GM sells off different assets, like golf course, factories

Posted on Monday, 6 July 2009 , 12:07:43 byEmil

Filed under gmsellassetgolfplantfactorynyGM

GM sells off different assets, like golf course, factories

In some bid for raising cash plus reducing upcoming expenditures, GM begun to sell off some diverse assets, like a 9-hole golf course in... yes, New Jersey, or like a... toxic waste place, site in an ex metal foundry in NY - Massena.

The ex foundry, that once made cylinder heads of aluminum for the Corvair, produced a tremendous quantity of PCB sludge plus fluid hydraulic waste which made its way eventually in the St. Lawrence River. 'It was created by GM dumping hazardous waste on the banks of the river, such that the waste oozed into the water and the land' stated John Privitera, lawyer for McNamee Lochner Titus & Williams PC - Albany, NY, told Bloomberg. 'It was picked up by animals and moved up the food chain through fish and into Mohawk women — into their breast milk, into their babies'.

'The new GM hardly needs to be in the golf course business' affirmed Tom Wilkinson, director of GM news relations, on an email addressed to Bloomberg. 'The old GM will be selling a lot of potentially valuable but peripheral property the company accumulated over 100 years, kind of like a big garage sale. You will see some really good real estate deals come out of this for investors and communities'.