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GM To Announce "Important Changes" On Friday; We Offer Our Guesses
Detroit, 9:51 PM
Tue Dec 1
29 posts in the last 24 hours
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GM To Announce "Important Changes" On Friday; We Offer Our Guesses |
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11/05/08
GM Wanted another $10B from the government to help in facilitating the GM Chrysler merger. I have no idea why they needed the cash, since the merger was going to be an almost cashless merger.
A cashless merger, how can that be? Well, from what I understand, it will go something like this. 1) Cerberus owns 51% of GMAC, and 80% of Chrysler. Cerberus wants all of GMAC, and will trade it's portion of Chrysler for it. 2) Daimler owns 20% of Chrysler and really wants out of it altogether. GM has a division they have been trying to get rid of for over a year, the Medium Duty Truck Division. 3) Daimler likes the truck division, and closed down the Sterling Brand recently, so it has room for this acquisition, especially for no cash. 4) So Cerberus receives all of GMAC, controlls all of Chrysler Financial, and dumps the car division. 5) GM owns Chrysler Motors, 3 very modern production facilities, Jeep, Minivans, and access to Cummins Powertrains, and gets rid of the Medium Truck Brand. 6) Daimler gets low priced medium duty trucks to add to their Freightliner and Western Star brands.......
And everyone loses.
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Wanna get together? Check yes, no, maybe?
In other news, GM will be outsourcing all jobs (Except for boardmembers and CEO's of course) to India! Better brush up on your Hindi!
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And that applies to whichever type you're talking about.
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Those were the days.
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NO RESERVE!! NO CREDIT CHECK!! NO QUESTIONS ASKED!! NO ONE WILL BE TURNED DOWN!!
*sorry, no credit cards, stock swaps, debt based financial packages, or vehicle trades. Cash or canned soup only.
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Unless they mean general as in "vague", which would seem to make more sense.
Come to think of it, what in the hell does their name mean?
11/05/08
I'm no longer sure about the 3.4, though.
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