GM Could Sell Detroit Headquarters

[ejfx]

Buy high...Sell low

Thats the GM way!

[Firebird00]

Sell that place and move to Houston, TX. We have some space in some of our skyscrapers (I think the old Enron building is still open). Cheaper living, an insulated economy of sorts in that we don't suffer as drastically as the rest of the nation, energy capital of the world, lots of roadways, no miserable winter etc.......

[sprchev1]

Originally Posted by Generous Motors

Nobody lives in Detroit for long.......

GM should sell it and get the hell outta Detroit to a safer suburb, the savings in security would get GM back in the black.

Ford is in Dearborn.

Spoken like someone who has never been in Detroit let alone worked downtown. It is perfectly safe to work in Downtown Detroit. GM made the decision to support it's hometown and move it's headquarters down there to support the community. There is no security problem at the RenCen. I know, I worked there for about 2 years.

[lio45]

Originally Posted by rozz

That is nothing...Ford is way down- down to about $2.92.

$2.92 for Ford is much higher than $7.56 for GM.

(Ford's market cap @ $2.92 is $6.4 billion... while GM is worth a meager $4.2 billion)

Man, it's a full-time job correcting people who don't know squat about the stock market on these forums. I should start counting how often I have to do it, just out of curiosity...

[big swede]

Originally Posted by 1931Chevy

Lets see GM bought RenCen back in 1996, it sold it some years later and leased it for the office they where using, buy the building back in 08 for 626 million and after GM investing some billions in it and now they are planning to only get 500million

Something serously shady is going on. No one can keep making such poor business decisions time after time after time. Even if you're bad you get lucky once in a while.

[Neanderthal]

I've got 3600 sq. foots we can sell GM for the right price.
It behooves GM to open an Idy-ho Branch HQ to stay ahead of the po-tater market.

[2002 Caddy]

Originally Posted by big swede

Something seriously shady is going on. No one can keep making such poor business decisions time after time after time. Even if you're bad you get lucky once in a while.

Have you looked at Tricky Ricky's track record?... When did he EVER make a good business decision?... This guy is a Harvard Business School Case Study of Bad Business Decisions.

I figured out how to replace Rick... Hire anyone even the mail room clerk will be fine... Here is the trick have them retain Rick as a Business Consultant, pay him $1,000,000 a year. (Sorry for the pay cut Rick)

Every time the new guy is faced with a difficult business decision... Like, "Should I buy Fiat?"... or "Is Pontiac is Car a good marketing slogan"... or "Will we retain all of the Oldsmobile customers"... or "Should I cancel the Northstar V8 replacement".. Just ask Rick... If Rick says "Yes" (or No) then Do the OPPOSITE. Simple. Imagine how much money we would have if we had ONLY done this.

I call this the "Just ask Rick" plan... GM, its yours for free...
All I ask is the first question that is asked is "Is the current STS a good car and should we just keep flogging it?"

[Buick City]

[quote=member12;1529947 Do most of their employees live in downtown Detroit (or within a few miles of it)? .[/QUOTE]

If you have to even ask that question, it's obvious you have never been to or seen downtown Detroit (or within a few miles of it).

[Odin]

rick needs to go, now.

[member12]

Originally Posted by Buick City

If you have to even ask that question, it's obvious you have never been to or seen downtown Detroit (or within a few miles of it).

I was being sarcastic. Georgia Pacific and others are in Downtown Atlanta because Atlanta is an actual city....meaning, working people live there. It's more expensive to live in a good neighborhood in Atlanta proper, but it's very possible for even moderate income.
Houston and Dallas also have great residential neighborhoods near downtowns or within a 15 minute drive...granted, they are expensive, but they exist.

It's been a few years since I've been there, but my opinion of Detroit leads me to believe that there are few, if any companies willing to buy something as large as the Ren Center.

I don't know the real estate market there, but I'd rather see GM move out of Detroit. I'd support a move to Phoenix, Dallas, Houston, or to one of the Detroit's outer suburbs where they already own expanses of land. Cincinnatii, Nasvhille, Memphis.....all of those cities could host a strong downtown. I know Houston especially is extremely pro-business in it's government, tax structure, and land development.

Why GM bought this building is beyond me.

It's to the point where I would think twice of taking a position at GM if I had to move there. I don't mean to offend people who are from Detroit, but that's a way of life that I couldn't get used to. Doesn't this effect their ability to recruit younger talent from outside the city?

[MonaroSS]

My suggestion to Lutz was that GM should move their world headquarters to Holden in Australia. As the map shows it's closer to GM's future and the markets they care about. It's in similar time zones but in the closest country that has a solid democracy and rule of law like the US and Europe that allows for the trust investors need.

And as GM obviously don't care about the US market and it is the bane of all their problems, if they move GMNA to an arms length subsidiary, then if it goes bankrupt then GM can still survive and even thrive. It’s just like Halliburton have moved their world headquarters to Dubai to be closer to their most important market. Yes it may seem like rats fleeing a sinking ship, but the rats live to eat again another day…..

[Generous Motors]

Originally Posted by sprchev1

Spoken like someone who has never been in Detroit let alone worked downtown. It is perfectly safe to work in Downtown Detroit. GM made the decision to support it's hometown and move it's headquarters down there to support the community. There is no security problem at the RenCen. I know, I worked there for about 2 years.

Spoken like someone who has no idea what he is talking about. I lived in Detroit for far to many years (Plymouth Road between Southfield and Greenfield), the Detroit that has been the Murder Capitol of the World, don't tell me how safe that place is. Then why oh why is it loosing population, could it be that people are scared of get robbed, raped, or just plain murdered. Detroit died in the mid 1970's.

You commute from Grand Rapids to Detroit? Why don't you live in the city and save a ton on travel and fuel....hmmmmmm?