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Automotive News & Views GM News, New Models and Market Share
8244 messages, Last post on Nov 22, 2009 at 9:18 PM
You are in the Automotive News & Views Forum. Your Hosts are steve_ & claires
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Replying to: steve_ (Nov 09, 2008 8:44 pm) |
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Replying to: circlew (Nov 08, 2008 8:15 am) |
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Replying to: 210delray (Nov 09, 2008 11:06 am) I intend to keep my 1989 Cadillac Brougham forever. My idea of the perfect car would be all of today's performance, reliability, quality, and technology in a car that looks like my '89 Brougham. |
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Replying to: vanman1 (Nov 09, 2008 7:56 pm)
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Replying to: lemko (Nov 10, 2008 5:54 am) The American consumer is to blame as much as the corporations. 50 years ago I got a portable radio for Christmas. It was made in Japan. It was smaller than anything made in the USA. This loss of market share did not happen over night. We have all watched it evolve and went along with it. The bottom line for the Big 3 is they have themselves so tied up with contracts that they cannot be competitive. The only chance I see for survival is bankruptcy. Reorganization from the top to the bottom. The Dealers and the UAW will not like it anymore than the dead weight at the top of the management ladder. GM does not have the money to throw at the dealers like they did with Oldsmobile. I don't want my tax dollars going to pay off some fat cat car dealership for loss of GMC or Buick or Pontiac. Did anyone really think that wages and benefits would just keep getting better for the UAW, while the competition was paying less? The competition is expanding in this country and taking the market share from the Big 3. One American's loss could be another one's gain. Take early retirement from GM and go build VWs in TN. Just don't mention you were a UAW member.
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Replying to: gagrice (Nov 10, 2008 6:29 am) Strongly agree. A few posts back someone mentioned asking Canada to chip in on any bailout/help. Add Mexico and any other country that builds American branded vehicles and ships to U.S. Obama/Pelosi could buy into that. Add to that any country that has substantial suppliers of car parts used in American branded vehicles sold in the U.S.
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Replying to: rockylee (Nov 09, 2008 6:32 pm) To what extent or percent do hourly and management GM personnel pay toward their health care? What about retirees - what percent do they pay? Probably hundreds or thousands of U.S. companies have been cutting back on their contribution to health care premiums for workers and retirees. Is GM still paying more percent of premium than most companies? Understand when active hourly have iron-clad contract on health care premiums, but what about retirees? Has GM been cutting back on percent they pay for retirees? Most other companies are doing this.
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Replying to: xrunner2 (Nov 10, 2008 7:41 am) I've watched as the clothing industry has slowly moved away from the Carolinas, the original American industrial city, Paterson (where I was born) deteriorate to the point where if it weren't the county seat maybe no in would make any money at all. When i was a kid a trip to Paterson was special. Now you avoid it at all costs. I just don't know if it's too late. A stock analyst this morning valued a share of GM at $0. |
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GM's market share is currently at 22%, not the 25-30% mentioned above. From today's news: General Motors will likely fall below its minimum cash needs of $11 billion to $14 billion in the first quarter of 2009 if the troubled automaker does not receive additional funding, said an analyst at Barclays Capital. GM stock plunged more than 24 percent in morning trading on the New York Stock Exchange. Barclays' analyst Brian Johnson downgraded GM to "underweight" from "equal weight." Deutsche Bank also cut GM to "sell" from "hold," and saw an equity value of $0 for the stock, according to a report on theflyonthewall.com. "While further government assistance would decrease the likelihood of a GM bankruptcy, we believe any government assistance would likely significantly dilute GM's equity," Barclays' Johnson wrote in a note to clients. Johnson cut his price target on the stock to $1 from $4. On Friday, GM and Ford said their rate of cash burn had accelerated. The two burned through a combined $14.6 billion in cash in the face of deepening global downturn. http://www.autonews.com/article/20081110/ANA02/311109930/1142/emailblast02&Profi- le=1142 (registration link) Will there be enough time for Obama to get into the White House and get the money to GM before it quits operations? I know some hope so. Me, I still say the only viable long-term future for GM involves them declaring bankruptcy ASAP. (And I am writing my congressional rep to tell her that if she votes to bail out Chrysler, she will not get my vote next time around). |
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Replying to: fezo (Nov 10, 2008 7:54 am) I'm 200% behind bailing out GM and Ford *if* there are strong protection measures in place to keep them from off shoring everything with that money. |
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