Saturday, July 01, 2006

A Dream or Nightmare?

Kirk Kerkorian does not dream small. He is a massive shareholder in GM and believes it has possibilities, but it needs to look at other ideas; like entering into a partnership with Renault and Nissan. Now to be honest I do not know enough about these companies to evaluate what the heck is going on here. I am clearly going to have to do some studying over the next few days.

GM Chairman Rick Wagoner is being, understandably, non-commital. You don't want to alienate one of the biggest shareholders but you don't want to do something stupid either. For the workers, it could be news that goes either way. If it secures GM's survival then it could be good news, but it could also result in less work being done in America as well. We'll have to see I guess.

Even Detroit News Auto Columnist David Howes is not certain what to make of this.

Meanwhile in Las Vegas, of all places, the UAW is having a consitutional convention and from what I am reading, I am suprised that the convention hall hasn't floated away from all the hot air being generated. The things they do with my union dues: bribe politicians and have conventions in Las Vegas. Like all politicians, UAW president, Ron Gettelfinger, is talking out of both sides of his mouth. Got adapt to modern realities but not turn back the clock. Oh ... and we gotta get the GOP out of power. (It amazes me how quickly they forget that Al Gore debated Ross Perot on NAFTA insisting that it would be good for American workers and John Kerry voted for NAFTA and GATT and Permanent MFN for China. I guess it's only a crime if non-Democrats do it.)


Blogger Tim said...

Nissan was really in a mess but their CEO has turned it around. Renault is another crap company like Fiat.
If they do this it will ultimately be bad for GM.

As far as politicians talking out of both sides of their mouth, our congressional delegation has been MIA on the Auto companies plight for awhile. I think that they need to be replaced, whether they be Dem or Repub. Only Dingell has been beating that drum.

Gettlefinger is in a hopeless situation whatever happens. I think the UAW may implode.

Afterall UAW stands for yoU Ain't Workin'...

12:50 PM  

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