Blog: Happy bunnies at Tracinda?
Dave Leggett | 17 January 2006
I don’t suppose Kirk Kerkorian and his mates at Tracinda will be all that happy today due to a couple of things in today’s news regarding GM. First, Delphi’s Steve Miller has been telling the world that Wagoner is right behind him with a chequebook ready to assuage the concerns of the UAW – or at least that’s how some will see it. It is a tricky one, but some will argue that it would be better to play that support down at this stage. And second, a newspaper in Germany reports that GM’s Saab unit lost USD300 last year. The report cited sources from within GM; it is certainly plausible that Saab is still making hefty losses in spite of a very slight sales upturn in 2005.
I guess the Tracinda calls to offload Saab and cut GM’s brand portfolio further may get louder. And if you were a Swede at Trollhattan contemplating the future when 9-3 and 9-5 saloons move to Russelsheim in 2009, you might just wonder if GM is the best custodian of Saab, even if it has shown a bit more interest lately.
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