Midnight Snippets

I’ve just hooked up with this Windows Messenger thingy. I can maintain a blog but I have no idea how this works. Anyway,I think the address emailswader-at-hotmail.com has something to do with it.

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George W Bush is a Swede. Yes, that George Dubya.

Go figure….

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It’s midnight and I’ve been up waiting for US sales data, but all the news coming out of GM at the moment concerns their latest cash-raising sale – getting rid of 51% of their finance arm, GMAC, for US$14 billion.

Widely expected, but news nonetheless. I’ll bet those sales figures come in just 10 or so minutes after I go to sleep. If so, can somebody please put them in comments?

Thanks a bunch.

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5 Comments

  1. “George W Bush is a Swede”,
    Please tell me it isn’t so! He’s only part Swede I guess, and I’m only half Swedish, but it still makes it a very sad day to find this out.

  2. Yeupp!
    When the radio started this morning to wake me up…THAT WAS EXACTY WHAT I HEARD…..
    But his forfather left the “djupa skogarna i Värmland” in the 16:th hundred. So I can live with that. But the poor americans must live with that “moving-from-Sweden-thing” noadays!

    PS: the “djupa skogarna i Värmland” means “the deep forests of Värmland”, a part of Sweden some bit south of central Sweden.

  3. Ted: We clash again. But enough on the political front.

    The interesting thing to me here is the rather blase acceptance of GM selling off half of GMAC. This is a GM division that is hugely profitable and has a great deal of influence within the ranks of GM. How will this affect the near-term decisions of this conglomerate? I have to think that it will help to refocus on investments in the auto business (good) and it should relieve some of the short-term financial pressure on the manufacturing operations (mixed). The questions I have are these:
    1. Will GM still have the stomach to fight the UAW for a sustainable deal? The union is bloated, and the contract is strangling the company. While the pressure was on, GM had little choice — they had to take on the union contract to gain concessions for survival. Now, with breathing room, will they continue down this path? I hope so. Otherwise more and more of the autos that we drive will be made in places like Korea, Mexico and China.
    2. Will GM become more conservative or take more risk with new product development? With GMAC as a cushion, GM had a wider tolerance for error in product development and marketing. Without the cash flow from GMAC, they’ve got to hit it straight much more often — will they aim short or long?
    3. Does this mean that GM will keep Saab, Daewoo and the like? I think that it does. GM needs Saab to develop world-class vehicles. GM also needs Daewoo for low-cost manufacturing and access to the Asian market. Again, I’ll say that Saab is much better off in the GM fold than in some shaky portfolio of a venture capital firm or within a smaller boutique automaker like Porsche or on its own. The distribution network, the parts bin and the manufacturing prowess of GM are doing Saab a lot of good. Aero X wouldn’t live without GM’s money. Solid.

  4. Sad… I like George W. To find out that he has that arrogant Swedish blood running through his veins is a real shame.

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