And while on the automotive front...

[unixronin]

Word is, Saturn would like GM to spin it off as a fully independent company free of GM’s corporate culture and let it get back to being the “different kind of company” it was originally supposed to be.

According to Business Week, GM’s been discussing a slightly different plan.  It involves tying Saturn’s ankles to a huge chunk of GM’s debt and tossing it off a bridge, along with Hummer and a bunch of “underperforming operations”.  GM walks away debt-free and smelling of roses; Saturn washes up on the shore of the Detroit River.

I guess that’s just how they do business in Detroit.

Comments

[n5red.livejournal.com]

Of course that's how they do business, they don't want to risk having competition.

[unixronin.livejournal.com]

Especially competition that might actually be competent, unlike them.

[montieth.livejournal.com]

Heh. We're doing that to Time Warner Cable and I think in the future AOL. Of course MOST of the debt side of the P%L ratio comes from them and most of the Profit thing comes from the Turner side of the operation at this point. Apparently last year, just about every portion of the Turner enterprise increased in revenue. This was oddly the only part of the company which did so.

[lebo-superman.livejournal.com]

I think if I was on the BOD for Saturn, I'd be talking to legal counsel about means of protecting against this move by GM.

[jhetley.livejournal.com]

I think, technically, that rivers have banks rather than shores. Otherwise, spot-on . . .

[unixronin.livejournal.com]

Point. I plead "it was late at night".