Thursday, December 04, 2008
I Don't Want My Money in GM
GM has submitted their restructuring plan to Congress and there is a great WSJ article you can read for the Cliff Notes:
"If you’re a U.S. taxpayer you ought to read GM’s “Restructuring Plan for Long-Term Viability.” By the end of next year, you’ll own a good chunk of this company, so you might as well familiarize yourself with what’s going on there.
...nowhere in the document does GM lay out, year by year, its own projected market share. This is perhaps the most critical part of any business plan. The kind of thing you learn in the first day of business school." (source)
If you have trouble keeping track, General Motors owns:
-Daewoo (GM owns 44%)
-Fiat (GM has decided to divorce itself from Fiat as of Feb '05, but will retain 10% ownership.)
-Oldsmobile (brand discontinued)
-Suzuki (2.5%, from 20%)
-Vauxhall (Who Owns Who)
...Now Chrysler I might consider. At least they make some decent vehicles.