A Pig is Worth More After It’s Butchered
The French and the Japanese are about to barbecue General Motors and they’re calling it a three-way alliance. Which is pretty much the same as calling the eating of pork chops an alliance with the pig.
Kirk Kerkorian is the third entity pulling up to the table and tucking in his bib. We all know how much Kirk values the American car industry, or anything for that matter with potential in its stripped value. Kerkorian runs a corporate chop-shop. Cars are worth more as parts, ergo car companies are worth more as their parts.
An elegant kind of corporate truth, if you value earnings maximization over pride and use of product.
So, the raid will obscure itself behind the rhetoric of ‘alliancing’ GM up the ramp to the abattoir, where it will be dismembered, swung up on hooks, stripped of its brisket and loins and roasts, shrink-wrapped in plastic and put back on the market.
All of which makes excellent sense. Which is why the Gm Board has been zipping by corporate jet to Tokyo and Paris while t…