Shanghai GM Headquarters; Chevy Volt Image: GM
From the Publisher:
Detroit - (12/8/11) This new analysis, due out December 20, 2011, will show that GM's bankruptcy was forced and wholly unnecessary, especially in light of the fact that the company's global assets exceeded that of Ford, who, under the leadership of Alan Mulally, and supported by the Ford Family and company board, wisely chose not to follow GM's path. A path that nearly destroyed the company and contributed greatly to the country's economic meltdown.
Shenzhan: Urban Modernity Fueled by Western Naivete Image: PRC
Despite its relative success, and boasting of China production and sales milestones (note: the authenticity and accuracy of such numbers continue suspect due to provable falsification of China statistical manufacturing data over the past several years) GM is a mere shadow of its former self, run by an executive leadership mostly comprised of personnel who have no business running an auto company. Indeed, a leadership who is at this juncture acting as pawn to a communist, dictatorial China government where there is no true private industry. And, as laudable as their stance relative to SAAB apparently is, one cannot help but wonder if this is part of a grander strategy that will ultimately see that Swedish icon completely absorbed into the China auto industry collective with GM's blessing.
The analysis will also show that the coterie of Presidential advisors involved in the making of a momentous decision leading to bankruptcy, had no true industry expertise among them, but were instead acting in the best interest of certain elements of Wall Street in collaboration with the Chinese financial sector. Former GM Chair Rick Wagoner and the company's leadership overall believed up until the moment President Obama called at 9pm EST Sunday, 31 May 2009, that they would not be forced into bankruptcy. Moreover, they had been advised by their Capitol Hill based people that "bankruptcy was off the table".
As of now, GM has lain the groundwork wherein its US workforce rolls. both administratively and in manufacturing, will be pared to an absolute minimum, an assertion all but confirmed by CEO Dan Akerson's recent -and rather ironic- comments in the Detroit News likening GM corporate culture to that of "The Communist Party in China in the 1960's", while comparing the historically provable vastness of the "GM Empire" to the former "British Empire". Thus implying the sun had set on both as justification for his actions.
What will become clear is that GM's "sleeping with the Dragon" may well prove to be its undoing... From the 12/20/11 analysis - Myron D. Stokes
The analysis will also show that the coterie of Presidential advisors involved in the making of a momentous decision leading to bankruptcy, had no true industry expertise among them, but were instead acting in the best interest of certain elements of Wall Street in collaboration with the Chinese financial sector. Former GM Chair Rick Wagoner and the company's leadership overall believed up until the moment President Obama called at 9pm EST Sunday, 31 May 2009, that they would not be forced into bankruptcy. Moreover, they had been advised by their Capitol Hill based people that "bankruptcy was off the table".
As of now, GM has lain the groundwork wherein its US workforce rolls. both administratively and in manufacturing, will be pared to an absolute minimum, an assertion all but confirmed by CEO Dan Akerson's recent -and rather ironic- comments in the Detroit News likening GM corporate culture to that of "The Communist Party in China in the 1960's", while comparing the historically provable vastness of the "GM Empire" to the former "British Empire". Thus implying the sun had set on both as justification for his actions.
What will become clear is that GM's "sleeping with the Dragon" may well prove to be its undoing... From the 12/20/11 analysis - Myron D. Stokes
Related:
From the archives - http://slidesha.re/6QiDnp http://slidesha.re/K6brD
The Chinese Hand That Bailed Out GM (China Daily 12/9/11) http://www.chinadaily.com.cn/cndy/2011-12/09/content_14236887.htm?bsh_bid=49705817
The United States China Economic and Security Review Commission Annual Report to Congress
http://en.wikipedia.org/wiki/Economy_of_the_People's_Republic_of_China
http://chinadigitaltimes.net/2011/09/chinas-puzzling-numbers/
http://www.pressreleasepoint.com/printpdf/431069
http://detnews.com/article/20111207/AUTO01/112070327/GM-trims-salaried-workers
