We can wait to see what happens, but perhaps he's bitten off more than he can chew. They've used the value of Hughes effectively to benefit other shareholders. I don't think there's any consensus among analysts that GM is forgetting about shareholders and should be taken over by raiders.
More Quotes from David Healy:
I think the companies are coming out of it with a contract they can live with, but not with any major reductions in their employment costs.David Healy
In the light of the fact that GM burned through 7bn in cash last year, it was clear additional urgent action was required.
David Healy
While the (health-care) deal is a positive, they have several other challenges. They are losing too much market share. They have too many plants, too many people and too many models.
David Healy
To me it was a foregone conclusion because the union and the company had already agreed to it.
David Healy
GM had an unusually weak November a year ago. It made a big push in December last year, a big push in the summer, and November was kind of a lull.
David Healy
Asian makers particularly are exploiting Detroit's 2,000 dollar per-vehicle cost-of-production disadvantage (which largely stems from the US manufacturers' enormous legacy costs) to offer stylistically and technologically more advanced vehicles.
David Healy
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