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Automotive News & Views GM News, New Models and Market Share
8270 messages, Last post on Nov 23, 2009 at 5:01 PM
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Replying to: gagrice (Nov 11, 2008 7:43 am) Do they really have that many days supply left???? Either way, they are between a rock and a hard place. I fear that a massive layoff, bankruptcy, or any such action will stifle sales, and sound a death knell. But if somehow they could wrest 2% of GMAC from Cerebus........
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Replying to: gagrice (Nov 11, 2008 7:43 am) But, who will buy the vehicles. Saw an interview given last week by Wagoner. He talked about a number of studies done on consumers about bankruptcy. He said that 80 percent of potential car buyers would not buy a car from a company that announced bankruptcy. |
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Replying to: xrunner2 (Nov 11, 2008 8:12 am) That is encouraging. Only 20% of buyers are stupid. Or plan to get a car for half price and take their chances. I might give 50 cents on the dollar for a GM vehicle today. Knowing that I am on my own as far as service and repairs. How many dealerships are going to do warranty work if GM is in bankruptcy? They will be lucky to get rid of inventory. Rocky's brother bought an Impala, one of their better cars, for 35% off of MSRP. That dealer was tired of paying the flooring cost. Several big dealers are already in bankruptcy. $25 billion will only be a band-aid that prolongs the agony another few months. |
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Replying to: 62vetteefp (Nov 11, 2008 7:15 am) Let's put this in terms of GM being a ship and the executives of GM being the officers. The ship was in poor shape when the weather was good (economy growing), as it was sleaking water (losing money on daily operations and market-share declining). Now you're telling me the captain is surprised when the officers could see stormclouds gathering and a storm comes which is a normal occurrence (economic downturns occur every decade or 2). Yes it is bad storm, but the captain, officers and crew should have prepared for it. The consequences of bad leadership, planning, and execution are failure. They all need to go; we should not reward incompetence (or whatever you call it) and let it continue.
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Replying to: kernick (Nov 11, 2008 8:35 am) GM sold control of their cash cow ,GMAC, when the credit was flowing fast and furious. Now that it is tight they are blaming Cerberus for holding back credit for losers wanting to buy a car. If you have good credit you can get a good car loan today. If you do not. You should not get a loan. Simple as that. If we had followed that time honored principle for the last 15 years we would not be in this mess.
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Replying to: gagrice (Nov 11, 2008 8:45 am) In years past, I would chuckle when seeing tv commercials for cars. They used to shout, "Bad credit, no credit, doesn't matter. Come on in today and you will drive out with the car of your choice." Have not seen these in a while.
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Replying to: xrunner2 (Nov 11, 2008 9:06 am) Actually our local Hyundai dealership runs these ads all the time on the radio. Supposedly they have access to $12m in credit. |
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Replying to: kernick (Nov 11, 2008 8:35 am)  That GM ship is looking for a safe harbor in the US Taxpayer. |
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"Let's put this in terms of GM being a ship and the executives of GM being the officers. The ship was in poor shape when the weather was good (economy growing), as it was sleaking water (losing money on daily operations and market-share declining). Now you're telling me the captain is surprised when the officers could see stormclouds gathering and a storm comes which is a normal occurrence (economic downturns occur every decade or 2). Yes it is bad storm, but the captain, officers and crew should have prepared for it. The consequences of bad leadership, planning, and execution are failure. They all need to go; we should not reward incompetence (or whatever you call it) and let it continue. " I wonder what you would think if you actually worked in one of the companies. The board essentially lvies by your creed, above. And so everytime an issue which is entrenched in 30 years of bad decisions comes to a head, they axe the "man in charge", who may have been there about 2 weeks. So now we have a bunch of short sighted CEO's who have to worry about next quarter rather than long term viability. It's this very shortsighted take on the world that has caused most of these problems in the first place. Take a look at that ship again and realize that i that it has the 50 megaton anchor of 50 years of bad decisions welded right to the bow. How is this years leadership going to turn that ship around in these times. Most everyone agrees they were turning for the better. The last person to blame is Wagoner. Blame the UAW and the crap designs and the beancounters. Don't blame the messenger.
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