Monday, November 24, 2008

Tom Perkins & GM: Fact or Fiction

The Fate of GM

With all of the intrigue and suspense of a Danielle Steel pulp-fiction novel, the question on everyone's minds these days is "should GM get a bailout?" In addition, will China buy GM or will GM get the bailout it seeks from Joe Taxpayer (courtesy the Chinese) and then pony up the dough to its manufacturing division in China or will it go bankrupt and vanish off the face of this hot, overcrowed, flat and smelly flat earth? Or, will it allow its key, cle$n, gre$n, le$n and me$n design technology (GM Volt) to be absorbed by a swashbuckling suitor?

Detroit area resident and all things expert on what’s going down behind the scenes in the Motor City, Citizen Carrie at, goes under the hood of the 25 billion dollar Big 3 Bailout question as she probes a few stealth activities on the mechanics of who’s pining for the Star-of-the-Sea, General Motors in her post “Big Happy Dysfunctional Families.”

When a privately held, luxury hybrid automotive manufacturer (Fisker Motors) which is heavily backed by a Silicon Valley venture capitalist firm (KPC&B) along with lead investment coming from a Middle Eastern investment fund (Qatar Investment Authority) quietly slips into Pontiac, Michigan with nary a peep, what might this mean for the fate of the tanking General Motors, once known for its scrapped first electric car ever, the EV1?

LWOH operatives have uncovered impossibly revealing, entirely and almost utterly unsubstantiated rumors that a swashbuckling, uber wealthy Silicon Valley venture capitalist who owns an immense and luxurious, high-seas clipper (the Maltese Falcon) with an actual former Vice President as a partner of the vc firm (who also happens to sit on the board of cyber-snoop friendly GOOGLE) has his sails set on locking onto the tanking Big 3, Star-of-the-Sea, General Motors. How do we so outrageously and practically sort-of don't really know this?

For starters, KP is a vc firm which leads the pack in key clean and green technology investments including solar, alternative fuels, biotech, and the automotive. It also doesn’t hurt that in addition to partner Gore’s insider beltway savoir-faire, pal and local resident Nancy Pelosi also happens to be speaker of the House. And of course, it certainly doesn’t hurt that Henry Waxman just got the nod to help pave the way for this enterprising boatload of “best and brightest” investors and technologists to suddenly -- albeit stealthily --- be primed at the pump with all kinds of Doha Round $$$ (QIA) to help grease the skids.

KPC&B and GM? Victory at the high seas of Lake Michigan? Say what you will about the gaping hole in the starboard side of Perkin’s humility (as Lesley Stahl does in her interview above) but with rare exception, if anyone deserves a galeforce wind of alleged hubris and arrogance at his back, it is the truly smart and talented Tom Perkins. (We have learned that TP recently secured an undisclosed partner to hop onboard the MF after taking it off the market. Bets are on that the moolah is whooshing in from Gulf Arab states.)

Whichever way the wind blows, we predict a marriage of convenience for the Captain of Clean and Green & the Aging Suitor of Detroit, GM with just a little help from Congress.



Citizen Carrie said...

My, my, my, what an interesting prediction! If it doesn't quite pan out, at least you're putting the world on notice that Silicon Valley is poised to become the new Masters of the Rustbelt.

2Truthy said...

Oh, who *really* knows what the hell they're up to:)

(Although, I'm still cracking myself up with the visual of this crew sailing into Pontiac on TP's clipper on the "high seas" of Lake Michigan.)

Aren't there still a few automotive parts manufacturers, OEM's and suppliers still around in Detroit, like vdo and Siemens? Is the place a total ghost town yet?

CIAS said...

Who did Lesley Stahl's lift? Looks good.

Anonymous said...


Anonymous said...

And of course THIS:

Floundering Fisker faces grilling over U.S. government loan

Anonymous said...

"GM Ventures is a part of the group led by venture capital firm Kleiner Perkins Caufield & Byers and this group will invest around $30 million in Proterra."

A VC firm "invests" taxpayer dollars but can't even update its website from what, 2011? Oh wait--- they went bust?

KARMA said...

Oh, the karma! Everybody's doing it!

Looks like all these insider "innovative" venture capital geniuses know who to call in DC to get taxpayers to foot the bill for their "next big thing".

A123 Systems – the taxpayer-funded
electric vehicle battery manufacturer that famously shipped duds to Fisker Automotive, which caused one of its luxurious Karma EVs to shut down just before a Consumer Reports test – is now the defendant in an investor class action lawsuit and its stock has tanked to below $1.