Word: gm
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...leading market for the cheap, green vehicles, helping to offset some of the harmful effects of the country's automobile boom. Indeed, as engineers around the world scramble to create eco-friendly, plug-in electric cars, China is already ahead of the game. Says Frank Jamerson, a former GM engineer turned electric-vehicle analyst: "What's happening in China is sort of a clue to what the future will be." (See the top 10 green stories...
...advisers, and there would be at least three - one for the U.S., one for Canada and one for the UAW - who would all have to reach consensus on a strategy for maximizing value. That most likely means a gradual release of the shares once an IPO of the new GM has occurred. After that, says Young, "it could take years to unwind the government and union positions...
...will GM deal with investors during its long journey back to public life? Says Young: "We're still working through the issues of what form of disclosure we will have." He acknowledges that GM will be making significant changes to its balance sheet by writing off assets and revaluing others. Such activity will be done as openly as possible, adds GM spokeswoman Renee Rashid-Merem. "We will provide an adequate level of detail," she says. "It's not our intention to be a secretive company." (Watch a video about an optimistic Dodge dealer...
...However, GM is an exceptionally complex enterprise, with 400 separate subsidiaries all over the world, some of which are consolidated and some of which are not. In fact, going forward, GM's huge European operations, including its burgeoning business in Russia, will no longer be consolidated. It also appears that GM could withhold information on pension obligations, which are separate from the VEBA, even though that will remain with the new GM...
...have an inherent conflict where the new GM is a private company and will argue they do not have to disclose financial information," says Brad Coulter, a consultant with O'Keefe & Associates in Bloomfield Hills, Mich. "But the new GM's major shareholder is the U.S. government, or essentially you and I; and I think the taxpayers and Congress should demand public filings of financial information just as they did when GM was a public company...