It should be atleast 85% plagiarism free other wise i want my


Question Description:

30

It should be atleast 85% plagiarism free other wise i want my money back Read the General Motors Company case and gather facts. You do not have to prepare a written report this week. Instead, prepare a PowerPoint presentation for the case as if you were presenting the case analysis to the class. The presentation should be approximately 10 minutes in length. CASE 2.4.docx CASE 2.4: General Motors Company As long as the unwritten rule stands that the best way to achieve success at GM is to be a good finance man, the bad habit of juggling numbers in order to present the picture people want to see cannot be broken. Maryann Keller, analyst for the automotive industry, September 1990 The Great Depression dealt a devastating blow to Billy Durant. During the depths of the Depression in 1936, Durant, a high school dropout who was born a few months after the outbreak of the Civil War in 1861, was forced to declare bankruptcy. Like millions of Americans, the toughminded and resilient Durant survived the Depression by becoming a jackof-all-trades, a “job” that he had mastered as a young man. During his early 20s, the free-spirited Durant had worked as an itinerant salesman traveling from town to town peddling patent medicines. During the latter days of the Depression, Durant, who was in his late 70s by this time, made ends meet by managing a bowling alley. After suffering a stroke in 1942, he and his wife subsisted on a pension provided to him by a company that he had once managed. Durant died a few years later in 1947. If one considered only the early and later years of Durant’s life, his life story would not be particularly compelling. However, in the 50-year span between working as a traveling medicine man and managing a bowling alley, William C. “Billy” Durant created an organization that would become the United States’ biggest corporation and have the largest workforce of any company worldwide. Durant made a fortune in the late 1880s and 1890s manufacturing horse-drawn carriages, a business that he had launched in 1886 on $3,000 of borrowed money. In the early days of the twentieth century, Durant realized that the horseless carriage would soon supplant his company’s product. Over the next few years, Durant invested much of his personal wealth in several automobile manufacturers, most notably the Buick Motor Company. In 1908, Durant merged those companies to create General Motors Corporation (GM). For 77 years, from 1931 through 2008, GM reigned as the number one automobile manufacturer worldwide. Only a few months after that long run ended, GM, just like Billy Durant some seven decades earlier, filed for bankruptcy.1 GM’s bankruptcy filing in June 2009 had been foreshadowed by the going-concern audit opinion issued on its 2008 financial statements a few months earlier by Deloitte & Touche, its longtime audit firm. Pensions & Panic Similar to many companies, GM was victimized by the economic crisis triggered in late 2008 by collapsing housing prices and the implosion of the subprime sector of the mortgage industry. That crisis quickly spread to other sectors of the U.S. economy, including the large automotive industry. Panic and fear caused millions of distraught U.S. consumers to delay or cancel “big-ticket” discretionary expenditures, such as purchases of new automobiles. Well before the economic crisis that gripped the country in 2008 and 2009, GM’s financial condition had been deteriorating. The generous pensions that the company historically paid to its former workers and executives, such as Billy Durant, were a key factor that contributed to GM’s declining health. Wage freezes implemented during World War II by the federal government had prompted many companies, including GM, to establish an employee pension plan—or expand an existing one—to give their employees a legal pay “raise.” The retirement benefits provided by those pension plans became increasingly lucrative during the lat

Answer

30