Generally Speaking16 Jul 2008
It is common knowledge that the city of Arlington in Texas has no public transportation. It is a large city whose streets are packed with cars, students and Dallas Coyboys fans soon enough. Befitting that it is also the only city where GM will continue to produce the SUV.
It's no secret that a lot of industries are feeling the gas crunch. GM
- GM is losing one billion dollars every month.
- Four North American GM plants will close.
- GM is cutting health insurance for retired employees.
That last bit is really terrible in my opinion. Instead of leaving that kind of mark on your legacy, find the money somewhere else. The people who spent their lives in your service are worth more than the phrase "Times are tough". It shows current employees that they have no future with the company.
I have to remind myself at times, this is the way the market sorts itself. I think often times we are so comfortable with institutions we've known our whole lives that we forget there are a dozen or more competitors who are ready to step in and offer what the market wants.