GM was the world's 18th largest corporate entity and third largest automaker as ranked by 2008 revenues in United States.
Ranked by global unit sales for 2008, it was the world's second largest automaker. GM manufactures cars and trucks in 34 countries, recently employed 244,500 people around the world, and sell vehicles in some 140 countries.
GM plans to focusits business on its four core US brands — Chevrolet, Cadillac, Buick, and GMC. GM decided to retain full ownership of these operations.
General Motors was founded on September 16, 1908, in Flint, Michigan, controlled by William C. Durant. In 1909, Durant brought in Cadillac, Elmore, Oakland and several others. Also in 1909, General Motors acquired the Reliance Motor Truck Company of Owosso,Michigan, and the Rapid Motor Vehicle Company of Pontiac, Michigan, the predecessors of GMC Truck. Durant lost control of GM in 1910 to a bankers' trust, because of the large amount of debt taken on in its acquisitions coupled with a collapse in new vehicle sales. A few years later, Durant started the Chevrolet Motor car company and through this he secretly purchased a controlling interest in GM.Durant took back control of the company after one of the most dramatic proxy wars in American business history. Durant then reorganized General Motors Company into General Motors Corporation. Shortly after, he again lost control, this time for good, after the new vehicle market collapsed. Alfred P. Sloan was picked to take charge of the corporation and led it to its post war global dominance. Thisunprecedented growth of GM would last into the early 1980s when it employed 349,000 workers and operated 150 assembly plants.
General Motors has an extensive history in numerous forms of racing. In particular, the Chevrolet Corvette has long been popular and successful in international road racing. GM also is a supplier of racing components, such as engines, transmissions, and electronicsequipments.
GM previously led in global sales for 77 consecutive years (1931 to 2007), longer than any other automaker.
The following table is a comparison (estimates) of the new GM and the old GM:
Old GM (1908 - 2009) | | New GM (2009 - ) |
Buick, Cadillac, Chevrolet, Daewoo, GMC, Holden, Hummer, Oldsmobile, Opel, Pontiac, Saab, Saturn, Vauxhall | Brands | Buick, Cadillac, Chevrolet,Daewoo(44%), GMC, Holden,Opel, Vauxhall |
5,900 | US Dealerships | 3,600 |
Common shareholders, bondholders and secured creditors | Ownership | The United States Treasury, the Crown in Right of Canada, Old GM bondholders, and UAW union |
47 | US Plants | 34 |
$176 billion | Debt | $48 billion |
91,000 | US employees | 68,500 |
The family Lopez has lived in Mexico for their entire life. By2001, they developed their new own business based on agriculture, and manufacturing. They mainly produce corn and other kind of things. Their Business has been working extremely well, but the government controls the most vital sectors of their Business’s economy and regulates it. The economy is managed through a central planning system. It has their own owner, but the government involvement isessential for setting the price of the basic things. The private sector is dominant in agriculture. The main motive for increasing the price is the increasing of demand so, when family Lopez needs to produce more corn, government help them economically to increase production but they still set and regulates the price.
As it is in Mexico there is an extreme level of poverty, as a consequence ofeconomic problem there is a traditional list of "basic needs" is food (including water), shelter, and clothing. Government regulate and adjust the prices of the Basic needs in support of people who do not have a magnitude of money and cannot afford things the need to survive.
By Monica Serrano
Almudena Borgia visited Mexico, for several reasons, she came all the way down from Spain to see that...