I have been enjoying reading the news these past few days, perhaps in a perverse sort of way. Pundits and prognosticators are all forecasting the pending doom of the worlds largest automaker as if the approaching layoffs and restructuring are signaling the venerable automakers end. Certainly, GM has some problems big ones but the company isnt likely to go away or even file for bankruptcy. The news isnt all that it seems to be on this subject eitherGM will survive and likely thrive in the decades ahead.
Okay, I am not crazy. Could GM go away? Of course, as could any poorly managed company. Yes, executives are overpaid and so are union workers. ThereI said it. GM has been taking it on the chin from Asian automakers for three decades now and their U.S. market share continues to dwindle. Still, it isnt doomsday for the general. Far from it. Here are some things that I believe GM is attempting to do to as they restructure.
Reduced Legacy Costs GM won an important battle with its unions to force workers and retirees to pony up more money for their share of rising healthcare costs. Before you cry foul most Americans are paying heavily for their health...
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