Topic: GM Tidbits

[G0dspd]

Shipping company employee (POSSIBLY) carted off to jail for Corvette SS pics

"We've just learned that EMO TRANS, the shipping company that was hired by General Motors to transport a Corvette SS mule to Germany for testing on the Nurburgring, has fired the employee who took pictures of the vehicle and posted them on the internet. In addition, the unnamed employee has been taken to jail, though we don't know what charges have been filed against him. For our part, we've removed the pics from Autoblog for fear of GM's wrath. The automaker has been reportedly approaching various sites all day requesting the images be removed, so rather than waiting for the phone to ring we've gone ahead and taken them down. Bla bla bla ..."
http://www.autoblog.com/2007/02/22/shipping-company-employee-carted-off-to-jail-for-corvette-ss-pic/

I assume they also want to use this as an example.  Everybody knows that once it's online ... it's gone! Shouldn't be too hard to find the said pictures. 

[Allen]

DaimlerChrysler considering share swap with GM: report
MATT MOORE

Associated Press

FRANKFURT — DaimlerChrysler shares edged higher Monday on a news report that the auto maker was considering taking a stake in General Motors Corp. in exchange for its struggling Chrysler unit.

Meanwhile, Russia's second-biggest automotive company denied that it was interested in the Chrysler business.

Earlier this month, DaimlerChrysler Chairman Dieter Zetsche said all options are on the table for the money-losing Chrysler business and he would not rule out a possible sale.

The Financial Times reported Monday that DaimlerChrysler was considering a move that would see it take a stake in GM in the form of a payment were a deal to sell it Chrysler were to go forward.

GM is the world's biggest auto maker, but has been losing market share at home and is undergoing a massive restructuring that includes closing plants and shedding jobs.

The newspaper, citing people familiar with the situation, said DaimlerChrysler was weighing the possibility of trading Chrsyler for the GM stake, but added it was also considering a cash sale to private equity firms, including Apollo Management LP, Blackstone Group, Cerberus Capital Management LP and Carlyle Group, among others.

DaimlerChrysler AG did not comment on the report, reiterating its previous stance that all options for Chrysler are being considered.

On Friday, a senior Chrysler official told The Associated Press that the company is giving detailed financial information to selected potential suitors and is working with its investment bank, JPMorgan Chase & Co., to avoid divulging sensitive information.

Meanwhile, Russia's second-biggest automotive company, OAO Gaz Group, shot down a report in German weekly magazine Focus that it was interested in acquiring Chrysler.

The magazine, citing no sources, said that Gaz, which receives four-cylinder engines from Chrysler for the Russian company's cars and minivans, was interested in Chrysler.

On Monday, Gaz said it had no interest in a deal for Chrysler. Volkswagen AG, the Renault-Nissan auto alliance and Hyundai Motor Co. have previously said they had no interest in the division.

Analysts said an equity deal would benefit GM given that a domestic tie-up would be easier for Chrysler instead of a foreign buyout.

“Since GM is short of cash, an equity deal would make sense if it is interested in Chrysler, and an equity valuation of Chrysler at, say, 3 billion euros ($3.94-billion U.S.), would wind up giving DaimlerChrysler a 20 per cent stake in GM,” said Stephen Cheetham, a senior analyst with Sanford C. Bernstein Ltd. said.

“This kind of deal has some face-saving potential for management, and we believe that from a shareholder perspective, 20 per cent of a combined GM/Chrysler entity is preferable to owning Chrysler outright,” said Cheetham. “However, it does not give DaimlerChrysler a clean break from equity exposure to the troubled world of U.S. domestic car makers, and we would expect the presence of a GM stake to be an ongoing irritant in (its) relations with investors.”

DaimlerChrysler's shares inched up 0.3 per cent to 53.93 euros ($70.83 U.S.) in Frankfurt.

Chrysler earlier this month announced it lost $1.475-billion in 2006 and said it expects losses to continue through 2007. Parent DaimlerChrysler, however, earned $4.26-billion in 2006.

The news was accompanied by plans to shed 13,000 jobs, including 11,000 production workers and 2,000 salaried employees as it trims expenses and factory capacity to match declining sales. The auto maker also announced the closure of one plant and layoffs at several others.

[sirAQUAMAN64]

Tracking Ford and GM's health care expense per vehicle 

http://www.detnews.com/apps/pbcs.dll/article?AID=/20070227/AUTO01/702270372/1148

[Snowman]

Eventually there will be no legacy. The aging workforce of the UAW is only thinking about their retirement years and could care less about their successors IMHO. At some point the healthcare issues will push GM over the edge if not addressed by both sides.

[UmroAyyar]

Does moving more production and plants to Canada help in this case?

[Snowman]

Does moving more production and plants to Canada help in this case?

Yes, there is about $1200/car in government funded healthcare is every car assembled in Canada. And in the past a more favourable exchange rate.

[sirAQUAMAN64]

Being big into Transformers as a kid, looking forward to the movie.

http://www.edmunds.com/insideline/do/News/articleId=119736#9

Some photos of a badass Mustang cruiser here too http://www.leftlanenews.com/new-chevy-camaro-to-star-transformers-movie.html

[sirAQUAMAN64]

GM pickups fetch good prices, seek market share

Jamie LaReau  |  Automotive News / March 5, 2007 - 1:00 am
 
DETROIT -- The new Chevrolet Silverado and GMC Sierra are commanding strong prices at dealerships, but it's too soon to tell whether they'll gain market share.

In January, the average purchaser spent $31,799 for a 2007 Silverado and $33,196 for a GMC Sierra.

By contrast, the average transaction price for all pickups was $29,363. Those prices come from the Power Information Network.

But there's no sign so far that the new General Motors pickups will lead owners of Ford, Dodge, Toyota and Nissan pickups to switch brands.

Loyalists are buying

So far the new Silverado and Sierra are selling mostly to loyalists -- men in their mid-40s who previously owned a Silverado or Sierra.

The Power data show that 48 percent of all Silverado purchasers traded a Silverado, up from 33 percent a year earlier. Overall, nearly 76 percent of trade-ins were GM vehicles.

Loyalists typically are first to buy a redesigned pickup, says Tom Libby, Power's senior director of industry analysis. In the months to come, the Silverado and Sierra are likely to attract more Ford and Dodge owners.

Right now dealers are getting lots of pickups equipped with V-8 engines and crew cabs. Those high-priced options appeal to the loyalists, Libby says. GM must offer more basic work-style trucks to win traditional Ford and Dodge pickup owners.

GM executives will have to wait until this summer before they find out whether their new pickup will gain market share or simply retain existing GM pickup owners.

That's because GM's pickup inventory is still undergoing a transition from the old pickup, dubbed the Silverado Classic, to the new version. In the spring, the company will phase out production of the Classic.

When dealers have a full lineup of the new pickup this summer, GM will introduce marketing tools such as low-interest financing and trade-in assistance. Says Mark LaNeve, General Motors' North American marketing chief: "We're not going to do a zero incentive, but we're going to be competitive on the truck."

Feeling anxiety

Although GM executives remain committed to their strategy -- lower sticker prices and fewer incentives -- some feel some anxiety. Both Ford division and Dodge appear willing to pile on incentives to prop up sales.

"We didn't come up with the new pickup truck just expecting that everyone was going to let us walk in and take their market," said Troy Clarke, GM's president of North America. Clarke spoke with Automotive News last month at the National Automobile Dealers Association convention in Las Vegas.

Ford division has put $3,000 on its 2007-model F-150 trucks. And Dodge is offering as much as $12,000 in factory rebates and dealer cash on a 2007 Dodge Ram.

[Allen]

GM chief expects new auto industry sales record
Associated Press

GENEVA — General Motors Corp. is set to see its revenue rise in 2007 with chief executive officer Rick Wagoner predicting a second straight year of record revenue growth in the car industry.

Mr. Wagoner shed little light Tuesday on the state of any talks with DaimlerChrysler AG about its troubled Chrysler group, preferring to let DaimlerChrysler chairman Dieter Zetsche do the talking.

GM has talked to DaimlerChrysler about possibly acquiring Chrysler, which sells some two million cars a year, but Mr. Wagoner remained mum about the state of any such talks or if efforts were still ongoing.

“I really don't want to get into it,” he said in Geneva. “It's a slippery slope.”

Chrysler last month announced it lost $1.48-billion (U.S.) in 2006 and expects losses to continue through 2007.

Mr. Wagoner, however, said GM's outlook is positive and global industry sales are likely to reach 70 million this year, a record.

GM's own sales, more than nine million last year, are expected to grow, though Mr. Wagoner did not predict a second consecutive year of record revenue, expecting “a huge amount of growth where the revenue per unit is low” in emerging markets such as China and Russia.

Mr. Wagoner said GM is still in talks with Malaysia's Proton Holdings Bhd. about a possible partnership, but “there's a lot of work to be done.”

Last year, GM backed off from talks with Nissan Motor Co. and Renault SA about an alliance.

Nevertheless, “you're going to have to see manufacturers work together,” he said, alluding to the high cost of vehicle production. “I expect the co-operation to grow over time.”

[sirAQUAMAN64]

http://www.detnews.com/apps/pbcs.dll/article?AID=/20070307/AUTO04/703070363/1148/AUTO01
Lutz: Market threatens to kill one of Big Three

GM exec says automaker in best position to survive

Christine Tierney and Bill Vlasic / The Detroit News

GENEVA -- Intense competition and growing overcapacity could threaten the existence of one of Detroit's Big Three automakers, General Motors Corp. Vice Chairman Bob Lutz said Tuesday.

While Lutz dodged questions about GM's interest in buying the Chrysler Group, he said market conditions are conspiring to eliminate one Detroit automaker down the road.

"If you project out present trends, you can only come to the conclusion that it's going to be an extremely difficult environment," Lutz said in an interview at the Geneva auto show.

But Lutz made it clear that GM, in his opinion, is more likely to survive than Chrysler or Ford Motor Co. "Right now, we're in the best position," he said. "We're approaching the end of the beginning of the transformation of GM."

Analyst Bradley Rubin of BMP Paribas in New York agreed a shakeout is likely. "It's true. It is confusing. There are a lot of products out there," he said.

After losing $10.6 billion in 2005, GM embarked on a sweeping turnaround plan that included cutting 30,000 jobs, selling off assets to raise cash and launching a blitz of new products. Ford and Chrysler are undergoing major restructurings as well.

But making money consistently in their home market remains an elusive goal for GM, Ford and Chrysler.

"We cannot, as an American auto industry, survive long-term with the legacy cost burden that we've gotten," Lutz said. The rising cost of pensions and health care for employees and retirees is a "burden" that could sink one of the traditional Big Three, he said.

"In today's fiercely competitive environment, where every bit of value in the car counts, you cannot prevail in this business if you have a $2,000 cost disadvantage versus your closest competitors."

Lutz declined Tuesday to discuss one of the hottest topics in the industry -- the proposed sale of Chrysler by DaimlerChrysler AG.

Senior executives at GM and DaimlerChrysler have held talks since December about GM's interest in acquiring Chrysler, say people familiar with the discussions.

While Lutz would not address the possibility of a GM-Chrysler deal, he contrasted the benefits of a domestic auto merger with GM's rejection last year of an alliance with foreign rivals Renault SA and Nissan Motor Co.

"Generically, synergies are easier to get in the same geography than across geographies," he said. "That was the problem with Renault-Nissan. What sane auto company would sign up for that?"

Like Lutz, GM Chairman Rick Wagoner would not comment Tuesday on GM's interest in Chrysler. "There's nothing we want to say about that," Wagoner told reporters at the Geneva show.

In an interview later, Wagoner stressed that GM would never do a deal simply to stay ahead of Japan's Toyota Motor Corp. as the No. 1 global automaker.

"That wouldn't be the motivation for any alliance," he said. "But we like to win and we'll keep fighting for it (the No. 1 position)."

[sirAQUAMAN64]

http://www.detnews.com/apps/pbcs.dll/article?AID=/20070309/AUTO01/703090331/1148
Toyota-wary GM ups Chevy output abroad

Jeff Green / Bloomberg News

GENEVA -- General Motors Corp. is increasing production of Chevrolet cars in markets such as India and Russia as it tries to retain a lead over Toyota Motor Corp., which may pass it as the world's largest automaker this year.

Chevrolet cars based on Korean designs helped the automaker pass 2 million units for the first time in Europe and 1 million in Latin America last year, GM Vice Chairman Bob Lutz told reporters this week in Geneva. Since 2001, Chevy sales have increased 158 percent outside North America, making it one of the fastest-growing brands in the world, he said.

Growth in Russia, India and China is part of GM Chief Executive Officer Rick Wagoner's plan to focus on boosting sales in 11 emerging-market countries. Since Wagoner took over GM in 2000, GM has risen to first from second in those countries, which also include Brazil, Indonesia, Mexico, Poland and Turkey.

"While Chevrolet might not be as recognized globally as Ford or Volkswagen, it is probably the strongest brand in GM's portfolio," said John Casesa, managing partner of Casesa Strategic Advisors LLC. "Right now GM has a first-mover advantage in emerging markets and I'm not so pessimistic that I think it's inevitable that they lose to Toyota."

GM's share in emerging markets rose 0.4 percent to 10.9 percent last year, according to John Middlebrook, head of global marketing. Volkswagen AG was second at 9.3 percent, he said, followed by Toyota at 7.7 percent and Hyundai Motor Co. and its Kia Motors Corp. subsidiary at a combined 5.2 percent.

Wagoner said this week that he isn't ready to concede that Toyota will overtake GM this year.

[safristi]

Does HIs "BONUSES" depend on THAT!!!???>.............

[Allen]

GM expected to unveil quarterly profit
 
Fourth-quarter results next week likely will show the benefits of vehicle maker's severe job and cost cuts, analysts say

Mar 10, 2007 04:30 AM
Tom Krisher
associated press


DETROIT–General Motors Corp. says it will do something next week that's a rarity these days for U.S.-based auto makers: report a profit.

GM in January predicted a fourth-quarter net profit when it announced that accounting troubles would delay its quarterly and full-year financial results.

Analysts don't expect the profit to be huge, but say it's a sign that GM's restructuring plan, or at least its massive cost cuts, is beginning to take hold.

The world's largest auto maker, which reported losing $3 billion (U.S.) through the first nine months of last year and $10.6 billion in 2005, says it will report net income for a quarter for the first time in two years when it announces its fourth-quarter and full-year 2006 results sometime next week.


The consensus of a dozen analysts polled by Thomson Financial puts GM down to earn $1.19 per share, excluding restructuring costs and other special items, for the fourth quarter.

For the full year, 10 of the analysts expect earnings of $4.39 per share, again excluding billions of dollars in restructuring costs that will likely leave it with a net loss.

One of the analysts, Kevin Tynan of Argus Research, a New York-based equity research company, said quarterly profits may continue for a while as GM benefits from huge cost cuts made during the past two years, including hourly worker buyouts and health care concessions from the United Auto Workers union.

GM, he said, is entering a period where the cuts have taken hold and have yet to be affected by inflation or anything else that would negate their impact on the bottom line.

"It's kind of a sweet spot in here where the benefits of the cost cuts outweigh still-rising health care costs, still-softening market share over the longer term," he said.

At GM's massive assembly and stamping complex in Lordstown, Ohio, the prospect of a profit and GM's increased sales figures are not lost on the 3,750 production workers, said local union president Jim Graham.

"There's confidence by the people and in the products because they know what they're capable of," Graham said. "They know we're going to come out of this thing stronger."

GM is winding its way through a massive restructuring process that includes more than 34,000 blue-collar workers taking buyouts or early retirement offers. The company said the departures have helped it cut costs by $9 billion on an annual basis, and it is saving money by developing more of its cars globally.

David Healy, an analyst with Burnham Securities and a GM shareholder, said GM may surpass fourth-quarter estimates.


He said GM's February sales, bolstered by a return to a higher percentage of truck sales, are an indication that the company likely will be able to sustain its net income through 2007. GM reported a 3.7 per cent year-over-year sales increase last month on the strength of its new pickup trucks, while simultaneously reducing its low-profit sales to rental car companies.

[Snowman]

There is a conveyor belt at the local GM dealers for the new trucks. The guys I talked to are not getting much movement on pricing either.

[Bullet Blue]

Caddy BLS wagon revealed:

http://www.autoblog.com/2007/03/12/cadillac-bls-wagon-revealed/

[sirAQUAMAN64]

I welcome a CTS family, but think the DTS still has a place in the Caddy line. It's what I think of when I say 'Cadillac' - big comfy Americana. Not to say it can't be improved...

GM is near key decision on CTS family for Cadillac

Dave Guilford  |  Automotive News / March 12, 2007 - 1:00 am
 
GENEVA -- Over the next three months or so, General Motors executives will decide whether to produce a new Cadillac CTS wagon and coupe, the next step in Cadillac's rebirth as a global brand.

Hoping to build on the successful debut of the CTS in the United States, General Motors could create a CTS family of models reminiscent of the BMW 3 series. If Cadillac expands its presence in Europe, it could afford to build niche vehicles like a wagon that otherwise would face a marginal future as U.S.-only cars.

GM already has produced clay models of these new Cadillacs. In the near future, it will decide whether to OK development, say GM Vice Chairman Bob Lutz and Cadillac General Manager Jim Taylor.

Starting in the late 1990s, GM jump-started Cadillac's fortunes with sharp-edged design, luxury SUVs and rear-wheel-drive cars. Now Taylor and Lutz want to build more momentum.

During interviews at the Geneva auto show, both executives explained their plans to make Cadillac competitive with Lexus, BMW and Mercedes-Benz. They also voiced varying opinions about some Cadillac issues, offering a revealing glimpse of GM's internal give-and-take.

As Cadillac enters the second phase of its revival, they must decide:


Whether to approve a long-delayed ultra-luxury car costing more than $150,000 (see column, above).


Whether Cadillac needs an entry-level model priced under $30,000. Taylor is reluctant; he prefers to keep the CTS as Cadillac's lowest-priced car. Lutz says he is open to an entry-level Cadillac, but it won't be the European BLS sedan.


Whether to keep or discontinue the front-wheel-drive DTS sedan, Cadillac's top-selling nameplate. Taylor says he's undecided; Lutz prefers to phase it out and keep the rwd STS.


Front-wheel drive does not match the brand image of global luxury Cadillac is seeking. But the DTS was Cadillac's top seller last year, with U.S. sales of 58,224. The DTS accounted for 25.6 percent - about one-quarter of the brand's U.S. volume.

Taylor said GM could put the DTS on the Zeta rwd platform, which will be used for the coming Pontiac G8; merge it with the STS line; or keep it in its current form.

But in a separate interview, Lutz flatly stated that the DTS replacement should be rwd.

Selling more vehicles outside Cadillac's traditional U.S. stronghold would make it easier to build a business case for niche vehicles, Taylor said. Higher sales volumes would allow GM to achieve economies of scale currently enjoyed by key competitors BMW and Mercedes.

"If all you have is your U.S. volume, it's pretty hard to put together a capital case," Taylor said.

The CTS wagon in particular would be stronger in Europe than the United States, and would aid GM's struggle to build the brand there, he said. To be successful, it must achieve annual global sales of 20,000 units, Taylor said. For comparison, GM sold 54,846 CTS units in the United States last year.

Small Caddy?

Lutz said GM will not bring the European BLS, a front-drive car that shares parts with the Saab 9-3, to the United States. As for a small rwd vehicle, "there's certainly an opening, whether we choose to fill it or not," Lutz said.

Taylor takes the opposite view. He says GM doesn't need a smaller car slotted below the CTS. The smaller car would compete with cars such as the Audi A3 and the coming BMW 1 series and would sell in the upper $20,000s.

Says Taylor: "We're not going there. We're a $30,000-to-$40,000 player, not a $20,000-to-$30,000 player."

At the upper end of the lineup, the two executives say they are considering an ultra-luxury car to enhance Cadillac's brand prestige. Both mentioned the Sixteen and Cien concepts as possible models. The Sixteen is a large sedan with a V-16 engine and the Cien a futuristic V-12 sports car.

But Lutz and Taylor say the ultra-luxury program keeps getting delayed. Said Lutz: "We always wind up pushing it out one more year because we have other, more pressing priorities."

[sirAQUAMAN64]

GM plans global group of small crossovers

Jason Stein  |  Automotive News / March 12, 2007 - 1:00 am
 
GENEVA -- General Motors may produce a family of crossovers based on its global small-car architecture. The five-seat vehicles will be sold in North America as a GMC model but not built there.

The crossovers would be smaller than the Saturn Vue and marketed under different brands in North America, Europe and possibly emerging markets such as Russia, India and China.

"Variants could be configured with different exteriors for Opel, GMC and Chevrolet," GM Vice Chairman Bob Lutz said at the Geneva auto show.

GM could build the vehicles at low-cost sites in Thailand, India and Mexico, although no factory location has been chosen. The annual global production target is 200,000 units.

The plans require board approval. Executives say the crossovers would not be in production before 2010.

Last spring, at a design event in Germany, Lutz hinted that GM was working on a small crossover. He said production could begin 37 months after an architecture and assembly site were chosen. Lutz said the crossovers cannot be assembled profitably in North America or western Europe.

GM's smallest crossovers now are based on the Theta architecture. They are the Saturn Vue, Pontiac Torrent, Opel Antara and Chevrolet Equinox and Captiva. 

[Mitlov]

In China, Cadillac sells a long-wheelbase STS known as the SLS.  I think that makes more sense than the DTS.

[Juke1]

Honestly this car looks to much like the Aura, a watered down one at that.  I hope GM leaves this car in Korea, the upcoming Malibu looks far better than this.  Why come out with something that will affect the sales of the Aura and the Malibu? why is GM competing within? don't they have enough competition from Toyota, Nissan, Honda??

[sirAQUAMAN64]

Note to private equity: Don't mess with Bo

Robert Sherefkin  |  Automotive News / March 19, 2007 - 1:00 am
 
DETROIT -- Blackstone, Cerberus - meet General Motors purchasing chief Bo Andersson.

He has a message for you and other private equity firms bent on consolidating auto parts makers in hopes of getting better pricing from him.

"I wish them luck," Andersson told Automotive News last week, adding, "It will take more than luck."

Led by Blackstone Group and Cerberus Capital Management, private equity is targeting its largest deal yet in the auto industry: the Chrysler group.

But private equity players already have emerged as the financial backbone of the North American auto supply chain. Automotive News has identified $54.35 billion in annual supplier revenue that in the past year has been acquired, at least tentatively, by private equity firms.

Big money, big clout

Andersson has had a front-row seat in the private equity sweepstakes.

A decade ago the Detroit 3 purchasing chiefs oversaw buyers such as Lear Corp., Dana Corp. and others that routinely sought automaker approval before buying up rivals.

But today, financial players are multibillion-dollar institutions that play by their own rules. Andersson acknowledged as much in an earlier interview. Asked how often these new buyout artists consult him, he says, "About a third of the time."

Chrysler is attracting interest from private equity even though it is hemorrhaging cash, has a cost disadvantage against Asian rivals and needs massive capital expenditures to bring new models to market. The attraction? Chrysler's potential to generate cash.

"Clearly," Andersson says, "we are in a phase where restructuring is needed. (Private equity) brings capital, and they have high expectations of management."

What worries Andersson is private equity's short-term ownership, sometimes as little as three years - a strategy sometimes termed "strip and flip." By contrast, GM's product cycles are five to six years. Many of GM's light-truck suppliers have been on board for as long as 15 years, he says.

Private equity, Andersson says, has been attracted by the size of the North American auto industry. "It is a $300 billion industry," he says. "You can easily go in and acquire companies with a couple of billion dollars of turnover on the cheap."

Even if private equity were to corner a key auto parts sector and demand better GM pricing, Andersson still could fall back on his Asian suppliers.

"We will always have alternatives," he says. "We will never put ourselves in a position of having one supplier. It's part of our DNA."

To the rescue

But GM cannot be too critical of private equity. The automaker improved its cash position by taking $14 billion from Cerberus for a controlling stake in the automaker's financing arm, GMAC. Cerberus also owns GDX Automotive, auto interior materials company Guilford Mills and Peguform GmbH, a maker of plastic parts. Cerberus also is leading a consortium that plans to buy parts supplier Delphi Corp. in bankruptcy court.

Asked which private equity firms he respects, Andersson cited Blackstone. It was Blackstone that refinanced the GM spinoff that became American Axle & Manufacturing Holdings Inc., a key GM supplier today.

In 2003, Blackstone led a group that bought the automotive operations of TRW Inc. for $4.7 billion.

Blackstone senior managing director Neil Simpkins, now chairman of TRW Automotive Holdings Inc. in Livonia, Mich., led the Blackstone team that visited Chrysler headquarters recently, The Detroit News reported.

Blackstone has a corporate war chest of about $125 billion. It has invested in about 100 companies in a variety of industries, countries and economic environments.

Cerberus, meanwhile, carries the name of the three-headed dog that guards the gates of hell. Its investment strategy often relies on injecting capital into struggling ventures. The company's portfolio includes holdings in more than 30 companies in a variety of industries.