GM sees costs as high as $500 million to debug year 2000 computer glitches

Article Abstract:

General Motors anticipates spending $360 million to $500 million to repair its year 2000 computer problems, according to a filing with the Securities and Exchange Commission. Most of the investment will take place in 1998 to repair worldwide factories, engineering labs and offices. The leading auto-maker said measuring the year 2000 problem and introducing its remediation program cost approximately $40 million in 1997. Teams studied all aspects of GM's far-flung operations, including elevators and security systems, according to a company spokesman. GM's projection illustrates how manufacturing companies face 2000 costs similar to those of banks and financial-services companies. Chrysler and Ford declined to list their spending information but said they are seeking aggressive action to update all their software by the end of 1998. The Big Three all said that the year 2000 issue probably will not impact the operational safety of their cars and trucks.

Telecommunications systems, Year 2000 transition (Computers), General Motors Corp., GM, Company systems management, Information management, Motor vehicles, Year 2000 transition

---

On the block; DaimlerChrysler seems to see a good deal in mess that is Nissan; Japan's ailing auto maker needs cash, and more, after major U.S. flops; slogan on the speed bumps

Article Abstract:

DaimlerChrysler and Nissan top executives could accomplish a lot for their two companies at the products and technology exhibition in Tokyo. If the two firms went beyond a heavy-truck alliance, and the Western giant bought a stake in Nissan, or more, it could provide DaimlerChrysler with inroads in the Asian market, help Nissan out of some cash problems, and give them both more strength against competitors.

Comment:

Talks could lead to partnership or more with DaimlerChrysler

Japan, Strategy & planning, Germany, Planning, Trucks, DCX, Nissan Motor Company Ltd., Daimler AG

---

Ford to pay $6.47 billion in Volvo deal; acquisition of car business is hailed as 'home run' for the U.S. auto maker

Article Abstract:

Subject to approvals all around, Ford will pay $6.47 billion in cash for Volvo Cars, further rounding out its line. After price was worked out, currency and the Volvo trademark were issues to contend with. Ford ended up paying mostly in kronor. The Volvo trademark can be used on cars, and small and medium trucks by Ford, but not on heavy trucks.

Comment:

To be bought by Ford Motor Co. for $6.47 billion in cash

Asset sales & divestitures, Acquisitions & mergers, Foreign operations, Sweden, Mergers, acquisitions and divestments, Ford Motor Co., F, Volvo Car Corp.

Similar abstracts:

• Abstracts: New Apple chief's pay package is placed at $10 million or more. part 2 NCR forming an alliance with Computer Associates; its hardware to match the other's software
• Abstracts: TCI takes back $125 million stake in Microsoft Network as strategies shift. Microsoft picks on-line news from PointCast
• Abstracts: U S West Media Group reports $133 million loss for 4th quarter. Cable firms consider removing ESPN from basic tier, passing costs to fans
• Abstracts: Despite privacy concerns, free PC's attract many consumers and schools. For fanatics, sports Webcasts
• Abstracts: Bumps in the road with Netcasts. Interview with the spammer. Hunting the elusive spammer

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.