GM may leave Detroit

[w¡n9Nµ7 §£@¥€r 123]

General Motors is open to considering moving its headquarters from Detroit, selling off U.S. plants and even renegotiating parts of its restructuring plan with its major union, the new chief executive said Monday.

...

A move by GM to leave Detroit would represent another blow for the economy of a region already reeling from the bankruptcy of Chrysler and the sharp downturn in auto manufacturing.

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The 100-year-old automaker has been based there since 1996.

http://www.cnbc.com/id/30682967

[Nagishkaw 510]

Not news here. We've known this for quite sometime.

[one...two...tree 2,762]

So they'd only exist on foreign soil?

[w¡n9Nµ7 §£@¥€r 123]

So they'd only exist on foreign soil?

Perhaps, or they might domestically relocate their corporate HQ. They wouldn't be the first. There's been a deluge of corporate HQ relo's in the last decade from the northeast and great lake states to the sun belt.

[one...two...tree 2,762]

So they'd only exist on foreign soil?

Perhaps, or they might domestically relocate their corporate HQ. They wouldn't be the first. There's been a deluge of corporate HQ relo's in the last decade from the northeast and great lake states to the sun belt.

What would be the financial advantage to closing up all their plants in Detroit, just to operate in another state? What's wrong with Detroit, the city? Or the state of Michigan?

[Sofiyya 1,687]

So they'd only exist on foreign soil?

Perhaps, or they might domestically relocate their corporate HQ. They wouldn't be the first. There's been a deluge of corporate HQ relo's in the last decade from the northeast and great lake states to the sun belt.

California is relocating to Colorado.

[Nagishkaw 510]

So they'd only exist on foreign soil?

Perhaps, or they might domestically relocate their corporate HQ. They wouldn't be the first. There's been a deluge of corporate HQ relo's in the last decade from the northeast and great lake states to the sun belt.

What would be the financial advantage to closing up all their plants in Detroit, just to operate in another state? What's wrong with Detroit, the city? Or the state of Michigan?

What isn't.

[w¡n9Nµ7 §£@¥€r 123]

So they'd only exist on foreign soil?

Perhaps, or they might domestically relocate their corporate HQ. They wouldn't be the first. There's been a deluge of corporate HQ relo's in the last decade from the northeast and great lake states to the sun belt.

What would be the financial advantage to closing up all their plants in Detroit, just to operate in another state? What's wrong with Detroit, the city? Or the state of Michigan?

You're misunderstanding. They may just move corporate HQ. That's quite common.

And why do corporations relo HQs? One word... costs. Cities cut property tax abatement deals, employers realize savings from salary arbitrage, etc.

So they'd only exist on foreign soil?

Perhaps, or they might domestically relocate their corporate HQ. They wouldn't be the first. There's been a deluge of corporate HQ relo's in the last decade from the northeast and great lake states to the sun belt.

California is relocating to Colorado.

So I hear. Arizona too, I'm told?

[Pooky 3,847]

If they go, it will be behind a giant tow-truck.

[Niels Bohr 72]

I drove a rent-a-car. The car is a 2009 Chevy Cobalt. I tell you. Even if it's a 4 cylinder, it gets approximately 24 mpg average! My mother 2004 Toyota Camry gets atleast 27 mpg with a larger engine. Heck my 4 cylinder 2008 Honda Civic gets around 31-33 mpg!

If US Auto-maker want to win me then do better with the efficiency #######.

[Mr. Big Dog 10,747]

I drove a rent-a-car. The car is a 2009 Chevy Cobalt. I tell you. Even if it's a 4 cylinder, it gets approximately 24 mpg average! My mother 2004 Toyota Camry gets atleast 27 mpg with a larger engine. Heck my 4 cylinder 2008 Honda Civic gets around 31-33 mpg!

If US Auto-maker want to win me then do better with the efficiency #######.

It's not just the efficiency. My ole' Nissan kind of sucks at that but you can't beat the reliability of that damn thing. 165K miles and not a damn thing wrong with it. Other than wear and tear parts (breaks, tires, belts), one transmission fluid change, a battery change and oil changes every 7.K - 10K miles or so, I haven't given that car any attention whatsoever. It just keeps on rolling.

[Ban Hammer 13,677]

If they go, it will be behind a giant tow-truck.

that's dodge.

[spookyturtle 9,466]

If they go, it will be behind a giant tow-truck.

Communist.

[Saddle Bronc 124]

So they'd only exist on foreign soil?

Perhaps, or they might domestically relocate their corporate HQ. They wouldn't be the first. There's been a deluge of corporate HQ relo's in the last decade from the northeast and great lake states to the sun belt.

What would be the financial advantage to closing up all their plants in Detroit, just to operate in another state? What's wrong with Detroit, the city? Or the state of Michigan?

Michigan has a rather business-unfriendly climate, exacerbated by its current governor (who was educated under "Wacky" Bennett's administration in BC) and also by corruption of Detroit itself (especially under Kwame Kilpatrick).

[Peikko 1,575]

Link

Top General Motors executives dump their shares at knockdown prices

Six of GM's most senior managers have sold their stockholdings in the company for a combined return of $315,000

Six top executives at General Motors have sold their entire shareholdings in the stricken carmaker for a knockdown price of $315,000 as the Detroit-based company teeters on the brink of bankruptcy.

Among those cashing out are GM's former head of product development Bob Lutz, a veteran Detroit figure who stepped aside to become a senior adviser to the company last month and who offloaded his 81,360 shares for $130,989 (£86,000).

Lutz's successor, Thomas Stephens, liquidated his stock, as did North America president Troy Clarke, manufacturing chief Gary Cowger, head of European operations Carl-Peter Forster and chief information officer Ralph Szygenda.

Ooops!