Not exactly. GenMot likes to own a piece of each of its major suppliers. They’re careful not to buy a controlling (51%) interest, though. They want enough to be able to bully the supplier into a low parts price. If they bought 51%, though, the UAW would use its own considerable muscle to demand a GenMot-style contract for the supplier’s workers.
There are interlocking lines of ownership all over the auto industry, actually. It’s not just GenMot. Ford, for example is financially connected to Mazda. Daimler-Chrysler is interlaced with Mitsubishi.
Now, a tangent. Before the company I worked for was sold by GenMot (they still own a big piece of it,) I was on AOL, and my profile there said I was a GM auto worker. One day, I searched the AOL member list for “GM.” I quickly found out GM meant “gay male” to a lot of those folks. After that, I began using the longer abbreviation. Oh, dopey me! :rolleyes: