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Automotive News & Views GM News, New Models and Market Share
8561 messages, Last post on Dec 02, 2009 at 6:33 PM
You are in the Automotive News & Views Forum. Your Hosts are steve_ & claires
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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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Replying to: xrunner2 (Nov 10, 2008 7:52 am) Salaried retirees pay 100% of health care. I believe starting in '10 hourly pays for health care including retirees. We are on a HSA plan where we pay the first $5600 of medical bills and then go on some copay until we hit a max of $10,600 or so. No monthly payments. For a PPO with deductables you pay $200 a month. Max yearly payment is $3000. |
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Replying to: plekto (Nov 10, 2008 9:01 am) McGuinty said the Ontario automakers and associated industries employ around 400,000 people and represent 5 percent of Canada's gross domestic product." Canada premiers ask Ottawa for autos, credit help |
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Replying to: steve_ (Nov 09, 2008 8:44 pm) |
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Replying to: dtownfb (Nov 10, 2008 11:16 am) |
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Replying to: plekto (Nov 10, 2008 9:01 am) If only the Big 3 felt the same way towards the U.S. worker (!), I would agree with you. But the Big 3 have NOT cared about keeping industry here in the U.S. or the work here. They are the ones who outsourced many of their parts and assembly plants to Mexico and (lesser for savings) Canada. They didn't care about shuttering things here if they could save a buck and not get the UAW too upset. I also want you to consider that if we give them the $ in 2009, and they operate the same way they do today, do you not think they'll need more $ later?? They have been restructuring, and supposedly going to have the cars that turn things around; for the last 30 years. I see companies that are getting smaller and smaller and still have large pensions and health care to pay for, which means higher prices, less profit and back around to lower sales ... Shouldn't the U.S. public (or at least Congress) see a viable turnaround plan before shoveling $ at them?
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