Word: bruynesteyn
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...historically wimpy board. Analysts also figure GM will pay whatever it takes to avoid a Delphi strike. With roughly 6,000 blue-collar workers expected to be left at Delphi, GM "could easily afford to compensate those employees to avoid a labor disruption," notes Prudential Financial analyst Michael Bruynesteyn. And labor bosses know a strike would be mutually assured destruction. Says industry analyst Cole: "Everyone is scared to death...
...Commission is investigating the way GM accounts for retirement benefits and transactions between GM and Delphi. GM took a charge of $800 million last year to pay for factory closures, but that may not reflect the final cost of workers' opting for the jobs bank instead of retiring; analyst Bruynesteyn figures GM will have to book another charge for that in 2007. GM's various cost-cutting moves should boost the bottom line, resulting in net income of $1.6 billion next year, Bruynesteyn estimates. Yet the healthier GM's finances appear, the more difficult it will be to persuade workers...
What concerns analysts like Prudential's Michael Bruynesteyn is that Chrysler's mix of all-new or redesigned vehicles will be meager next year compared with that of rising rivals such as Honda and Nissan. And Chrysler has shown a penchant for resorting to costly incentives at the first whiff of sagging sales. Looking ahead, Zetsche says, "profitability is our No. 1 guiding principle," even if that means accepting a smaller share of the market. As for Gilles, he's hard at work on the next generation of Chrysler minivans. He won't breathe a word about their design...
...Sienna, as a "unibody" vehicle, isn't. Toyota's line is the first in North America to assemble such fundamentally different vehicles. By 2005, five of Toyota's nine U.S. lines will produce multiple models, accounting for 71% of the automaker's North American volume, according to analyst Michael Bruynesteyn of Prudential Securities. Only a third of Big Three plants, with 34% of their production volume, will be as flexible by then. Winning the flex race, Bruynesteyn writes, "has been the key catalyst for the dramatic acceleration in market-share transfer from the domestics to the transplants and imports since...
...risk is that Ford could sully the cachet of its luxury vehicles. Says Prudential Securities analyst Michael Bruynesteyn: "If you leverage platforms and components, it has to be done in a way consumers don't notice." Already purists sniff that Jaguar's S-Type shares so many parts with the Lincoln LS and Ford Thunderbird that it is a Ford alley cat in a Jaguar's skin...