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When I was an Automotive Engineer back in the 2000s we were told then that the Automotive companies would eventually consolidate under 4 large umbrella conglomerates, otherwise they wouldn’t survive.
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One was a Toyota conglomerate, another a Fiat conglomerate another was a VW/Mercedes conglomerate, and the final one was a Ford conglomerate.
There was no GM or Chrysler indicated, which we thought couldn’t happen, but decades later, it’s appearing more likely..
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These conglomerates, we thought would own the smaller organizations, however it now appears they will be stakeholders, holding only a lower percentage of the stocks opposed to 51%. This approach makes sense as it allows the conglomerates to drop any organization which becomes deadwood, without incurring a major loss.