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Newbiewar

Jerry York convinced Saab good for GM: Lutz

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Newbiewar    1

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GENEVA (Reuters) - General Motors Corp. Director Jerry York is now convinced the Saab and Hummer brands are good for the automaker, a month after he suggested GM get rid of them, GM's vice chairman of global product development, Bob Lutz, said.

"Saab has really turned the corner," Lutz said at a Saab event a day ahead of the Geneva Auto Show. "It is close to making money as a brand."

"Jerry made all those comments before he joined the board," he added. "He realizes that it was a suggestion he wouldn't have made if he knew all the facts."

York urged the No. 1 automaker in January to consider eliminating Saab and possibly Hummer in order to focus attention on turning around its money-losing U.S. manufacturing operations.

He had also asked the automaker to cut its dividend in half and slash executive pay as part of a broader restructuring effort.

York, adviser to GM's largest individual investor, billionaire Kirk Kerkorian, joined the company's board earlier this month.

GM in February halved its dividend and cut executive pay, but said nothing about its brands.

Lutz on Monday said York is now convinced about the Hummer brand as well.

Copyright 2006 Reuters

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Newbiewar    1

Well duh!

I'd be shocked as anything if this were not the case!

yea but more or less... This just goes to show, peoples perception looking at GM is wrong... i often have arguments regaurding GM's stock as its undervalued... and that its a buy... but many people are like... have you seen GM's cars? man they lost 8 billion... they are going bankrupt...

and i'm just like :o how could you be so clueless... :stupid:

if you paid any attention you could see their is a bright future....

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Newbiewar    1

Hmmm.  Sounds like York is "agreeing" with Lutz for the time being.  But it's doubtful he's for allowing Saab another 2 years of losses.  If the Delphi/Tower situation deteriorates and Saab does not post a profit this year then Saab is on the block.

Agreed York likes to see performance, if something isnt doing its fair part in the company, or dragging it down... :pokeowned:

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daves87rs    327

THere is still a very good chance that both Hummer And Saab WILL be gone.

Postitive news= a better selling price.

Don't let the smoke and mirrors fool you.

GM does have plans to cut back- better it be selling Saab then dumping buick...

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drew770    0

Saab is a great brand that just needs alittle attention from corporate GM. It doesn't need a complete turn around to attact buyers and it doesn't need to reinvent itself to gain younger buyers like Buick.

But, what Saab needs is a few great vehicles to carry the brand.

The 9-3 is already a good vehicle but the 9-5 is a 10 year old mess that needs a complete overhaul.

Hopefully York was shown the upcoming concepts and products and he was impressed enough to realize that it is an important global brand for GM.

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daves87rs    327

Saab is a great brand that just needs alittle attention from corporate GM.  It doesn't need a complete turn around to attact buyers and it doesn't need  to reinvent itself to gain younger buyers like Buick.

But, what Saab needs is a few great vehicles to carry the brand.

The 9-3 is already a good vehicle but the 9-5 is a 10 year old mess that needs a complete overhaul.

Hopefully York was shown the upcoming concepts and products and he was impressed enough to realize that it is an important global brand for GM.

Attention? Yes....

It's about due for a overhaul...

And to really have a chance, they have to do a lot better than the 9-3 and 9-5....

They really don't compete all that well.....

Put nicely, if GM can't do Saab right, they are better off getting rid of it.... :angry:

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Newbiewar    1

THere is still a very good chance that both Hummer And Saab WILL be gone.

Postitive news= a better selling price.

Don't let the smoke and mirrors fool you.

GM does have plans to cut back- better it be selling Saab then dumping buick...

saab and hummer have no assets... they are worthless... possitive news = stock prices going up, negative news, stocks go down... Saab has no value outside of GM, whomever would purchase the brand would be forced to spend billions in research and development to get any vehciles, because saab doesnt have any research teams, they have no chassis, and their only factorys are about to close...

same with hummer... Hummer is produced for GM, by a different company except the H3, is produced by GM... Hummer is just a name that's all the value it has... it would cost GM more money then its worth to sell the brands...

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