GM is taking a 7% stake in Puke-jo. I don't get this kind of business decision. GM washes it's hands of SAAB, (a company that has always built better cars the Puke-jo) and then forms an alliance with Peugeot?
Good old GM, once they start making some profits they do something unbelievably STUPID. But, if it fails, they will blame the French unions. Of coure everybody remembers the GM hookup with Fiat, cost them $2.5 billion IIRC. Get the bailout fund ready.
Good old GM, once they start making some profits they do something unbelievably STUPID.
Exactly. This is what happens when you bailout a poorly run, horribly mismanaged company without cleaning house. Sure, there are a few new faces at GM but overall, it's the same people driving that ship that ran it aground in the first place. There should have been a complete wipe-out of upper and middle management as a condition of the bailout. Of course, I'm not sure the government really has any ground to stand on when it comes to teaching proper management techniques.