If your car company has a crisis every 10 years, you’re doing something wrong. Maybe they should switch to refrigerators or something.
Or better yet: be forced into Bankruptcy Re-Organization as they SHOULD HAVE BEEN back in 2009! The reason GM is failing *again* is because us taxpayers were forced to bail them out and GM learned nothing because of it.
In this case they aren't in crisis, they're actually doing pretty well. They're trying to avoid the next crisis.
Painful for the employees but probably smart business.
They already got out of that business!
Frigidaire
From 1919 to 1979, the company was owned by General Motors. During that period, it was first a subsidiary of Delco-Light and was later an independent division based in Dayton, Ohio. The division also manufactured the compressors for GM’s cars that were equipped with air conditioning. Frigidaire was sold to the White Sewing Machine Company in 1979, which in 1986 was purchased by Electrolux, its current parent.
While the company was owned by General Motors, its logo featured the phrase “Product of General Motors”, and later renamed to “Home Environment Division of General Motors”.
The company claims firsts including:
Electric self-contained refrigerator (September, 1918 in Detroit)[5]
Home food freezer
Room air conditioner
30” electric range
Coordinated colors for home appliances
General Motors is a company that has been victimized by $hitty management for decades, plus a $hit union. Both are in the process of picking the bones of a once great company. And they’ve had a lot of “government help” from the Obola Administration.