GM plans overhaul of marketing

Article Abstract:

General Motors will reorganize its marketing section and will name a new head for its European operations. GM also plans to spin off its Delphi auto parts business after the strikes in Flint, MI. The strikes that cost about $2.5 billion in lost production for GM were recently settled. As part of the marketing restructuring, four division general managers, responsible with auto lineups up to paint colors, will be replaced with three executives. The marketing overhaul will affect all GM divisions, except Saturn and Cadillac. Meanwhile, GM will sell 15% to 20% of Delphi in an initial public offering in 1999, and eventually spin off the rest to GM shareholders. GM is likely to name Michael Burns, general manager of GM's Delphi Delco, as the replacement of GM Europe President Richard Donnelly.

Comment:

Will reorganize its marketing section, will name a new head for its European operations & plans to spin off Delphi in 1999

Europe, Asset sales & divestitures, Executive changes & profiles, Motor Vehicle Parts Whsle, Motor Vehicle Supplies and New Parts Wholesalers, Automotive parts wholesalers

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GM sees Asia as ripe area for expansion

Article Abstract:

General Motors CEO Jack Smith said the company is looking at expanding in Asia, particularly through alliances and acquisitions. The automaker wants to increase its share of the region from 4% to 10%. However, the company is not yet ready to accept an offer from South Korea's Daewoo for up to a 50% stake. Smith said Daewoo's soaring debt is pulling back GM to invest in Daewoo. GM is also concerned over the eroding value of yen, which allows Japanese automakers to sell their products at lower prices.

Comment:

CEO Jack Smith says the company is looking at expanding in Asia, particularly through alliances and acquisitions

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Merger of two equals appears to be unequal

Article Abstract:

Daimler-Benz AG and Chrysler Corp merged operations in Nov 17, 1998, as two equal giants of the automotive industry. However, the Geneva Motor Show, which was set for the global launch of DaimlerChrysler's first Mercedes, the new CL coupe, gave an impression that German executives were in control over the merged entity. Chrysler executive Robert Eaton dismisses the impression and speaks of co-equality with German counterpart Juergen Schrempp.

Germany, Daimler AG, DaimleChrysler

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