Toni Simonetti
Toni Simonetti
position report
Discussions are ongoing, but we are not in a position to report any new developments.
capital choose deployed entire situation
I think we are assessing the entire situation of where we've got capital deployed and where we may choose to redeploy it. Everything is being assessed.
adequate believes business capital cash general planning prudent run strategies
General Motors believes it has adequate cash and liquidity to run the business and we have prudent capital planning strategies in place.
price stock suffice
Suffice it to say that the price of the stock is an important part of the equation.
equity expressed intention interest invest maintain multiple parties
There was some interest expressed on the part of multiple parties to invest in our commercial-mortgage business. We're in discussions with those parties, ... We are amenable to equity partners, but GMAC's intention is to maintain a significant equity interest in this business.
review
That review is going on very intensively right now.
current equity event fully gm manner market open orderly plans relationship stake unwind
GM has no plans to fully unwind its current equity relationship with Suzuki. In the event GM reduces its stake in Suzuki, it will be done in an orderly manner through an open market repurchase.
board situation
The board will be apprised of the GMAC situation and the Delphi situation.
announced board company consider couple directors engaged global interests news obligation respond sky weeks
A couple of weeks ago we announced we were proceeding with negotiations with News Corp. That is our priority, ... We are engaged in these negotiations with News Corp. and Sky Global Network. The company and our board of directors have an obligation to respond to the interests of all of our shareholders. As such, we would always consider any alternative.
financial hard improve north operations performance turn
Our financial performance is unacceptable, we know that and we've been working hard to turn around North American operations to improve our financial performance,
annual contrived eight elegant last meeting
The annual meeting used to last eight hours. I think we've come up with a pretty elegant solution. Now we can get to the grass-roots shareholders without a lot of contrived filibustering.
bankruptcy work
While we have a lot of work to do and a lot of initiatives under way, bankruptcy is not one of them.
conduct consider due proposal serious thorough
We'll conduct a thorough review, and consider it or any serious alternative proposal in due course,
actively engaged hughes interested multiple
We are still actively engaged in discussions about Hughes with multiple interested parties. Those discussions are progressing.