GM Continues Fire Sale
General Motors continues to sell its under-achieving brands and assets in an attempt to turn around the auto giants slumping sales and dismal financial reports. The latest sale that appears to be nearing completion is the sale of Oel and it's sister, Vauxhall.
Unfortunatley, it may all be too little too late for the former giant in the industry. In the 1980's GM had expanded into other markets and other industries to shore up its financial reports when it became clear they could not make money building and selling automobiles anymore. Short-sighted senior leadership called for better return for investors and sold all the profitable business that had been propping up the financials and they returned to their losing ways as an auto company. Now, they are looking to streamline and consolidate everywhere possible.
Only time will tell if it will be adequate, and timely enough to save the once powerful organization.
Unfortunatley, it may all be too little too late for the former giant in the industry. In the 1980's GM had expanded into other markets and other industries to shore up its financial reports when it became clear they could not make money building and selling automobiles anymore. Short-sighted senior leadership called for better return for investors and sold all the profitable business that had been propping up the financials and they returned to their losing ways as an auto company. Now, they are looking to streamline and consolidate everywhere possible.
Only time will tell if it will be adequate, and timely enough to save the once powerful organization.
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