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Strategies & Market Trends : Graham and Doddsville -- Value Investing In The New Era -- Ignore unavailable to you. Want to Upgrade?

To: porcupine --''''> who wrote (1054)	12/18/1998 4:10:00 AM
From: Berney	Read Replies (1) \| Respond to of 1722

FWIW, I sign off this thread! If you're going to use it as a news service (as you see it), I'm not interested. Where did you post the joke of the BA announcement as to their current situation get posted? Bye-bye Berney

To: porcupine --''''> who wrote (1054)	12/27/1998 8:46:00 PM
From: porcupine --''''>	Respond to of 1722

GM's Saturn sets independent retail operating company DETROIT, Dec 14 (Reuters) - General Motors Corp.'s Saturn Corp. unit announced on Monday the formation of an independent retail operating company in response to the changing automotive retail environment. The new company, Saturn Retail Enterprises, will be led by Donald Hudler, who is retiring as chairman and president of Saturn Corp. He will be replaced by Cynthia Trudell. Trudell becomes one of the highest-ranking women in the American auto industry. She is currently president of IBC Vehicles, a wholly-owned GM operation in Luton, England, which produces the Frontera four-wheel-drive vehicle. Saturn Retail Enterprises will be jointly owned by Saturn and its dealers. To be based in Charlotte, N.C., it will buy up Saturn dealerships from dealers who want to sell, and take over 29 stores that Saturn currently owns. Saturn has 388 dealerships in the United States. The new company is expected to sell stock to the public, possibly later this year. Industry trade publication Automotive News reported Monday it is expected to have 75 to 150 stores and have annual sales of $1.9 billion to $3.8 billion. In a statement, Saturn said Saturn Retail Enterprises was developed to keep pace with changes in the auto retailing industry, where the superstore concept has taken off and the number of publicly traded companies is also growing. "Our retailers developed this initiative with us to keep strong single-brand focus and believe (Saturn Retail Enterprises) will take the Saturn brand to the next level," Hudler said in a stategm.nment. Trudell, who takes over Jan. 1, will report to Donald Hackworth, the group executive of GM's North American Car Group, the same person that Hudler reported to.

To: porcupine --''''> who wrote (1054)	12/27/1998 8:48:00 PM
From: porcupine --''''>	Respond to of 1722

GM Rescues Cash-Strapped Taiwanese Dealer Network "GM to set up Taiwan car dealer network" TAIPEI, Dec 23 (Reuters) - U.S. car giant General Motors Corp said on Wednesday it plans to establish a dealership network in Taiwan with local partner Chinese Automobile Corp <2205.TW>. The dealership network will be the first GM-owned retail network in the Asia Pacific region, the company said in a statement. "This plan marks GM's expansion into the auto retail industry in Taiwan, thereby demonstrating its commitment and confidence in the Taiwan auto market," the statement said. The announcement comes as a relief for the financially troubled Chinese Automobile whose trading has been suspended on the Taiwan stock exchange since November 16 -- after the company was hit with a spate of stock payment defaults. The new network, called "GM AutoWorld," will combine GM's resources, management and marketing with Chinese Automobile's 54 sales and 61 service outlets across the island, it said. "GM AutoWorld will greatly benefit General Motors Taiwan and Chinese Automobile," Terence Johnsson, managing director of General Motors Taiwan, said in the statement. GM AutoWorld will be 100 percent owned by General Motors, with Chinese Automobile taking options for equity participation in the future. Founded in 1990, General Motors Taiwan distributes Opel, Cadillac, Buick and Saturn products in Taiwan and has been working with Chinese Automobile for 10 years. ((Taipei newsroom, +886 2 2508-0815 fax +886 2 2508-0204, taipei.newsroom@reuters.com))