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POLITICS - USA - GM: "The capacity cuts are too little too late, and the rest is really nothing new"
NEW YORK,NY,USA - Forbes,by Dan Lienert -06.07.05: -- General Motors plans to reduce its U.S. labor force by 25,000 or more by 2008 and cut assembly capacity, saving some $2.5 billion a year, the company's chairman, Rick Wagoner, told its annual stockholders' meeting... he discussed too, GM's plans to close several assembly and component plants over the next few years... wrote professor Peter Morici of the University of Maryland's Robert H. Smith School of Business: "He needed to explain to shareholders what percent of the market GM can hold and then map out how he will win it. He needed to explain how GM will cut nonmanufacturing costs such as product development costs and management overhead. He did none of those things". Added Morici, "The capacity cuts are too little too late, and the rest is really nothing new"...
posted by Unknown @ 10:55 AM
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