GM To Relaunch A Social Website

According to an article I just read, GM plans to unveil a redesigned social media and networking site that will feature executive blogs, user-generated content, and social networking tools. The relaunch site is www.GMnext.com. This is the automaker's effort to connect with a younger audience. I visited the site and though it was quite nice. I don't remember ever visiting the site before so I can't really say if there is a big difference, or any at all, between the original architecture and the current one. The site has plenty of options, plenty of things to do and is very user friendly, which makes this a plus for GM.

$700 Billion Bailout Bombs

Well, finally, it's over. Or it is for now. The House didn't pass the ginormous deal even after Bush and congress urged the decision. Even before the bill was rejected, Wall Street was in bad shape, as stocks continued to fall. What's next on Bush's agenda? Well, I for one thinks that he is going to try again. He'll probably have his administration think up a smaller bill to help Wall Street, even if just slightly. I wonder how Mr. Paulson is doing? Haven't heard anything from him since the "terrible" decision. He's probably saying to himself "you know what, I'm going to stay quiet, because if I open my mouth, I'm going to lose it, and then, all after the fact, regret it...." Oooops, I was wrong. I'm watching him live right now. Ha, he looks EXTREMELY nervous. Hope he doesn't suffer an anxiety or heart attack. Funny thing is, today's my birthday. And today's also the day this long, dragged out thing (situation) finally came to an end.

Volt to be 100mpg?!

U.S. regulators hasn't clarified it yet but the Chevrolet Volt could possibly be marked off as the first 100-mile-per-gallon car. "It's a huge milestone to beat 100 mpg. It's bragging rights," said Rebecca Lindland, an analyst at Global Insight Inc. in Lexington, Mass. I don't know why, but I though this was a past feat. The Environmental Protection Agency (EPA) has made it clear that testing guidelines hadn't been finalized as yet. So I guess if GM really manages to pull this off, the Volt would surely be their shining star. But when it actually hits mass production, it better be reasonably priced cause even with all that it's doing and all that it will be able to do, if it doesn't sell, GM will definitely slump.

NYU Professor Thinks It's Possible GM Will Have To Start From Scratch

Default expert Edward Altman said that "there is a 50 to 55% chance of GM default." I agree, as there are other large firms already on respirators. This could be a good thing for GM, though. They will be able to brainstorm new ideas and how to function in an era where we are now doing everything at once. Example, instead of choosing between preserving the environment and doing business at all cost, both are done simultaneously. Green marketing is now a major new concept, focused on products that are environmentally safe(r).

Proper Problem Solving

If you ask me, no one knows what to expect. It seems that all these officials don't even know what the (their) real problem is. And if this is truly the case, will anything get solved? I know what your thinking, a rhetorical question that has a formal answer(s). There hasn't been a final take on this $700 billion bailout and it has been floating around for some time now. With something this serious, this pressing, a decision should have been officially made (almost) as soon as the deviation arose. All that happened in Washington was nothing. No I'm wrong, what really happened was they all had friendly fun playing the "blame game." They were suppose to be working together to find a solution, but thier "game" ended in a stalemate. These apparently "smart" people obviously didn't learn a simple yet effective formula: what you (to) expect (after all, you must know what's expected, of you, your situation, your surroundings, and of others, etc), what actually happened, and if, any at all, there was a deviation, whether positive or negative.

Compressed Natural Gas

I recently read an article about yet another alternate fuel. Compressed Natural Gas (CNG) is one of many new "environmentally friendly" options to write out the use of our good old coal. I had no idea that there were so many different types of fuels available. There's, ofcourse, hybrids, clean-diesel engines, fuel-cell technology, ethanol (which actually sounds quite familiar) and more. So far, only one major CNG car is being offered to the consumer market, and it's the Honda Civic GX. CNG has been certified for Ford and GM, amoung others, so these corporation have the option of testing it out, to see just how "environmentally friendly" it really is.

Obama Is "Clearly" Ahead In New Poll

In a recent article I read, Democrat Barack Obama is ahead of John McCain by 9%. Since 2000, no Democratic candidate has had 50% or more support from pollers. Obama's percentage stood at 52%, while McCain's was 43%. Also, Obama is greatly favored over McCain, in terms of who the public thinks can better manage the U.S. economy (especially if something like what we are experiencing now occurs in the future). I agree totally that Obama is the better person overall, as he already exhibits managerial skills and performs managerial functions. Obama is already history, and hopefully, history will be Obama.

GM Gains Legislative Support

It's all been very gentlemanly so far. No name calling. No punches thrown. But a fight is brewing between heavyweights Toyota and General Motors over the way the government should support plug-in hybrid electric vehicles. Robert Wimmer, a Toyota research manager, told a Senate committee last week that proposed legislation "redefines plug-in electric vehicles to seemingly eliminate consumer tax credits for all but one plug-in vehicle design. Toyota believes this approach is counterproductive." The GM hybrid would be the main beneficiary of the bill, which would provide tax credits of up to $7,500. A plug-in hybrid being developed by Toyota might not qualify for a tax credit. The bill, as written, bases the credit on a vehicle's range in the electric-only mode. The Toyota design is expected to rely, more than the Volt does, on an alternating combination of electric and gasoline engine power.

My Comment (Personal Input):
What? I don't understand. GM is going to get a extra seven grand and change for making the Volt run solely on electricity? And only they benefit....quite unethical, it seems.

The Currently Messy Market

Volatility again swept the financial markets Monday as investors grew nervous about an amorphous government plan to buy $700 billion in banks' mortgage debt. Stocks fell sharply, taking the Dow Jones industrials down more than 370 points, while investors sought safety in hard assets such as gold and oil, which at one point shot up more than $25 a barrel. The dollar skidded lower, contributing to oil's surge, while the credit markets were still uneasy but not showing the frantic trading they saw last week. Oil's rise of $16.37 to a closing price $120.92 a barrel came as investors snapped up supplies to cover a contract that expired at the end of Monday's session. Gold, also in demand as a safe haven, rose $40.90 to $905.60. While investors last week were relieved that federal authorities were constructing a plan to relieve the nation's banks of their toxic assets, many weren't waiting for the details to emerge before seeking safety.

My Comment (Personal Input):
Everyone's losing their minds. Investors already know that it's all about risk in the stock market. And yet, now that this is happening, they're afraid. They are acting like a bunch of babies new to this world.

GM And The Economy "Running Out Of Gas"

"The Heartbeat of America" the ads for Chevrolet, General Motors' flagship brand of cars, used to boast. For better or worst, as the US auto giant celebrates its 100th anniversary this month, the company's health has never seemed more tied to the country's economic health. At a time when the US economy is spluttering, the country's most venerable car brand seems to be running out of gas. "General Motors is closely related to the old economy, the manufacturing economy that America was largely based for the good part of the last century," said Karl Brauer, editor-in-chief of automotive website Edmunds.com. As manufacturing declines in the new century, so has GM, that potent symbol of US industry. At its start, GM was known for being an innovative industry leader.

My Comment (Personal Input):
Now that the (U.S.) government (and the world) has a more pressing issue at hand, GM may be totally out of luck. Everything is increasing and the cost of living continues to rise. And with the possiblity of a global recession, things are really looking bleak. Seems like some sort of conspiracy....as someone or something must be somehow benefiting from these horrid events.

GM Shares Increases

Shares of General Motors Corp. soared Friday, buoyed by a huge rally in the overall market stemming from government plans to rescue banks from billions of dollars in bad debt. GM also may have gotten a boost from hopes that Congress will approve $25 billion in loans to the automotive industry. The Dow Jones industrials rose more than 375 points, bringing their massive gains to more than 785 points over the past two days. In afternoon trading, GM shares surged $1.54, or 14 percent, to $12.94 after topping out at $13.35 earlier in the day. Friday's climb came a day after the Detroit-based automaker's shares closed up $1.47, or 15 percent, at $11.40. Over the past 52 weeks, GM's shares have traded between $8.81 and $43.20.

My Comment (Personal Input):
Well good for GM. With all the bad they've been through, a little good is great. And if they somehow get their loan, they're gonna be in good shape. But that's IF they get the money.

GM Forced To Cancel Production Of A Compact

A parts shortage has forced General Motors Corp. (GM) to cancel compact car production slated for this weekend, a further complication as the auto maker strains to keep up with demand.
GM wanted to run two shifts this Saturday at a Lordstown, Ohio, factory that makes GM's most fuel-efficient U.S.-built cars, the Chevrolet Cobalt and Pontiac G5 coupe.
The company hasn't been able to satisfy demand for the Cobalt, a recent hot seller as consumers stunned by record fuel prices flock to more economical vehicles.
"We want to try to build as many as we can," GM spokesman Chris Lee said. " It's just unfortunate we can't do it this Saturday."
Regular weekday production remains unaffected, the company said. Lee declined to say which parts maker was responsible for the shortage.
Cobalt sales, up nearly 10% since the start of the year, fell 27% in August, a decline GM attributed to supply constraints.

My Comment (Personal Input):
Poor Gm. Affected negatively by gas prices again. Luckly, this is, or should, be a temporary problem. All other cars are still steadily produced.

GM Plans To Develop New Tecnology

GM is thinking futuristic and transformative technology that can boost innovation, enhance products, and cut costs. General Motors, with support from iRise and Capgemini, will discuss a new transformative technology being deployed enterprise-wide at the automaker that visualizes software applications before development. Capgemini, one of the world's foremost providers of consulting, technology and outsourcing services, enables its clients to transform and perform through technologies. iRise is the world's leading provider of visualization software for business applications. GM is incorporating visual modeling technology into its global processes to produce simulations that result in more user-friendly IT systems. Visual modeling, results achieved by GM, and future implications will be outlined at a press conference on Monday September 29.

My Comment (Personal Input):
Now this is what I'm talking about! New technology is always the way to go. And this can greatly boost GM's reputation. They can also gain more profit and start off strong towards another century of business.

GM Greatly Helps Out Delphi

General Motors has agreed to expand its bail-out of Delphi, its biggest parts supplier, by boosting the value of its financial support from $6billion to $10.6billion and implementing the aid package sooner than planned. Delphi has been in bankruptcy protection for the past three years and struggled to finalise a restructuring since a group of private equity investors withdrew in April. The parts maker’s problems have become a millstone for GM, its former parent, which is itself battling to staunch huge losses and dwindling cash reserves.Under the latest deal, announced late on Friday, the carmaker has agreed to assume responsibility for $3.4billion in Delphi pension-fund liabilities, up from $1.5billion previously, and to bolster Delphi’s balance sheet by $1.2biliion before the end of this year. The latest deal was partly driven by threats from the US Pension Benefit and Guaranty Corporation to put a $900million lien on Delphi’s foreign assets as security for the parts maker’s underfunded pension plan. Delphi will seek bankruptcy court approval for the deal on September 23.

My Comment (Personal Input):
Once again, a suffering firm. And a suffering firm helping a suffering firm equals suffering firms. Funny thing is, Delphi used to be owned by GM. It later spun-off and became a fully independent publicly held company (Hence its now name, Delphi Corporation).

One Of GM's New Vehicles

The Chevrolet Volt is expected to be the icing on General Motors’ 100th birthday cake this week. The much-promoted sedan, which will operate as an electric car in typical local driving, is intended to provide a jump-start for the company’s second century. By mobilizing its formidable marketing resources, G.M. has piqued interest in the Volt. The timing of the Tuesday event is fortuitous, for much more is riding on the Volt than whether a new model using experimental technologies will be a hit. For if the Volt succeeds, it could put the troubled company on a whole new path after 10 decades tethered to the internal-combustion engine. If it fails, it could drag G.M., and perhaps the entire struggling American auto industry, even further behind Asian competitors.

My Comment (Personal Input):
It will be interesting to see how the Volt does. I think that people are going to stick with foreign cars. They have been making hybrid cars for years. And older models are really cheap, so more people will be purchasing them.

General Motors, International Management and Cross-Cultural Competence

General Motors Corp., the world's largest automaker, has been the annual global industry sales leader for 77 years. Founded in 1908, GM today employs about 266,000 people around the world. With global headquarters in Detroit, GM manufactures its cars and trucks in 35 countries. In 2007, nearly 9.37 million GM cars and trucks were sold globally under the following brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, HUMMER, Opel, Pontiac, Saab, Saturn, Vauxhall and Wuling. GM's OnStar subsidiary is the industry leader in vehicle safety, security and information services.General Motors is the best selling auto maker in China. The Buick brand is especially strong, led by the Buick Excelle subcompact. Cadillac initiated sales in China in 2004, starting with imports from the United States. GM pushed the marketing of the Chevrolet brand in China in 2005 as well, moving the former Buick Sail to that marque. The company manufactures most of its China-market vehicles locally, through its Shanghai GM joint venture. Shanghai GM, a joint venture between the Chinese company SAIC and General Motors, was created on March 25, 1997. The Shanghai GM plant was opened December 15, 1998 when the first Chinese-built Buick came off the assembly line. The SAIC-GM-Wuling Automobile joint-venture is also successful selling trucks and vans under the Wuling marque (34% belongs to GM).
GM plans to create a research facility in Shanghai for $250m to develop hybrid cars and alternative energy vehicles.

My Comment (Personal Input):
GM covers/has a lot of brands. I didn't know that cadillac and hummer were/are GM vehicles. It's great that GM is such a powerful entity in our economy. But I feel that their plan to create a facility in Shanghai to develop more environmentally friendly automobiles is too little, too late.

United Airlines Hit Hard By Old News

A Nearly 6-year-old news story on the 2002 bankruptcy filing of United Airlines resurfaced on the internet on Monday, clobbering the airline's shares as some traders mistook the report as current and plausible news.UAL, parent of United Airlines, and several news organizations involved were blindsided by the resurrection of the Chicago Tribune article. UAL, which exited bankruptcy more than two years ago, demanded a retraction by the Florida Sun-Sentinel, where the out-of-date report first appeared.UAL shares fell 76 per cent to $US3 ($3.77) after the article was posted on the Bloomberg financial news service. The magnitude of the decline may underscore the lack of confidence investors have in UAL and the troubled airline industry in general. "A part of the reason why investors reacted so dramatically is because the airlines are on shaky financial footing," said Jim Corridore, equity analyst at Standard & Poor's.

My Comment (Personal Input):
I can't remember hearing about United Airlines in the past, when they were really facing problems. But it's obvious now that they are in pretty bad shape, due to a simple mishap. As a matter of fact, these big (N.Y./U.S.) industries that were successful for so long are going through tough times today. And so is our economy, in general.

The Begging Not-So-Big Three

Plunging auto sales, high gas prices and election year politics could help convince Congress to approve a $50 billion loan package to embattled U.S. automakers that Detroit's Big Three claim is key to their future success.
On Wednesday, General Motors (GM, Fortune 500), Ford Motor (F, Fortune 500) and Chrysler LLC reported monthly sales declines of at least 20% from a year ago, as American car buyers continued to turn away from SUVs and pickups and towards more fuel efficient car models.
The Big Three are now in the process of closing truck assembly lines and rushing to catch up with hybrid and other fuel efficient offerings from Toyota Motor (TM) and Honda Motor (HMC).
But with GM and Ford saddled with junk bond debt ratings and privately-held Chrysler with the thinnest capital cushion of the three, Detroit is caught in a credit squeeze that will make such investment difficult if not impossible. "Funding such a shift is a tough lift even under optimum circumstances," said GM spokesman Greg Martin. "The credit markets are suffering. You had this seismic inversion of the market where no one wants to buy a full-size truck." The $50 billion loan package, first proposed by the auto industry last month, has won the support of presidential candidates Barack Obama and John McCain as their campaigns eye key votes in Michigan and Ohio.

My Comment (Personal Input):
Between 2005 and now, GM alone lost more than $50 billion. That's a lot of money! And now all three companies are asking for one huge lump sum? Futile effort, if you ask me.

How Much Do I Know About Chapter 1

Question 1. What is management?
My answer: Management is being able to work with and through people to achieve business/organizational objectives.
Textbook answer: Management is the process of working with and through others to achieve organizational objectives in a changing environment.

Question 2. What is effectiveness?
My answer: Effectiveness is getting objectives done in a proper manner.
Textbook answer: Effectiveness is a central element in the process of management that entails achieving a stated organizational objective.

Question 3. What is efficiency?
My answer: Efficiency is getting objectives done quick/fast and measuring resources used relative to results.
Textbook answer: Efficiency is a central element in the process of management that balances the amount of resources used to achieve an objective against what was actually accomplished.

Question 4. What is offshoring?
My answer: Offshoring is sending jobs to low-waging countries.
Textbook answer: Offshoring is a controversial practice of sending jobs to low-wage countries.

Question 5. What is the internet?
My answer: The internet is a global network connecting PCs and business computers.
Textbook answer: The internet is a global network of servers and personal and organizational computers.

Question 6. What is e-business?
My answer: E-business is doing your business online to improve every aspect of your firm.
Textbook answer: E-business is a business using the internet for greater efficiency in every aspect of its operations.

Question 7. What are managerial functions?
My answer: Managerial functions are basic objectives that have to be carried out to bring about desired outcome to a company.
Textbook answer:Managerial functions are general administrative duties that need to be carried out in virtually all productive organizations to achieve desired outcomes.

Question 8. What are managerial skills?
My answer: Managerial skills are observable practices that an effective manager exhibits.
Textbook answer: Managerial skills are specific observable behaviors that effective managers exhibit.

Question 9: What is a small business?
My answer: A small business is a private and profit-seeking venture with fewer than 100 employees.
Textbook answer: A small business is an independently owned and managed profit-seeking enterprise with fewer than 100 employees.

Question 10. What is entrepreneurship?
My answer: Entrepreneurship is the practice of going for an opportunity with little or none of the resources needed to fully start/function.
Textbook answer: Entrepreneurship is the process of pursuing opportunities without regard to resources currently under one's control.