GM BOND & SHARE HOLDERS TAKE NOTICE:

GM Stock n Bond Holders Take Notice

Workin 4 A Livin

Opinion: March 18, 2019… General Motors turns down sales in the U.S; while increasing manufacturing in Mexico.  Yesterday, Betram de Souza a Youngstown Vindicator writer reported on a recent “Power Point” presentation that reportedly, “Offered to buy thousands of Chevrolet Cruzes a year for five years from General Motors. The only proviso: The Cruzes had to be built at the company’s Lordstown plant.” The purpose of this offer to purchase, was to build an UBER Ride Share Fleet.

Today a Workin 4 A Livin investigative reporter has discovered that the actual number of Cruzes offered to purchase – by highly respected businessman Bernie Moreno of Cleveland, Ohio –  was NOT just “thousands”, but rather tens of thousands of Cruzes each year over a five year period.

Keep in mind, this tens of thousands of additional yearly sales would be on top of the 142,000 Cruzes built last year at the Lordstown, Ohio Assembly Plant. Reportedly, this aggregate number would have likely retained 2 shifts at the Lordstown plant for the next 5 years.

I recall in 1978 GM CEO Thomas Murphy defining General Motor’s purpose as: “To give the customer; What they want… When they want it… At an affordable price.” This current action, by the current GM CEO Mary Barra leadership team , most assuredly flies in the face of G.M.’s defined purpose by “true automotive executives” who truly knew the auto industry, and such corporate governance de-facto jeopardizes the price of General Motors stock share value, and the bond values.

This latest revelation begs for the G.M. Stock and Bond holder activists to bring their power to bear on the current G.M. leadership, and demand a change in not only this current leadership, but also in this “U.S. Corporate Citizen’s” overall plan as they continue to target the U.S. Market to sell their vehicles, while at the same time, reducing overall affordability through wage suppression and job “off-shoring”.

While you are at it, review and put an end  to G.M.’s policy on “Corporate Life Insurance” aka “Dead Peasant’s Insurance.”

The principles had the following to say to Betram de Souza regarding this matter:

General Motors – Daniel Flores, GM Corporate spokesman:

[Keep in mind that G.M. CEO Mary Barra has publicly stated; The small car is not selling, and we have had to make tough decisions.}

“GM leadership took into consideration a variety of market factors when we made the product and manufacturing-related decisions announced last November 26th. The decision to discontinue the Cruze was made in response to market-related declines in customer demand for passenger cars. We don’t believe this segment is viable for us.

“These were very difficult decisions because we know they impact people, families and communities. We’ve been successful with offering job opportunities for Lordstown employees at other U.S. plants that build products in growing market segments.

“The long-term disposition of the Lordstown facility will be determined in the UAW/GM contract negotiations later this year.”

Mr. Bernie Moreno – Distinguished and reputable Businessman of Cleveland, Ohio:

Stated;”He had signed a nondisclosure agreement and, therefore, could not say anything.”

UAW International Union – Brian Rothenberg, head of public relations:

Stated; “The international had not heard about the Moreno offer, but pointed out that UAW International President Gary Jones has said the union is ‘committed to leaving no stone unturned.'”

Not a single principle denied that the Power Point offer existed, and the International UAW leadership has another “unknown” stone to turn over and examine.

Also, does this raise to the level of TREASON?

 

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