GM. General Motors. 3,20,000+ employees.
Revenue in 2005 : 192 billion$. To put that into perspective, this is 2.5 times the value of India's exports (2005 f.o.b). Their headquarters, Renaissance Center, Detroit, refects this:
- 2.2 million square feetRevenue in 2005 : 192 billion$. To put that into perspective, this is 2.5 times the value of India's exports (2005 f.o.b). Their headquarters, Renaissance Center, Detroit, refects this:
- 73 stories
- Bought by GM in 1996 for....a piddly 72 million$. That's about 324 crore Rs....not bad...that might be piddly for the Ambanis as well!
And yes, GM is also loss making as of now. Net income = -10 billion$
Interestingly, while GMs CEO had to justify his position in the face the losses, Ford's CEO, Bill Ford, has it much better. Reason: The Ford family's voting power is about 40% all investors put together. Read more here.
And yes, GM is also loss making as of now. Net income = -10 billion$Interestingly, while GMs CEO had to justify his position in the face the losses, Ford's CEO, Bill Ford, has it much better. Reason: The Ford family's voting power is about 40% all investors put together. Read more here.
3 comments:
GM is loss making? Of all the things... next we'll have MS supporting Linux nd Wal-Mart going out of business ... Who's responsible for this?
Yes, sir...but to be honest, it's their first loss after 1992.
The two big reasons for the loss apparently are:
1) Rising fuel prices forcing prospective buyers to look at other low-cost options
2) The massive health-care bill that GM foots for its employees (i think includes ex-employees as well, but not sure)
Another big reason is the Delphi bankcruptcy - GM had to fund pension/other benefits for the 33,000 employees in that unit.
Also, have updated the post slightly...added number of employees and a para at the end
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