Monday, April 20, 2009
The Politically Correct Way To Lose Money
The previous CEO at GM was more or less fired by President Obama so you can imagine that current management is working hard to stay in the Feds good graces. Towards that then was today’s announcement that GM Plans Layoffs of 1,600 Over Next Few Days.
GM is making the move, in part, because it “is under immense pressure to cut operational costs.”
Well, kind of:
“GM said it planned to spare jobs considered critical to its future, such as many associated with the Chevrolet Volt, a plug-in electric car.”
Huh? From March 30, 2009:
“GM is at least one generation behind Toyota on advanced, “green” powertrain development. In an attempt to leapfrog Toyota, GM has devoted significant resources to the Chevy Volt. While the Volt holds promise, it is currently projected to be much more expensive than its gasoline-fueled peers and will likely need substantial reductions in manufacturing cost in order to become commercially viable” White House Task Force Viability Summary
GM is making the move, in part, because it “is under immense pressure to cut operational costs.”
Well, kind of:
“GM said it planned to spare jobs considered critical to its future, such as many associated with the Chevrolet Volt, a plug-in electric car.”
Huh? From March 30, 2009:
“GM is at least one generation behind Toyota on advanced, “green” powertrain development. In an attempt to leapfrog Toyota, GM has devoted significant resources to the Chevy Volt. While the Volt holds promise, it is currently projected to be much more expensive than its gasoline-fueled peers and will likely need substantial reductions in manufacturing cost in order to become commercially viable” White House Task Force Viability Summary
