GM palns to spin off parts division

Article Abstract:

Troy, Mich- based Delphi Automotive Systems, an auto parts subsidiary of General Motors Corp. with 200,000 employees, will be spun off by its parent in a radical shift away from the 1970s corporate strategy of vertical integration. GMs new strategy, which focuses on the assembling and marketing of motor vehicles rather than the manufacturing of parts, has elicited a strong negative reaction from the United Automobile Workers union, which is concerned that the spinoff will lead to worker layoffs.

Comment:

Troy, Mich- based Delphi, an auto parts subsidiary of General Motors Corp. with 200,000 employees will be spun off

Motor Vehicle Parts, Motor Vehicle Parts Manufacturing, Parent-to-subsidiary activities, Subsidiary-to-parent activities, Automotive parts, Delphi Corp.

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General Motors posts loss of $809 million

Article Abstract:

General Motors Corporation (GM) posted a $809 million loss for the third-quarter of 1998. The loss was primarily attributable to the almost eight-week labor strike in 1998 that paralyzed GM's North American operations. The company posted a $1.28 diluted share loss for the quarter. However, this was slightly higher than what analysts had predicted. GM's operations in North America continued aggressive cost reduction moves.

Comment:

Posts $809 million loss for the third-quarter of 1998

Sales, profits & dividends

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