: GM Cuts '05 Earnings Outlook by 80 Percent



Playdrv4me
03-16-05, 11:45 AM
http://story.news.yahoo.com/news?tmpl=story&cid=580&ncid=580&e=1&u=/nm/20050316/bs_nm/autos_gm_dc

Could it be those 200 days of XLR's collectin dust? :p

I didnt know GM was involved in healthcare, interesting.

Jesda
03-16-05, 02:49 PM
There's not much that GM doesnt do. I wouldnt be surprised to see a GM shoe factory one day. V-series Reebok, anyone?

I feel bad for the workers of GM, but then again some of them are [UAW rant goes here].

davesdeville
03-16-05, 06:05 PM
Sounds like GM just does healthcare for its workers... GE is the company that does everything.

HotRodSaint
03-17-05, 10:49 AM
GM's dire outlook jolts auto industry (http://www.detnews.com/2005/autosinsider/0503/17/A01-120183.htm)


The surprise warning Wednesday exposed deep problems for GM in North America, including falling sales, increasing competition and skyrocketing health care and pension costs.

"GM North America is our 800-pound gorilla, and it's important that we get this business right," said Chairman and Chief Executive Rick Wagoner.

With its U.S. market share under 25 percent this year, analysts say GM must consider serious restructuring.

"It's one thing to say things are tougher than they expected, but what people want to know is, 'What are they going to do about it?' " said Stephen Girsky, chief auto analyst for Morgan Stanley in New York. "The company's market share doesn't support its size. They have too many plants, too many workers, too many models, too many dealers and their employee benefits are too high."