and subsidiaries unrelated to the auto industry, or subsidiaries in which GM has a stake.
What does this mean..manufacturing and apparel?
http://www.zeebob.com/ZStockGJMBGM.htmlhttp://www.fundinguniverse.com/company-histories/General-Motors-Corporation-Company-History.htmlThe mid-to-late 1990s saw a number of important initiatives in GM's non-automaking operations. In 1994 the renamed Hughes Electronics unit introduced Direct TV, a satellite-based direct-to-home broadcast service. The 1995 sale of the company's National Car Rental business was followed by the spinoff of EDS the following year. One year later, Hughes Electronics was revamped through the sale of its defense electronics operations to Raytheon Company and the merging of its automotive electronics activities (Delco Electronics) into GM's auto parts subsidiary, Delphi Automotive Systems. Hughes began concentrating on digital entertainment, information, and communications services and made a key acquisition in 1999 when it paid $1.3 billion for the direct-to-home satellite business of Primestar. In early 2000 Hughes would make a further divestment of a then noncore unit, selling its satellite manufacturing operations to the Boeing Company for about $3.75 billion. Delphi, meanwhile, would be completely separated from GM through a May 1999 spinoff to shareholders.
GM remained profitable through the end of the decade, but its U.S. market share dipped below 30 percent by 1999; at times GM's share was less than that of the combined share of all Asian automakers, an unprecedented development. While continuing to attempt to reverse the now three-decades-long fall, GM began looking for future growth from Asia, where early 21st-century growth in car sales was expected to surpass both North America and Europe.
Instead of attempting to directly sell its own models, GM began assembling a network of alliances with key Asian automakers for its push into that emerging continent, aiming to increase its market share across Asia from its late 1990s level of 4 to 10 percent by 2005. The company already had a 34 percent stake in Isuzu Motors Ltd., which it had bought in 1971, and a 3 percent stake in Suzuki Motor Corporation, obtained in 1981. In 1998 GM increased its stake in Suzuki to 10 percent and agreed to build cars with the Japanese automaker. The following year GM increased its stake in Isuzu to 49 percent; acquired a 20 percent stake in Fuji Heavy Industries Ltd., maker of Subaru all-wheel-drive vehicles; and entered into an alliance with Honda Motor Co., Ltd. involving Honda producing low-emissions gasoline engines for GM and Isuzu producing diesel engines for Honda. 
Printer-friendly format
Email this thread to a friend
Bookmark this thread
(1000+ posts)
Send PM |
Profile |
Ignore
