetruthaboutcars.com
