Word: gm
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Toyota's (TM) share of the U.S. light vehicle market is 18% and Honda's (HMC) is 10%. GM's (GM) share of its home market is about 22%. Fifty-five years ago, the No.1 U.S. car company had 54% of the U.S. market. By this time next year, GM's piece of the American car pie could drop another 50%, bringing it closer to Honda...
...tough and talented executive but indubitably an insider. I suspect he may have damaged his long-term chances by pinning his colors so firmly to Mr. Wagoner's mast during the drawing up of the GM restructuring plan...I would give him a 50-50 chance, which is not bad given the odds on GM as a whole." -John Gapper, writing on his Financial Times blog about Henderson's promotion, March...
...When you see a guy with talent, you give him a difficult assignment." -John Smith, retired GM chairman, on entrusting GM's foreign operations to Henderson. (Businessweek...
...stock market has been pointing to an improved economic picture. There has to be a lot of optimism built into a 20% stock market rise that takes less than half a month. But, news that GM (GM) or Chrysler might go bankrupt and that large American banks may need more government money pushed stocks down again. In a very short period of time, investors have begun to doubt whether there is a good chance that the recession will lose steam before the end of this year. The month which began with optimism is not closing out that way. (See pictures...
...have been slightly better than expected, but less awful is still awful. Several large U.S. companies, lead by utilities giant American Electric Power (AEP), said that the year would be worse than expected. It probably is a sign of severe trouble when the electric company is cutting costs. Whether GM goes into bankruptcy or not, it is still shrinking its workforce. Last week 7,600 salaried workers took buyouts. Chrysler has employee buyout offers pending. Several large auto parts suppliers are still cutting people. In other words, industries which were in trouble six months ago are in as much...