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Automotive News & Views GM News, New Models and Market Share
8579 messages, Last post on Dec 04, 2009 at 8:06 AM
You are in the Automotive News & Views Forum. Your Hosts are steve_ & claires
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Replying to: xrunner2 (Nov 11, 2008 8:12 am) Wagoner also said they were doing OK 3 months ago and Bankruptcy wasn't even being considered. Now he says they can't last the year. I wish he was my financial advisor, you?  What does he know, really? Regards, OW
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Replying to: circlew (Nov 12, 2008 4:29 am)
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Replying to: rockylee (Nov 11, 2008 9:01 pm) Hmmm, Rock isn't this what Wagoner and company did with the trucks / SUVs?  While most of us here don't want to see 3 million jobs to go (which would only happen if ALL the Big 3 went under, not just BK), we can't just sit back and allow the management (the company) to continue on in its current status quo state. Plus, GM is slashing jobs anyway, as is Chrysler and Ford; well except at the corporate level. Cutting your way to profitability has never worked (similar to that "make it up on volume" business model that doesn't work either). I listen to what Jim Kramer has to say...then do the opposite because that loud-mouth is more wrong than a chiffon dress in the rain. The problem is many aren't seeing the truth and that is Wagoner and crew didn't have any type of contingency plans in place to weather any type of storm. They were just a repeat of past failures and incompetencies that is now hitting them hard in the belt. Pure arrogance. And to just give them billions and billions of dollars without a plan to use the money (other than thinking 2010 is going to be a great year)...that rope-a-dope only worked for Ali against Foreman. Their begging, eh asking for assistance, is too similar to AIG, another firm "too big to fail".
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Replying to: cooterbfd (Nov 12, 2008 4:37 am) Who was the GM CEO when controlling interest in GMAC was sold? GMAC is not the only lender. Now we are getting back to proper lending practices. Loaning $30k to a 20 year old working at Wendy's is most times poor lending practice. Legitimate lending practices have to be put back in place if we are ever going to weather this storm. This country and many of its corporations are lacking good management. The failures in the auto sector are just a bit bigger than Starbucks or Circuit City. I don't believe for a minute that 3 million jobs are on the line. Even if they were there are 10.1 million people out of work today. If GM dies and gives up their market share the others will jump in to build the cars that the 145 million working people will want to buy. That expansion will put some of those now out of work on the assembly lines at Toyota, Honda, Hyundai, VW, BMW, MB or Nissan. |
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Replying to: circlew (Nov 12, 2008 4:29 am)
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what a bunch of jealous whine babies - if you don't work there then you don't know -you don't know and even if you know you still don't know - it's too late - the people in office have already decided, we don't get to know 'til later lol - what you really need to know is that we(not the banks) should have been bailed out directly somehow to increase the cash flow put the 'puter on standby 
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Replying to: jae5 (Nov 12, 2008 5:24 am) Do you have any evidence of this?? Just making it up?? LOTSSS of execs are being pushed out the doors with early retirement and there is not some huge golden parachute you guys keep talking about. The unclassifieds have the same 20% and now 30% cutting targets. I guess Wagoner, Lutz and Fritz are still there but there is a bit more to the corporate level.
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"still don't understand why GM as a corporation - the corporate entity itself, not talking about the the plants and workers, has to survive. Why can't GM selloff the assets and divisions for whatever they get, to other corporations? Why can't these divisions then with new owners pick new suppliers if they wish, hire old union workers or new union workers, and hire new management with Toyota-like manufatcuring,and hire new designers and such?" Good idea maybe but these companies "brands" are not really as separable as we might think. I would bet the economies of scale needed to be viable are not there unless these brands stay together under one corporate structure. I doubt MS would be into running such an operation anyway. Costs are king and the overhead is tough to cover. |
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| will people run out and snap up all the pickups, suvs, and big cuvs come 1/1/2010? GM needs those profit margins to survive, anyone here wants to bet that's gonna happen? | |
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Replying to: xrunner2 (Nov 11, 2008 9:06 am)
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