Proton: Disaster in making
Saturday, May 19th, 2007 | 12:15 pm @ SK
You can talk until the cows come home and remain on the discussion table.
7 weeks after the March 31 deadline, General Motors (GM) and Volkswagen (VW) are still talking to Proton, who already asked for more money from the Government to pay off unprofitable dealers.
It was reported by Forbes that a senior government official declined to specify the areas that talks with GM are focused on, but said: "No deadline has been set for the negotiations."
Already the Proton stock has fallen 17 percent this year, sounds like a perfect combination for disaster in making.
May 19th, 2007 at 12:32 pm
Proton should be sold to some other parties to cut the losses.
Yes, there would be workers laid off but rather than giving another 26 million to the vendors, might as well give a good amount of VSS before selling the thing off.
Then scrap the AP thing and the ridiculous taxes. Hey, don’t the Dato’s and Datins want cheap cheap Mercedes and BMWs?
May 19th, 2007 at 4:58 pm
May 19th, 2007 at 9:38 pm
Proton is nothing else than a money consuming factory using up all our taxpayers money. It should be sold off. It has become from bad to worst and whats next?
Guess they going to use our money to fix up another bumbung bocor factory la.
May 21st, 2007 at 2:53 pm
[…] they need to shove under the carpet for a while is this. And then, they’ll just have to keep this, this and this under wraps (actually, got a lot more, but those links require that I pay to […]
May 23rd, 2007 at 12:39 pm
If they don’t sell Proton soon, there will be very little reason for anyone to buy it. It depreciates by the day - they continue to lose market share at a frightening rate.
http://www.autosavant.net/2007/05/automaker-proton-will-not-get-bailout.html
I think VW will be the buyer as it needs the manufacturing capacity in Southeast Asia much more than GM does.
May 23rd, 2007 at 9:41 pm
One of the greatest sins of management is indecision, resulting in no direction for the whole company. Proton should run out of money soon and again more of our money will be used to keep the company afloat! :(