Seeking Alpha

GM is hiring 10K IT workers as part of its plans to in-source much of its tech work. H-P (HPQ),...

GM is hiring 10K IT workers as part of its plans to in-source much of its tech work. H-P (HPQ), whose EDS unit signed a $2B outsourcing deal with GM in '07, appears to be one of the big losers. H-P recently announced a leadership change and $8B goodwill write-down for its services unit, which will be hit hard by the company's layoffs.
From other sites
Comments (4)
  • phxcrane
    , contributor
    Comments (416) | Send Message
     
    Now if the could just move all their manufacturing plants to Texas they would have something.
    7 Sep 2012, 06:53 PM Reply Like
  • pokalolo
    , contributor
    Comments (325) | Send Message
     
    What is the truth and reality here with GM.
    1/ GM was saved by a 40 billion buck lifeline by GWB

     

    2/ June 6th Supreme Court ruling

     

    3/ 3 months after Court of negotiated rankling and down size plans before the current administartion doled out more dollars.But, the secound traunch has been directed to oversears growth and to bolster plant losses in the EU.
    So, claims that the current group is responsible for saving GM is untruthful ! Totally !

     

    Results.

     

    Rather than the correct path and a normal bankruptcy GM has about 20,000 more workers than had private sector investors keeped the viable parts !

     

    And,GM now is the largest outsourcer on the planet. The headline comment here doesn't mention that GM is using the billions to expand plants in Mexico and build monster plants in China as it is their future. Already more new jobs in the two countries then were created in the US.

     

    pssst. You can find GM China CEO on youtube explaining how GM will eventually do all it's production there !

     

    So, had private guys taken the best of GM in a normal bankruptcy the future GM's would be a US one,but, since the path was distorted GM aka Gov Motors will someday outsource all it's jobs except for logistics to deliver cars to dealers and office work. Oh good move guys ! pok
    7 Sep 2012, 07:00 PM Reply Like
  • p_medica
    , contributor
    Comments (14) | Send Message
     
    Another brilliant maneuver by an HP CEO for self-gratification and recompense purposes. Great Job Marky – hope the bed rest with Jody Shilling was well worth the effort and the SEC hauls your ass down to the courtroom to make your life miserable.
    7 Sep 2012, 07:22 PM Reply Like
  • tomasitaylor
    , contributor
    Comments (34) | Send Message
     
    You guys are being rough on poor GM!! Someone had to save all those Union jobs, and who better to do it than politicians. The union negotiators are the ones taking the jobs overseas because of their unreasonable demands of the past. Anyone remember what happened to Bethlehem Steel? Mabe not...but it was one of the biggest companys in America at one time.
    10 Sep 2012, 03:47 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector