General Motors offers $2.5 billion for a data-processing firm
Despite its almost incomprehensible size, the business of General Motors could always be summed up in one word: wheels. Less than 4% of its 1983 sales of $74.6 billion came from other businesses. A major drawback to such single-mindedness is that GM has few other earnings sources to keep the company profitable during sales slumps like the one in 1980-82. Now wiser after that downturn and flush with some $9 billion in cash, GM managers have been cruising industrial parks looking for takeover candidates.
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