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Automotive News & Views GM News, New Models and Market Share
8548 messages, Last post on Dec 01, 2009 at 10:49 PM
You are in the Automotive News & Views Forum. Your Hosts are steve_ & claires
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Replying to: cooterbfd (Dec 02, 2008 5:57 pm)  They are now bullet proof because Uncle Sam will save all financial institutions. Lehman was an "Oops!" Regards, OW
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Replying to: nippononly (Dec 02, 2008 4:43 pm) 40? That's still way too many. 15 would cover the market. *Chevy Aveo (sedan and hatches) Cruze (sedan and coupe), some CUV on this platform Malibu, Equinox Traverse (including Enclave) Impala (aka Holden Commodore), Camaro Corvette *Cadillac CTS (sedan, coupe, wagon- Holden Statesman reskins) SRX- CUV on Statesman platform DTS- long wheelbase CTS *Chevy truck Colorado, Silverado, Suburban, whatever the work van is called Okay, that's sixteen. |
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Replying to: bumpy (Dec 02, 2008 6:07 pm)
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Replying to: circlew (Dec 02, 2008 6:01 pm) Maybe another way to have the government handle this is to tell the banks we'll guarantee their debt, but seeing as how you guys have the trillion or so in cash, heres the rules: 1) Restructure their debt into 30 yr bonds at say, 8.5% 2) No payments or interest accrual for 24 months 3) We get 3% Seeing as how the Big 3 are in Dire straits, here's YOUR rules: 1) Car Czar will be appointed to oversee compliance with agreements w/ gov't (see below) 2) Executive pay limited for life of this agreement (30 years???) 3) No Jobs bank 4) Czar will have final say on labor agreements 5) Preferred stock equvallent to 7.5% of company given to Government as collateral This way, the Big 3 get relief, get the $25 billion for retooling that has already been passed, but no extra money changes hands.
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Replying to: 62vetteefp (Dec 02, 2008 6:12 pm)
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Replying to: nippononly (Dec 02, 2008 4:43 pm) GM also plans to trim its U.S. dealerships from today's 6,450 to about 4,700, Henderson said. It will cut about one-third of the nameplates from its vehicle lineup. I'm happy to hear they finally came to their senses about cutting brands.... Not exactly what I would propose but it's a good start. Agree that they still will have way too many dealers. Toyota gets it done with under 2000 dealers. Also not sure why they think the UAW will come to the table and accept more concessions and job eliminations. Sure the writing is on the wall that GM needs to reduce labor costs to survive but I don't see the rank and file of the union caving in. I'm sure it has happened at some point in history but I have never seen anyone vote to give themselves less money and less job security. And does anoyone really believe they can do this with only $12B from the government? The numbers don't work out. I still say Chapter 11 is the only way they can make this work. BTW, the US sales numbers for November are horrible....across the board. I don't think we have hit bottom yet. More and more people will continue to go to the used car market. Lots of late model cars (lease, fleet and rental) available. |
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Replying to: bumpy (Dec 02, 2008 7:29 pm) |
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Replying to: cooterbfd (Dec 02, 2008 5:57 pm) That was part of the GM plan to get rid of some of that debt through strong arming the lenders. They are not going to pay the $66billion back. We will get stuck with that no matter what else happens. GM is hoping for a marketing miracle where 5 million people decide all of a sudden they have to have a GM vehicle. The sales are not going back to 15 million vehicles for years. People have been buying on home equity and shoddy lending practices. Hopefully the bankers have put that behind them. |
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Replying to: nippononly (Dec 02, 2008 4:43 pm) 1 - It's not aggressive enough 2 - not enough specifics on phaseouts, timing, and union concessions. Looks like a carrot to get the money and then "we'll see..." 3 - GMC should also be folded into Buick/and/or Chevy 4 - Wagoner should be replaced Clarify #2, do #3 and #4 and then we are starting to have a viable plan. Otherwise forget bailing GM. |
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Replying to: nippononly (Dec 02, 2008 4:43 pm) Gettlefinger said on Sunday that the UAW costs were "now competitive". This quote says 2012. I smell a lot of propaganda. They're all piling the poop higher and deeper to sell the bailout to congress. See how one of GMs big claims is still holding the economy hostage: "We'll take a bunch of the economy down with us if we're allowed to fail". No accountability for Wagoner's screwups over 14 years. Pathetic. And now they pick our pockets. |
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