Originally Posted By: el_zorro
This is a predictable move by GM. They are a company that has their back against a wall and they have to start liquidating assets. Frankly they dont have much choice.....
This could be a harbinger for what will happen quickly to the big 3 US autos. Dismantling and selling off big pieces of the empire.
Your prediction would have been prescient back in the 1980s, but what you anticipate is something that GM and the others have been doing for more than a decade. Who owns GMAC? Not GM. What military equipment does GM make? Not much. Does Chrysler still make Abrams tanks? No. Does Ford still own Jaguar and Land Rover? No.
From Wikipedia: "In 1985 General Motors purchased Hughes Aircraft and merged it with Delco Electronics to form Hughes Electronics Corporation, an independent subsidiary. In 1997 all of the aerospace and defense businesses of Hughes Electronics (Hughes Aircraft and Delco Systems Operations) were merged with Raytheon, and the commercial portion of Delco Electronics was transferred to GM's Delphi Automotive Systems business. Delphi became a separate publicly-traded company on the 28 of May 1999, and continued to use the Delco Electronics name for several of its subsidiaries through approximately 2004."
Delphi, Delco, Hughes -- all were once part of GM, and now they're not because GM needed to raise cash. And the cash is gone.
Ford still has a few assets, which it has decided not to sell. GM and Chrysler have sold everything worth selling.