Billionaire investor Kirk Kerkorian was the person who orchestrated Chrysler’s sale to DaimlerBenz a decade ago. Now he’s trying to do it again with troubled GM, but this time he’s trying to sell it to a Japanese company instead.
NY Post reports a Japanese buyer could be a giant like Toyota or Honda but nothing is comfirmed yet. 88-year old Kerkorian made USD3 billion with the Chrysler sale in the early 90s. Now he has to convince an Asian buyer to take the ailing American automobile manufacturer off his hands. Can he do it? This would be interesting.
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I'd say GO GM!!!!!
Even the goliath in the industry is now falling and we keep on comparing our small car industry with the whole parts of the world.
i hope that our fantastic 4(New P1CEO) will buy GM……. just like lotus…. at the end of the day, P1 financial report will show lost, just like MV AGUSTA…. AHAK AHAK HAK AHAK AHAK
Darn, suddenly after I read this I'm dreaming about having Buick or Pontiac with reliable Japanese quality. Just dreaming anyway………..
Pontiac is such a sporty brand. I wonder why GM never tried to bring it to Asia. Instead they bring in some 'Made in South Korea' Chevy's (which I think they look ugly). Oh, not the Chevy Aveo however.
Buick is nice looking also what?
I think GM want Pontiac and Buick exclusively for US or Europe (not sure if there is Pontiac in Europe(right hand drive cars). Maybe GM tot asian cannot afford these cars. or GM dont want/have right hand drive patent for buick or pontiac….hahahhahaha….bash GM lah, dont always bash P1…
too big to chew man, could be bad to take over them…. time will tell.
LOL maybe Our government will used up all our national reserves, then help Proton to buy GM…. then be proud of it. LOL
ask Proton to buy lah
either TOYOTA or NISSAN, seems too big for them ah… if is true, their finiancial report at least 3years will show lost… emm…
in fact, will US govt approve such merge? this will involve monopoly to the market… emm…
cheers…
proton can afford GM alright… but you all have to give up your country in order to buy GM. lol
Man, I love this Kerkorian guy.
He is the man knows the automotive industry very well. This year I heard he was planning to buy some Volkswagen AG shares.
Wah lau eh…
big man playing giant games… for me… good quality & cheap car, ok performance then will gain my support…
automobile market monopoly it brings a very bad impact to car owner /buyer,
may be, in future we need 80k to buy a small car like kancil.at that time , i rather take bicycle.
From i what i know, General Motors had a total asset of 16 Billion US Dollars, Ford had around that as well. But Toyota had a CASH FLOW of 58 Billion USD. Which means if Toyota wants, they can buy up the world's largest, and second largest automobile manufacturer at once. I don't think Malaysia Government had that kind of cash reserves.
Paul, can you please get us the updated info on who's the biggest, to the smallest automobile manufacturers please? i dunno where to get it. What i know is:
1. GM
2. Ford (Toyota surpassed them earlier this year, now i dunno)
3. Toyota
4. Volkswagen
5. Fiat/PSG (Peaugot, Citroen)
.
.
.
.???
gosh… sometimes play business too big also no use..
this is faith.. haih..
onitofo lor..
Just checked the group financial results from the official websites of the GM & the Japanese Big 3. GM results are for FY2004 because FY2005 ends on 31st December. Japanese Big 3 results are as of Q2 which is September 05:
Cash Reserve Chart:
1) GM – USD36 billion
2) Toyota – USD14.06 billion
3) Honda – USD6.06 billion
4) Nissan – (USD35.60 billion) I only see the net debt entry; couldnt see any cash entries.
Total Assets:
1) GM – USD479.6 billion
1) Toyota – USD217.71 billion
2) Nissan – USD87.92 billion
3) Honda – USD77.27 billion
FYI, I just plucked the figures (in Yen but converted online @ xe.com) from the accounting sheets. I do not know whether or not the Japanese accounting standards and the American standards are consistent. GM's long-term debt for the Automotive operations are ~USD35 billion.
Maybe some accounting guys whom are browsing this site out there want to translate the figures to us.
Bob, you're quite right about Toyota's cash reserves. I read an article in Motor Trader about Toyota and their cash power. Also came across the same figures in some other business magazine (forget which one). Toyota can quite easily buy GM lock, stock and barrel.
proton badge might change again. this time to resemble both lotus and gm
MutantTomato said,
December 12, 2005 @ 7:58 pm
Bob, you’re quite right about Toyota’s cash reserves. I read an article in Motor Trader about Toyota and their cash power. Also came across the same figures in some other business magazine (forget which one). Toyota can quite easily buy GM lock, stock and barrel.
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Thanks, at least no one will think i got it wrongly….. :)
I think neither Toyota nor Honda will make a suicide move like buying GM.. they are just too deep in shit.. i mean debt.
what might happen will be GM goes bankrupt.. and then their respective parts will be sold off to whoever wants them.. maybe Chevy will be bought by SIAC, Cadillac by Nanjing, Holden bought by whoever, and Opel by whatever..similar to how DC's stake in Mitsu was taken over by Goldman Sachs… maybe Proton can get in on the deal…not!
if the japanese do take over GM… it will be known as Gennuro Mottor (trying very hard to say it in a Japanese accent!).. ok.. bad joke…
yeah… Although Toyota and Honda can buy GM, they won't… It would really be a bad business move. Its not that GM is a bad company or anything. They do have some good established marques under their wing. IMHO, it would be a disaster more because of the American work ethics.
What I mean is, one of the main reasons why GM is in the state it is now is due to workers' unions. The problem in America is unions are too strong. Although this may seem to be a good thing, i.e. the workers don't get screwed over by the employers, too much of this is bad as well. Problems arise when the unions start demanding compensation for every damned thing! The company has no choice but to fulfill the demands. It can be anything from a simple dental plan, to a massive hike in wages.
Toyota has managed to stay profitable because although they run a large ship, they run a tight ship. Everything is carefully planned and everything is taken into consideration before a decision is made. Also, we cannot forget the legendary Japanese work ethics. :D
Actually everyone was saying like …. Toyota and Honda….. Honda is actually quite a distance from Toyota if it were about sizes…. Toyota is like… many times the size and capacity of Honda. Honda buying GM is a joke, Toyota buying 3 GMs is not.
"Consolidated debt outstanding was $285 billion on September 30."
What a super duper huge debt!!!
Source
Paul,recently ur news update very slow,like no new research done,is it?
Break GM into various brands, then only can sell……….bits n pieces……
None of GM brands excites me, damn ol boring design………and less practical……….
But others hv diff views…….hehehe…..
This is how Kirkorian make more money….
Hi Guys,
Do you all think the "Great" Yankees gonna sell it to the Japs? In your dream lah..if so there it goes all the mighty Bush to Koizumi. There it goes the Pearl Harbour past history. Even when M'sia and ASEAN countries didn't invite the US reps for the Summit meeting they had make a lot of noise and potraying that the ASEAN talk for the East Asian Summit (EAS) will not definately bring anything into reality.
Unless if DrM can go and meet the GM top official and convince them that Proton would be able to save the ailing GM. So the best word to DrM…in your dreamlah…!!! Glove box Proton Wira pun masih senget after 15 years in the market…go and rectify it first b4 start talking about someone else fault…look at yourself first in the mirror lah…you should have make M'sia the "Detroit of Asia" and creat more job to M'sians and give M'sians a better choice of cars rather than the f…king Proton with 1001 of problem since 20 years ago.
Stay away from the current Proton Mgmt, let them do the thinking…I'm sure out there a lot more talented M'sian than your Ahli Majlis Tertinggi UMNO and your sons. Keep quite lah…