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Gawain

Kerkorian Sells Half of Stake in GM

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http://news.yahoo.com/s/nm/20061130/bs_nm/kerkorian_tracinda_dc

There hasn't been a lot of speculation, but I'm guess that in the face of a board unwilling to force some real change, he's no longer willing to push for the kind of change needed to help the company survive.
So I try and I scream and I beg and I sigh
Just to prove I'm alive, and it's alright
'Cause tonight there's a way I'll make light of my treacherous life
Make light!

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GM will be dead within 10 years. Ford in 7. Ford is already looking at spinning off over half their divisions as standalone companies or selling the brands to return to profitability. They had over 30,000 people take the early buyout option this week, roughly 45% of their hourly workforce is gone with that move. Its estimated the buyouts are going to continue to eat at the bottom line of Ford for the next 16 years due to the option many took of paid insurance until retirement and these are people in their early 30's or younger. The end of the domestic automaker is around the corner. It doesn't help that I'm the kid of a lifetime UAW Ford worker and still passed over the Fords with the discounts to get a Honda. :$

I'd sell any Detroit homes here soon before the big 3 collapse the rest of the way and leave an entire city unemployed. [:/]
Yesterday is history
And tomorrow is a mystery

Parachutemanuals.com

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