: GM Screws up again ....



Stoneage_Caddy
03-17-05, 03:23 PM
General Motors' stock fell to its lowest level in more than a decade Wednesday after the company said it expected to post a loss of nearly $1 billion for the last six months. The news set off G.M.'s largest single-day share loss since the market collapse of 1987 and further darkened Wall Street assessments of the company, the world's largest automaker.

Now remeber that 1 billion loss above when you read below :

GM officials had long maintained the put was unenforceable but in the end agreed to pay 1.55 billion euros, or about $2 billion depending on the exchange rate, to terminate the Master Agreement, including the put option. Several reports indicated that GM will pay Fiat almost $1.3 billion almost immediately.

In the settlement that headed off potential court fight, GM also acquired an interest in key strategic diesel engine assets, and other important rights with respect to diesel engine technology and know-how, the official announcement said. The acquisition will assure the future availability of a full range of diesel engines for vehicles produced by GM's global operations.


http://www.thecarconnection.com/index.asp?n=156,175&sid=175&article=8121

ie they may have won in court and would have had to pay much less than 2 billion !!!!

keep it up GM ...i love "orphan cars" like Studebaker and Packard .....maybe ill get more money for my deville in a few years !

Adumb
03-17-05, 04:19 PM
keep it up GM ...i love "orphan cars" like Studebaker and Packard .....maybe ill get more money for my deville in a few years !

haha, yeah, come on gm, backruptcy is tough, but i think with a little of help you could do it.