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General Motors (GM) has sold EMD . . .
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1. Greenbrier with an e builds and leases cars (Gunderson). Greenbriar with an a is an investment company. No relation. <br />2. La Grange builds the engines, main generators, electrical cabinets. That's 85% of the value of the locomotive. That's in the U.S. What's this about it "not being an American company"? Do you shop at Wal-Mart? Buy gasoline? Burn natural gas in your furnace? <br />3. Every large industrial concern has operations all over the world and purchases components from everywhere. What's so strange about that? <br />4. SuperSteel is a contractor for sheet metal such as hoods. <br />5. The value of EMD is at least 90% "going concern value." The purchase price reflects its future positive cash flow. Shutting it down would be irrational. Anyone have evidence that Warren Buffet (Berkshire Partners) is irrational? Sure, he could sell it: the new buyer has the same problem, unless he is is also irrational. <br />6. Whether GM puts its positive cash flow into its money-lending pocket or its car-building pocket is irrelevant. Both pockets are on the same pair of pants. <br /> <br />OS
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