Speaking at a press conference in Dubai, Maureen Kempston Darkes, Group Vice President and President of General Motors for Latin America, Africa and the Middle East, said that, despite the Detroit-based automaker’s woes, “bankruptcy is not an option that GM is considering.”
In charge of the burgeoning Middle East market, Darkes ranks among GM’s most influential and important leaders. She said that for the automaker to declare bankruptcy would “not benefit our customers, our dealers or our employees.”
She went on to reiterate GM’s stance on seeking federal funding from the United States government.
“There is a strong need for coordinated federal action,” she told gathered reporters.
When asked about how GMAC, GM’s financial arm part owned by the automaker and part by Cerberus Capital Management, would fit into the automaker’s future plan, Darkes said, “Who knows? Times change and we will have to see how that develops.”
“The problems in the markets and credit markets can handicap the pace at which we can transform our business.”
10/14, 9:22 AM
posted by:
pmpvtkc
Like what was she going say, like “oh no, we’re in deep ****”? Of course they have to say the right thing. Wake up GM, you’re going down.
10/14, 9:34 AM
posted by:
pavlindrom
…and thousands go unemployed => higher taxes or more thieves.
10/14, 10:13 AM
posted by:
johnnycanuck
The lady has a strong penchant for stating the obvious. She must drive a Hummer with a winch in order to tow the corporate line.
10/14, 10:49 AM
posted by:
Lariat Luxury Locomotive Liner No.3
After a few martinis Darkes was heard to say, “Bankruptcy is not an option, but American taxpayers bailouts to the tune of twenty-five billion and more that insure my year-bonus and annual perks are always welcome by large mismanaged corporations!” “We have no intention of passing-on the financial benefits we receive with taxpayer bailouts to our loyal customers. When asked why Darkes stated, “Screw ‘em! I am rich and do not worry about taxes because I never pay them!”
10/14, 2:14 PM
posted by:
Khyber1921
GM will not go bankrupt. At least not in the forseeable future. One must be mindful of GM’s colorful history. The 70’s were not a walk in the park for GM, but they came out of it alive. However, concerns should exist. GM tried to rescue itself in the 70’s by imitating Japanese imports and creating horrible econoboxes, thinking these small cheap cars were the solution to problem. They rushed into a technology that was not well researched and thought out. Chevy Volt anyone………?
http://homepages.nyu.edu/~hbr215/index.html