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It is really ugly at the General.... Posted by MI-Roger [Email] (#882) [Profile/Gallery] (more from MI-Roger) on Wed, 5 Oct 2005 08:30:33 In Reply to: Wow...GM is selling its stake in Subaru to Toyota!, Brian, Wed, 5 Oct 2005 05:04:18 Members do not see ads below this line. - Help Keep This Site Online - Signup |
It definitely appears that GM is selling everything they own that has any possible investment value in a mad scramble to generate cash, and why not?
A recent Gov't audit of GM's pension funds show these pensions to be under funded by $31 Billion! The impending bankruptcy/rescue of Delphi could cost GM another $6 Billion. They are losing nearly $5 Billion per year in operations. They have approximately $20 Billion cash on hand. Sounds like a justification for GM's own bankruptcy filing!
I think the bigger question for Saab fans is not whether the 9-2X and 9-6 will continue, but whether GM will also sell Saab to generate cash?
posted by 198.208.16...
_______________________________________ Saabs owned: 2008 9-5 Aero Sedan, sold at 227K miles 2006 9-3SC 2.0T - Wife's daily driver 2000 Viggen Convertible - Sold May, 2022 1964 Quantum IV Formula Car - Retirement project 2000 9-5lpt Sedan, sold at 318K miles
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