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AutoExtremist Rant on possilbe GM/Chrysler merger

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#1 ·
DeLorenzo early rant of the week www.autoextremist.com

October 15, 2008

In The Land of Not Good, hysteria sets in.

By Peter M. De Lorenzo

Detroit. The swirling maelstrom of conjecture, rumor and fabrication that’s enveloping the Motor City (aka The Land of Not Good) right now concerning GM and Chrysler has spun completely out of control. So much has been said by so many people who know so little about what’s going on, that it’s truly breathtaking to contemplate. As a matter of fact, I have never seen anything like it in all my years in this business.

With that in mind then, I thought it would be good idea to take a deep breath and talk about what we know first, before we venture into how any future scenarios might play out.

The Cerberus Fiasco.

First of all, as I’ve been warning for quite some time, the Cerberus “miracle” planned for the resurrection of Chrysler was a flat-out disaster waiting to happen. And unfortunately for the people at Chrysler, my prediction is unfolding as you read this. That Cerberus was completely out of their league and unencumbered with the first shred of knowledge or expertise required to turn around a flailing, ailing and deflating American automotive icon is a known fact.

And on top of that, the unbridled hubris that they brought to the table, which deluded them into thinking that they actually could venture into one of the most challenging businesses in the world - at exactly the most crucial juncture in American automotive history - and emerge with a nice big payday in a couple of years, is beyond comprehension.

That Cerberus assembled a “dream team” (at least in their estimation) consisting of Bob Nardelli - a man who was such an abject failure at Home Depot that the company has taken years to recover - and Jim Press, the architect of the modern miracle that is Toyota in the United States today, and “assumed” that they could just throw a switch and it would all be good, makes me question the sanity of the powers that be at Cerberus.

That the Cerberus brain trust was that out of touch and that detached from the reality of the situation is simply scary. There’s really no other word for it. Needless to say, the fact that things didn’t go swimmingly well for the Cerberus “dream team” was no surprise in the least. Assembling a team of alleged all-stars on paper doesn’t automatically translate into a winning performance, and Cerberus proved that timeless adage once again, but with dramatically painful consequences unique to its self-inflicted predicament.

To make matters worse, Chrysler’s public pronouncements have consisted of a particularly insidious form of overpromise, underdeliver bluster from the very beginning. Nardelli’s obnoxiously-tinged arrogance combined with Press’s incessant habit of lecturing the media about how super things are – as opposed to how truly horrific things actually were – wore thin months ago. And it seemed that the grimmer the sales numbers were for the domestic auto industry - with month after month of catastrophic results led by Chrysler’s shockingly dismal performance - the more the rhetoric by Nardelli and Press was ratcheted up. And the more Chrysler's credibility plummeted.

As a matter of fact as recently as two weeks ago, Chrysler was at it again, this time led by COO Tom LaSorda – a nice guy who has unfortunately been turned into the “Baghdad Bob” of the domestic auto industry by this Cerberus-orchestrated nightmare – extolling the virtues of Chrysler’s future electric vehicle program, a program that has little chance of happening in a future scenario of a Cerberus-planned exit strategy from the auto business.

The fact that this embarrassing smoke and mirrors, “it won’t be long now” public disinformation campaign has continued along unfettered - without even the whiff of reality emanating from Chrysler - has been absolutely reprehensible, in my estimation.

With all of this in mind, then, let’s talk about the so-called “merger.”

A disastrous scenario by any measure.

Let me get this straight right off the bat: The reality of a merger between GM and Chrysler would be an unmitigated disaster of incalculable proportion, one that would decimate both companies. You can spare me with the “economies of scale” argument (the darling rationale of “expert” analysts by the droves), too, because as logical as those arguments may be the fact of the matter is that putting two companies together that are already slumped against the ropes and gasping for air is sheer lunacy.

When you have one company that has too many models, too many divisions and too many dealers, how could you possibly think that combining that company with another company that has too many models, too many divisions and too many dealers would be a good idea?

I just about choked in my cornflakes reading as some pundits were extolling the size of the newly merged company, as if that would somehow justify all of the negatives associated with these two companies coming together.

It doesn’t. Not even close, as a matter of fact.

Besides, the “size” of the merged company wouldn’t resemble any of the estimates, not if any rational thought came into play.

Cerberus waves the white flag of surrender, now the real maneuvering begins.

No, the real meat of the GM-Chrysler talks revolved around Cerberus wanting out – and wanting out right now – of Chrysler. And if everyone would step back and let that thought percolate for a minute, then there might, and let me say that word again – might – have been some logic to a GM-Chrysler deal. But that deal wouldn’t have been a merger. Instead it would have been a takeover, with GM relieving Cerberus of control of Chrysler.

The important thing to remember in all of this is that Cerberus is privately admitting for the first time – despite its tediously embarrassing pronouncements to the contrary – that they are done with the car business.

The Cerberus obsession with Chrysler was akin to the dog in the neighborhood that liked to chase cars all day, until one day that dog actually caught a car. But then after finally catching a car, the dog doesn’t have the first clue as to what to do next. Cerberus caught its “car” in the guise of Chrysler, and armed with zero cumulative knowledge about the business, it demonstrated its relentless cluelessness and utter futility at every turn.

If there had been any agreement at all between GM and Chrysler, it would have revolved around GM taking control over Chrysler’s assets in exchange for the rest of its stake in GMAC. That way Cerberus would walk away with 100 percent of GMAC and GM would be left to sort out what to do with Chrysler’s existing operations.

GM’s interest in Chrysler: Why? And would it have been workable?

Why would GM have been interested in doing this if its situation is already beyond precarious? There are three reasons from GM’s point of view, actually (beyond the usual mention of cost savings). 1. To gain control of the Jeep brand, so it could be merged with Hummer (that is until Hummer is sold). 2. To gain control of Chrysler’s minivan franchise, and its engineering and development expertise in that segment. And 3. To prevent a major global competitor from gaining a major foothold in the U.S. market by taking over Chrysler and its dealer network.

It should be obvious that under any takeover scenario Chrysler would be gutted of people and nameplates. After all, the last thing GM needs is more truck and SUV capacity – or more cars to sell for that matter - so the likelihood of GM hanging on to the vast middle management bureaucracy of Chrysler, or its mediocre product portfolio, is slim and none. In short, GM would “cherry pick” only what it wanted from Chrysler, which means that the impact in terms of human capital would be absolutely devastating. How bad would it be? I estimate 80 percent of the current Chrysler workforce would have to be eliminated for any of it to work.

Even if GM had gained control over Chrysler and only took interest in Jeeps and minivans, would it have worked? From where I sit, no, because GM has been operating with a divisional structure that grew obsolete 25 years ago, while refusing to acknowledge the reality of its too many models-too many divisions-too many dealers conundrum. So, with GM already teetering on the edge of corporate disaster, why would they have wanted to add to the confusion?

Chrysler’s fate now etched in stone, as GM’s fate takes an ominous turn.

With Cerberus being “done” with Chrysler, the fate of the auto company based in Auburn Hills has been set. Within six months, Chrysler will be taken over or “parted out.” Either way, Chrysler will cease to exist as we know it by next spring, if not sooner.

As for GM, the fact that the company’s management is exploring all options at this juncture is telling. Yes, the national and global financial crisis and the paralysis in the credit markets have been brutal to Detroit in particular, but GM’s “talks” with other automakers smacks of desperation, there is no doubt about it. Especially with the news that GM approached Ford on the idea of a more formal, large-scale partnership (beyond the small technical partnership they already share in a few engineering areas) even before the Chrysler discussions, according to Bill Vlasic, reporting for The New York Times. Those talks went nowhere, as Ford wants to go on its own path.

As hard as it may be to believe, GM may be next up behind Chrysler to face elimination, consolidation or ruination. The first 100 years for GM blew by in a blur. The next twelve months, on the other hand, are shaping up to be an excruciatingly painful siege that could determine the very existence of the company.

Simply incredible.

And one final thought: To demonstrate just how crazy things are getting in the Motor City, I will bring forth a new scenario that’s emerging, and that is that the GM-Chrysler talks have ended for good (the word was that they were only put on “hold” due to the burgeoning financial crisis). Instead, GM has already moved on to renewed, serious discussions with Carlos Ghosn about the possibility of merging GM’s global operations with Renault-Nissan.

Needless to say, we have a developing situation here in the Motor City. I just hope we can survive the hysteria long enough to sort it all out.

Thanks for listening, see you next Wednesday.
 
#2 ·
This is a few days early from PDL.

I didn't see this anywhere -- sorry if its a repost:

SOURCE: AutoExtremist.com

In The Land of Not Good, hysteria sets in.
By Peter M. De Lorenzo
October 15, 2008

Detroit. The swirling maelstrom of conjecture, rumor and fabrication that’s enveloping the Motor City (aka The Land of Not Good) right now concerning GM and Chrysler has spun completely out of control. So much has been said by so many people who know so little about what’s going on, that it’s truly breathtaking to contemplate. As a matter of fact, I have never seen anything like it in all my years in this business.

With that in mind then, I thought it would be good idea to take a deep breath and talk about what we know first, before we venture into how any future scenarios might play out.

The Cerberus Fiasco.

First of all, as I’ve been warning for quite some time, the Cerberus “miracle” planned for the resurrection of Chrysler was a flat-out disaster waiting to happen. And unfortunately for the people at Chrysler, my prediction is unfolding as you read this. That Cerberus was completely out of their league and unencumbered with the first shred of knowledge or expertise required to turn around a flailing, ailing and deflating American automotive icon is a known fact.

And on top of that, the unbridled hubris that they brought to the table, which deluded them into thinking that they actually could venture into one of the most challenging businesses in the world - at exactly the most crucial juncture in American automotive history - and emerge with a nice big payday in a couple of years, is beyond comprehension.

That Cerberus assembled a “dream team” (at least in their estimation) consisting of Bob Nardelli - a man who was such an abject failure at Home Depot that the company has taken years to recover - and Jim Press, the architect of the modern miracle that is Toyota in the United States today, and “assumed” that they could just throw a switch and it would all be good, makes me question the sanity of the powers that be at Cerberus.

That the Cerberus brain trust was that out of touch and that detached from the reality of the situation is simply scary. There’s really no other word for it. Needless to say, the fact that things didn’t go swimmingly well for the Cerberus “dream team” was no surprise in the least. Assembling a team of alleged all-stars on paper doesn’t automatically translate into a winning performance, and Cerberus proved that timeless adage once again, but with dramatically painful consequences unique to its self-inflicted predicament.

To make matters worse, Chrysler’s public pronouncements have consisted of a particularly insidious form of overpromise, underdeliver bluster from the very beginning. Nardelli’s obnoxiously-tinged arrogance combined with Press’s incessant habit of lecturing the media about how super things are – as opposed to how truly horrific things actually were – wore thin months ago. And it seemed that the grimmer the sales numbers were for the domestic auto industry - with month after month of catastrophic results led by Chrysler’s shockingly dismal performance - the more the rhetoric by Nardelli and Press was ratcheted up. And the more Chrysler's credibility plummeted.

As a matter of fact as recently as two weeks ago, Chrysler was at it again, this time led by COO Tom LaSorda – a nice guy who has unfortunately been turned into the “Baghdad Bob” of the domestic auto industry by this Cerberus-orchestrated nightmare – extolling the virtues of Chrysler’s future electric vehicle program, a program that has little chance of happening in a future scenario of a Cerberus-planned exit strategy from the auto business.

The fact that this embarrassing smoke and mirrors, “it won’t be long now” public disinformation campaign has continued along unfettered - without even the whiff of reality emanating from Chrysler - has been absolutely reprehensible, in my estimation.

With all of this in mind, then, let’s talk about the so-called “merger.”

A disastrous scenario by any measure.

Let me get this straight right off the bat: The reality of a merger between GM and Chrysler would be an unmitigated disaster of incalculable proportion, one that would decimate both companies. You can spare me with the “economies of scale” argument (the darling rationale of “expert” analysts by the droves), too, because as logical as those arguments may be the fact of the matter is that putting two companies together that are already slumped against the ropes and gasping for air is sheer lunacy.

When you have one company that has too many models, too many divisions and too many dealers, how could you possibly think that combining that company with another company that has too many models, too many divisions and too many dealers would be a good idea?

I just about choked in my cornflakes reading as some pundits were extolling the size of the newly merged company, as if that would somehow justify all of the negatives associated with these two companies coming together.

It doesn’t. Not even close, as a matter of fact.

Besides, the “size” of the merged company wouldn’t resemble any of the estimates, not if any rational thought came into play.

Cerberus waves the white flag of surrender, now the real maneuvering begins.

No, the real meat of the GM-Chrysler talks revolved around Cerberus wanting out – and wanting out right now – of Chrysler. And if everyone would step back and let that thought percolate for a minute, then there might, and let me say that word again – might – have been some logic to a GM-Chrysler deal. But that deal wouldn’t have been a merger. Instead it would have been a takeover, with GM relieving Cerberus of control of Chrysler.

The important thing to remember in all of this is that Cerberus is privately admitting for the first time – despite its tediously embarrassing pronouncements to the contrary – that they are done with the car business.

The Cerberus obsession with Chrysler was akin to the dog in the neighborhood that liked to chase cars all day, until one day that dog actually caught a car. But then after finally catching a car, the dog doesn’t have the first clue as to what to do next. Cerberus caught its “car” in the guise of Chrysler, and armed with zero cumulative knowledge about the business, it demonstrated its relentless cluelessness and utter futility at every turn.

If there had been any agreement at all between GM and Chrysler, it would have revolved around GM taking control over Chrysler’s assets in exchange for the rest of its stake in GMAC. That way Cerberus would walk away with 100 percent of GMAC and GM would be left to sort out what to do with Chrysler’s existing operations.

GM’s interest in Chrysler: Why? And would it have been workable?

Why would GM have been interested in doing this if its situation is already beyond precarious? There are three reasons from GM’s point of view, actually (beyond the usual mention of cost savings). 1. To gain control of the Jeep brand, so it could be merged with Hummer (that is until Hummer is sold). 2. To gain control of Chrysler’s minivan franchise, and its engineering and development expertise in that segment. And 3. To prevent a major global competitor from gaining a major foothold in the U.S. market by taking over Chrysler and its dealer network.

It should be obvious that under any takeover scenario Chrysler would be gutted of people and nameplates. After all, the last thing GM needs is more truck and SUV capacity – or more cars to sell for that matter - so the likelihood of GM hanging on to the vast middle management bureaucracy of Chrysler, or its mediocre product portfolio, is slim and none. In short, GM would “cherry pick” only what it wanted from Chrysler, which means that the impact in terms of human capital would be absolutely devastating. How bad would it be? I estimate 80 percent of the current Chrysler workforce would have to be eliminated for any of it to work.

Even if GM had gained control over Chrysler and only took interest in Jeeps and minivans, would it have worked? From where I sit, no, because GM has been operating with a divisional structure that grew obsolete 25 years ago, while refusing to acknowledge the reality of its too many models-too many divisions-too many dealers conundrum. So, with GM already teetering on the edge of corporate disaster, why would they have wanted to add to the confusion?

Chrysler’s fate now etched in stone, as GM’s fate takes an ominous turn.

With Cerberus being “done” with Chrysler, the fate of the auto company based in Auburn Hills has been set. Within six months, Chrysler will be taken over or “parted out.” Either way, Chrysler will cease to exist as we know it by next spring, if not sooner.

As for GM, the fact that the company’s management is exploring all options at this juncture is telling. Yes, the national and global financial crisis and the paralysis in the credit markets have been brutal to Detroit in particular, but GM’s “talks” with other automakers smacks of desperation, there is no doubt about it. Especially with the news that GM approached Ford on the idea of a more formal, large-scale partnership (beyond the small technical partnership they already share in a few engineering areas) even before the Chrysler discussions, according to Bill Vlasic, reporting for The New York Times. Those talks went nowhere, as Ford wants to go on its own path.

As hard as it may be to believe, GM may be next up behind Chrysler to face elimination, consolidation or ruination. The first 100 years for GM blew by in a blur. The next twelve months, on the other hand, are shaping up to be an excruciatingly painful siege that could determine the very existence of the company.
MORE HERE
 
#3 ·
The most shocking part is this new rumor that Delorenzo claims to have heard:

And one final thought: To demonstrate just how crazy things are getting in the Motor City, I will bring forth a new scenario that’s emerging, and that is that the GM-Chrysler talks have ended for good (the word was that they were only put on “hold” due to the burgeoning financial crisis). Instead, GM has already moved on to renewed, serious discussions with Carlos Ghosn about the possibility of merging GM’s global operations with Renault-Nissan.

:eek::faint:
 
#4 ·
The most shocking part is this new rumor that Delorenzo claims to have heard:




:eek::faint:

Their better be no way in hell Renault/Nissan gets involved in this. :mad: I'm sick of all this "the sky is falling" attitude. GM has the product now and all they need is some cash to keep the doors open. Wall Street had a bailout, where's GM's?
 
#5 ·
I don't agree with everything that this article states however much of it I have to agree with it, GM merging with Chrysler doesn't make much sense to GM.

GM may not make it through this, they refused to get back into the car biz in a big way like they should have. Even though some people will say look at the new Malibu, CTS, etc....... those are only a few vehicles. Chevy makes the Aveo, Cobalt, Malibu, Impala, Corvette cars that come in all sizes but the only one of those cars that we can even think of as a leader is the Malibu (I love the Corvette btw). Out of 5 cars that it makes only one of them can be considered very competitive thats a 20% grade which is below F. Even if GM killed off most of its brands it does nothing to solve the problem at GM and that is an addiction to trucks and SUVs. Killing off those brands will greatly lower GMs sales and revenue and reduce the amount of money that they have for R&D.

IMHO GM needs to keep the brands that it has, it needs to start cutting SUVs starting with the ones that are not big sellers. They need to start making the vehicles that people need and want and not the vehicles that GM wants to sell to everyone. Can Pontiac exist as a niche performance brand? can Lotus exist as a niche performance brand? can Porsche exist as a Performance niche brand? ofcorse.
 
#6 ·
Alot of BS PR out there . When the smoke clears and GM starts to make the comeback there will be a bunch of insiders making barrels of money!
Its all smoke and mirrors BS.

GM needs to stick with the original turnaround plan and the Media needs to shut the hell up. The sky is not falling.
 
#12 ·
That is the problem. Unlike Ford, GM has not committed to a turnaround plan. They make a decision, and change it a week later. They are flopping around like a fish out of water. Their management is too weak to do the things that HAVE to be done................ so they are just treading water, hoping that everything goes back to same old.

Many have said that getting rid of Wagoner and Lutz, at this point, would be suicide. I say just the opposite. It may actually give some investors hope that GM is serious about being around for another 100 years. It might give the credit markets hope that GM is ACTUALLY trying. They may be more likely to find a friendly benefactor.

That I have no confidence in GM, with their current management, means nothing. However, if me.............. a nobody............... feels that way, imagine how those that actually have a lot to give, and lose, feel.
 
#7 · (Edited)
I usually think Delorenzo is kind of a crackpot. But there doesn't seem to be much of an argument against this - it's simply a recitation of dismal realities.

Now I want all of the people who said those white men at Cerberus were kick-ass no-it-alls to admit they were wrong.

Notice the pattern from Cerberus lately? "Hey anyone want to buy the Viper?"

Do we need any more clues that Chrysler will be 'parted out?'

Cerberus, like any vulture-like equity group, is simply going to pick this thing apart untill they're selling the copper pipes and electrical conduit out of the corporate headquarters.


OK, having said that, GM might be tempted to take over control of Chrysler in order to eliminate some competition - but the thing is, GM can't really offer up much money. Also, there's a darn good chance Chrysler will go under anyway so GM might get the same result (elimination of one competitor) simply by waiting it out and keeping its powder dry.
 
#9 ·
that guy is an idiot.

The talks probably went something like this:

Cerberus: Hey GM, will you take Chrysler off our hands?
GM: No way!
Cerberus: We'll give you a wad of cash!
GM: How big of a wad?
Cerberus: HUGE....but we want the rest of GMAC, too.
GM: hmmmmm.....
 
#11 ·
Not a rant at all, but a mini-case study of why a merger would be a disaster for GM. Well thought out and alarmingly realistic. This guy knows and understands the car industry as well as anyone. I sure hope someone at GM will listen to his advice.
 
#19 ·
It is good to see that a "rant" is really the truth instead of the spin from the GM blogmeister, Heir Yutz.

For all of the failings of the "dream team" over at Chrysler, perhaps the biggest story is the complete disaster that has become of GM with the "Product Czar", Robert Lutz, at the helm of product decisions.

According to GM's own website, "Robert A. Lutz was named General Motors vice chairman of product development on September 1, 2001. On November 13, 2001, he was named chairman of GM North America and served in that capacity until April 4, 2005, when he assumed responsibility for Global Product Development. He also served as president of GM Europe on an interim basis from March to June 2004."

The "messiah" of GM has been entrenched at GM for over seven years. Seven years. Seven years.

The so-called product czar doesn't have much of a track record on which to base his title - he was the idiot who spearheaded the failed Merkur line that brought his ugly babies Sierra (XR4ti) and the Scorpio (Scorpio) over to the U.S. from Europe as a complete new division of Ford Motor Company. Supposedly the Yutz was also instrumental in the development of the first Explorers which begs one to ask "what did he know and when did he know it of the fiasco of the problems with rollover issues with Explorers?"

Remember, Yutz has been with GM seven years.

One of his first actions was to remove plastic cladding from Pontiacs. He then later was instrumental and claimed with great glee that the Buick LaCrosse and Lucerne "were my babies" and then abandoned them when they became complete sales disasters. Yutz was also the man who told the press to stop comparing the sales results of the Pontiac G6 to the Grand Am (because the whole lineup hadn't been introduced!). GM under his leadership couldn't launch a full line of vehicles at one time!?

But Yutz has been at GM for seven years!

Behind the scenes at GM the Yutz was supposedly hacking away at costs and alienating suppliers by putting pressure on them to reduce their costs. Meanwhile, as he overtook the role of Product Poobah, he also made himself chief blogger of the realm of GM and set off to insult much of the press who had mocked the G6 launch and had dared to ask questions about why the Cobalt was not that much better than the Cavalier.

But the Yutz has been at GM for seven years!

Meanwhile as the Year of the Car unfolded at GM with the half-baked G6 and Cobalt leading the charge toward mediocrity, GM's brands were never defined and clarified. The Yutz spoke out of one side of his mouth and declared "badge-engineering is dead" and then gave us the Pontiac G5, the Saturn Aura, and the Saturn Outlook and GMC Arcadia and Pontiac Solstice (sic) and Saturn Sky. Moreover, after sales gimmicks had started to wear off the ability to push more GM junk onto the consumers, the Yutz vowed to have "one pricing strategy" and then turned around and offered no less than 13 different pricing gimmicks that very same year.

But the Yutz has been at GM for seven years!

We fast forward to the current GM situation - still burning through cash at the rate of $1 billion a month. Two or so years away from a horrible launch of a whole new line of pickups that looked an awful lot like the old ones and shared all of the hard points save for being wrapped in new sheetmetal, GM is now optionless with trucks - it could have been innovative - it went indifferent. Yet the Yutz rushed these trucks to market pointing out the cost savings of doing so. Nevermind he still had to sell these trucks through gimmicks because he never figured out that today's marketplace required aiming at being best in class rather than just good enough.

Seven years....

And now we have the disturbing news that potentially GM and Chrysler could be shacking up and this follows the news of the past 12 months that GM was fast losing its place as the number one vehicle manufacturer in the world and having Chrysler would be an easy way for GM to leapfrog over Toyota for that sales title - even as Chrysler offers GM nothing more than a Jeep, a minivan, and trucks that are better than GM's - hands down. The deal doesn't give GM any small car program or any significant hybrid achievements that could be replicated in their own lineup after consuming Chrysler.

Yet, after seven years GM has been brought to this point by a Product Czar who is far more roar than conquest, far more twit than genius, and a constant bottom feeder on the scale of professional achievement. For the man who brought us the Merkur will now be the one to bring Chrysler to GM and more tens of thousands of workers will lose their job to make the Czar Yutz the head honcho of the world's largest automaker.
 
#21 ·
Again, my understanding is GM was considering doing this because Cerebus was offering a large amount of cash if GM took over Chrysler and gave them the rest of GMAC.

GM needs one thing right now.....Cash. If the cash was a high enough offer, it would be a good move for GM to do the deal. It all comes down to details....
 
#22 ·
I agree with this idea, also the word merger is incorrect. A GM take-over would allow them too dump everything from chrysler except the mini-vans and jeep.
 
#28 ·
Re: AutoExtremist's "In The Land of Not Good, hysteria sets in".

What? A day early? That messes up my Wednesday schedule.

Honestly, it's a fairly predictable read, and Mr. Delorenzo is spot-on with his current assessment.

Instead, GM has already moved on to renewed, serious discussions with Carlos Ghosn about the possibility of merging GM’s global operations with Renault-Nissan.
Ug, not sure I'd like that combination. Who would run that new organization? Waggoner? Ghosn?
 
#32 ·
Re: AutoExtremist's "In The Land of Not Good, hysteria sets in".

What? A day early? That messes up my Wednesday schedule.

Honestly, it's a fairly predictable read, and Mr. Delorenzo is spot-on with his current assessment.

Ug, not sure I'd like that combination. Who would run that new organization? Waggoner? Ghosn?
My guess might be then Waggoner will be at the role of Chairman while Ghosn will take the roles of CEO and president
 
#33 ·
Re: AutoExtremist's "In The Land of Not Good, hysteria sets in".

I don't want to come off as a **** but not only is this a repost, it's a repost of a front page article/thread.
Greetings Sinner,

This is not a repost. It is the AutoExtremist's take on the talks of a possible merger between GM & Chrysler. GMI's Crisis Mode "Front Page" is a combination of threads, not one single article about the possible merger talks as Peter D. Lorenzo's article is COMPLETELY about.

It appears to me that you didn't click on the link & read the full article at Autoextremist.com.




.
 
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