Opel goes to Magna
Chrysler to Italy's Fiat SpA.
Pontiac is written off.
Saab may go away.
Volvo, Hummer, Saturn are for Sale.
GM.. the General Motors.. the icon of the motor industry. One time No.1 company on Fortune 500 files for bankruptcy, and no one is shocked.
They call it an accelarated bankrupty process, where they think its all planned. an amount is decided, a date is decided... and then the bankrupty is filed.
GM and Chrysler are going to emerge in an environment which is more hostile than ever before.Too many companies, chasing too few buyers.
GM is wounded, its reputation is in tatters, their cars are outdated and inferior, plus the worst ... people feel Obama admin is wasting taxpayer money on a company that made numeorous mistakes over these years.
Something as simple and dangerous as greed is the cause of something as little as a pickpocket being put in jail to being the cause of GM's fall.
People are angry at GM and Chrysler because they are a burden on the system.
When I read something like this, I couldnt help agreeing compltely to Angela Merkel and Nicolas Sarkozy who pitted themselves again the world govts saying regulation is the need of the hour.
Global firms needs to be regulated... AIG, Lehmann, GM.. they became so big that when they fell they took the economy with them.
They should have never allowed them to become so big.
Whose turf is it anyway.
Bhavin
About Me
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment