Edmunds.com | Inside Line | Auto Observer Your Account | Help | Directory
You are here:
![[F]](http://a332.g.akamai.net/f/332/936/12h/www.edmunds.com/media/townhall/webxicons/site.gif){kind=small}
Forums
Automotive News & Views GM News, New Models and Market Share
8692 messages, Last post on Dec 09, 2009 at 7:31 AM
You are in the Automotive News & Views Forum. Your Hosts are steve_ & claires
|
Replying to: bumpy (Dec 02, 2008 7:29 pm) |
|
|
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. |
|
|
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. |
|
|
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. |
|
|
Replying to: 62vetteefp (Dec 02, 2008 6:12 pm) Yes! Good god! It sounded good 3 years ago, but the closer to reality this gets the more of a turkey it becomes. I mean, really, what possible value could it have to GM? A halo effect? That's worth billions in development and marketing costs? It will never make money if it ever gets made in the first place. |
|
|
Replying to: tlong (Dec 02, 2008 9:31 pm) They see this as an unfortunate problem and a temporary obstacle. They fail to see that it's really a symptom of decay and ruinous policies that infests the entire management of the company. The proposal is a complete joke.
|
|
|
Replying to: plekto (Dec 02, 2008 10:10 pm) True. But is it good enough to pass congress?
|
|
|
Replying to: obyone (Dec 02, 2008 11:56 pm) There was an article in the L.A. times opinion section about this, where it was suggested that since the Government is basically taking control over much of the company, why not do the right thing and buy out the company entirely? The Government will end up having to take over the pensions and health care of the workers anyways when GM goes under in a couple of years, so that part of the equation is pretty much a moot point. That leaves the value for the money. GM is only worth $10 billion or so right now, and that's less than they wold waste in the next year on frivolous garbage. What would we gain? The article pointed out that it would fit well with Obama's desire to reshape our energy policy by making vehicles at cost and to fill a need rather than to pollute and make a profit. Losing a coupe of billion a year is far better than throwing 50 billion down a toilet and delaying the inevitable, after all. |
|
|
Replying to: cooterbfd (Dec 02, 2008 7:12 pm) Also consider the number of states that GM and Delphi are in. What have the STATES offered them? Or the CITIES - maybe in the form of tax breaks? If the people of MI and OH ... desperately need the Big3 - what are they doing? Maybe they can't provide all the support, but are they doing anything extra in the last 3 months? has anyone heard? Is MI issuing $5B in bonds or anything, and lending to GM? No? Why not? |
|
|
|
|
Replying to: kernick (Dec 03, 2008 5:48 am) That would work in normal times where the lobbyists and their cronies (congressfolk) hadn't messed up the financial system to the point where banks aren't lending the money that the FEDS just gave them to lend. Instead they're using it to bolster their highly over-leverages loan portfolios and are investing it in treasuries. >vIf the people of MI and OH ... desperately need the Big3 - what are they doing? I just saw a list of things that other states, three, had done to "win" (bribe) the foreign makers to build their plants in their nonunion states. As for Ohio and Michigan, we have tried to "lure" (bribe) the companies to build here but are discriminated against because of a higher union reputation and having US manufacturers plants in the area. The article I just read pointed out a Mercedes plant in AL that cost their taxpayers $200,000 per job. In Ohio the painting/body plant that's closing in December was given taxfree status a few years ago so that GM would upgrade the plant and continue to build and assemble the vehicles here. The jobs lost through the last years in those areas means the states' incomes are dropping. Granting loans and floating bonds to give more to the companies to make up for the damage caused by federal government laws and by buying of plant's locating in their states by other states isn't possible. EDIT: Ohio needs 5 Billion Ohio's Strickland helped campaign for BO after he campaigned for Hillary. He even had state employees doing campaign work on state time violating laws of privacy .
|
|
You are here:
Forums
Automotive News & Views GM News, New Models and Market Share
New? Join Now!
Forum Tools
Search Forums
Browse by Vehicle
Browse by Board
Browse by Topic
Today's Chats
