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Essay / Research Paper Abstract
A 12 page paper assessing the 2005, 2006 and 2007 business results of Ford and GM. At a time when all are crying for loans from congress, it is evident that the current financial distress among the former "big three" has been building for some time and should have taken no one at all by surprise… Bibliography lists 17 sources.
Page Count:
12 pages (~225 words per page)
File: CC6_KSfinStmtGMford.rtf
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Unformatted sample text from the term paper:
strike quickly and often without warning. Hurricanes form east of the United States and give a few days warning before striking. The current financial distress among the former
"big three" has been building for some time and should have taken no one at all by surprise... 1. GM Overview Founded in
1908, GM formerly was the worlds largest company, supplanted in recent years only by Wal-Mart. Despite its current angst, GM has realized some amazing recent victories. In the
first general strike since 1970, a two-day strike at all of GMs US plants "resulted in a cost-saving labor deal that could make the company more competitive with nonunion rivals.
It also created a trust fund for retiree health benefits, the first of its kind for autoworkers" (Fortune 500, 2008). This is far removed from the traditional adversarial
relationship that has existed between the US auto industry and labor unions for decades, but it was an agreement that GM could not afford.
GM currently is striving to enter recovery mode. "High gasoline prices, weak auto sales, layoffs, buyouts and a looming recession helped shrink sales 12% and led to a
$39 billion loss" (Fortune 500, 2008). Of course the same poor conditions exist for the entire industry and not only for GM, but it is GM that has lost
most by virtue of its large size. 2. Ford Overview Quality continues to improve in Detroit, but it faces a new dilemma that
analysts have been predicting for years: the demise of the truck and truck derivatives and a return to greater interest in passenger cars. Neither GM nor Ford has been
...