Detroit news gives some insight

Sign up, and you can make all message times appear in your timezone. Sign up

Report problem with this ad

Apr 20, 2017
7:23:02am

cougarmanguy All-American

Detroit news gives some insight

Apparently the Venezuelan plant has been a serious drain on profit for years and investors are pleased it was finally shut down. Shares for gm are up slightly

http://www.detroitnews.com/story/business/autos/general-motors/2017/04/20/general-motors-venezuela/100685866/

Report problem with this ad

cougarmanguy

Bio page: cougarmanguy
Joined: Jul 10, 2012
Last login: Mar 15, 2020
Total posts: 73,268 (28,671 FO)

Report problem with this ad

Messages

Author

Time

Venezuela seizes GM plant that had been operational for more than 70 years

4/20/17 6:45am

The plant was already there and already producing. GM was likely well aware of

DapperDan

4/20/17 6:51am

Maybe. But it was going to be seized at some point

4/20/17 6:53am

same reason people build in california knowing there will be big quakes later

BYUtiful

4/20/17 6:58am

Maybe GM was trying to get the new plant built before shutting down the

WDaddy

4/20/17 6:59am

No indication that they were trying

4/20/17 7:06am

No indication they werent.

WDaddy

4/20/17 7:09am

What am I missing here

4/20/17 7:10am

Fat fingered and now corrected

WDaddy

4/20/17 7:12am

As Dapper said, GM probably considered it more profitable to risk it than move.

Baron

4/20/17 7:05am

Of course I didn't do a cost-benefit analysis but now they don't have a plant at

4/20/17 7:07am

I guess it does based on people's assumptions. It doesn't seem odd to me. I

Baron

4/20/17 7:10am

Doesn't mean they aren't trying. Perhaps GM has capacity in other plants and was

WDaddy

4/20/17 7:11am

Detroit news gives some insight

4/20/17 7:23am

With, what seems, no desire to replace it at all

4/20/17 7:23am

No surprise at all. South America is a tough place for auto to do business

Tokolosh

4/20/17 7:58am

GM's South America business has been deteriorating for a while. They just sold

Mike Honcho

4/20/17 7:52am

Almost a billion dollar hit

4/20/17 8:04am

Clean house and throw everything in there including the kitchen sink

WDaddy

4/20/17 8:20am

<< Deleted >>

JimmyZ

4/20/17 7:42am

<< Deleted >>

Abe Froman

4/20/17 8:10am

Report problem with this ad

Posting on CougarBoard

In order to post, you will need to either sign up or log in.

Report problem with this ad