The Detroit Free Press are opining that things may well get a little tougher for GM now that Kirk Kerkorian has sold his ownership stake in the company. Whilst the shadow of KK and his minion Jerry York loomed large in Rick Wagoner’s office, it also cast its pall over the UAW, who perhaps got a sniff of the tougher conditions that would come if a KK-induced bankruptcy were to eventuate.
With Kerkorian gone, perhaps the UAW will breathe a little easier and take a somewhat tougher stand in ongoing negotiations. With GM still enduring legacy costs of around $3,500 per vehicle, it’s something that GM can ill afford.
Somehow though, I don’t think Wagoner will be calling Kirk to return. And it’s quite possible that Kirk’s sold his stake with plans to watch the stock price drop, then swoop in with a stronger position.
They’re just my thoughts. If it happens, though, Saab will be even more vulnerable than it seemed ealier this year.
Another non-Saab related item for those that are interested….
Robert Farago’s GM Deathwatch series took an unexpected turn today, with a look at GM’s involvement in China and a consequent accusation of supporting oppressive regimes, with an honorable mention going all the way back to Germany in 1939.
He really has lost the plot. Critiques of the article in comments have prompted a decision to remove the article from the GM Deathwatch canon, however I’d be disappointed if that happened (update: it already has). One should remain accountable for all of one’s words, whether they’re sound or otherwise.
I spent yesterday in the company of some fine people and their fine machines, including a 9-5 Vector, two 900 Aeros, a 9000 Aero and a 9000 Carlsson.
That’s a most pleasant lineup of vehicles.
The event was our car club’s annual car-rally-slash-scavenger-hunt, which I was fortunate enough to triumph in this year, following a poor showing in our previous attempt three years ago. It didn’t matter too much to me, but I was very happy for my young stepson, Geoff, who at 15 did a much better job of navigating than his previous effort (when he was all of 12 years old!).
He was pretty chuffed and it’s good for a kid to get a win every now and then as they’re growing up.