GM needs to shut down, then reopen as another company in another country. If they do they can do what the Japs have been doing in the US for years. Start up in all new state of the art assembly plants built with a bonds issued by the taxpayers in some southern state, with none union employees that are trained in taxpayers supported state Vo-tex schools, that are paid an average $14 an hour less in wages and benefits, benefits that do not include a defined pension plan or any health care after retirement, to assemble cars of parts made primarily in low cost countries or purchased from other Japanese companies.
If they incorporate in Japan they will not need to pay any US federal corporate income taxes, like Toyota etal, on the profits earned in the US. Naturally being Japanese will make many buyers think they are 'better,; more costly to buy and maintain for sure, but 'worth' the price. ;)
mike
>
> "The good ship GM is still taking on water and it's still steady as
> she goes. Rick's turnaround plan- cut costs and build stuff people
> want to buy- remains unaffected. Don't get me wrong: it's a great
> plan, something along the lines of the classic "take in more money
> than you spend." Only it's not working. Quite aside from the fact
> that GM is still losing money, and has done so with remarkable
> consistency since we began the series (including a few truly
> spectacular financial quarters), Rick has failed to address the
> fundamentals dragging his employer into bankruptcy.
>
> The General still has too many brands, models, dealers, legacy costs
> and overheads. Its UAW contracts and overcrowded smorgasbord of
> lackluster vehicles still make it a high cost automotive producer
> trying to sell heavily discounted products in a highly competitive
> market. And Rabid Rick is still talking as if simple persistence-
> rather than radical change- is the key to GM's survival.
> Wagoner's comments to AN about the infamous jobs bank- the ultimate
> symbol of GM's management stupidity and union intransigence- tell
> you everything you need to know about Wagoner's reformatory zeal." >