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Several reports suggest that GM is in serious talks with a couple of financial firms (no transportation connection) about selling EMD [:0][:(][:(!]. We could see an all GE market in the future, which is bad news for RRs, since many GEs have engine flaws, and maintainence issues. Here is an article from the Associated Press: GM in discussions with investment group over sale of locomotive plant The Associated Press 9/16/03 2:35 AM LONDON, Ont. (CP) -- A U.S. investment group with $1 billion in its pocket is in "serious discussions" to buy General Motors' Electro-Motive Division. The possible sale of the locomotive builder to an investment group, and not a manufacturer, has sparked worry among the division's 580 workers in London, 80 miles east of Detroit. Berkshire Partners of Boston and Greenbrier Equity Group are the two companies involved in negotiations, the London Free Press reported Tuesday. "There are serious discussions under way," a spokesperson for the investors said. Berkshire and Greenbrier have more than $1 billion available to invest in transportation-related companies, according to Berkshire's Web site. Greenbrier's partners include Jerry Greenwald, former chairman and chief executive officer of UAL Corp., parent company of United Airlines, and former chief financial officer of Chrysler Corp. The investors spokesperson said no decision was imminent and union leaders would be involved in any final details. "There is a carefully managed process under way. The union's view of the outcome is an important factor in any decision." Canadian Auto Workers union leaders said they're worried about the possibility of an investment group buying the London plant. "An investment group buying it isn't very good news," said Terry Mason, Local 27 plant chairperson. "They are interested in making money rather than locomotives. They may want to turn it over for a profit or split it up and sell off parts for a profit."
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