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Automotive News & Views What if you were in charge of GM?
874 messages, Last post on Oct 28, 2009 at 10:20 AM
You are in the Automotive News & Views Forum. Your Hosts are steve_ & claires
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"Porsche executives savaged rival carmakers yesterday for driving the industry to the brink of ruin and accused banks of forcing sound component supplier companies out of business." Porsche predicts hedge fund takeover of GM and/or Ford
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Replying to: gagrice (Dec 01, 2008 7:20 pm) I certainly don't want taxpayer monies used to fatten up the automakers for hedge fund managers. I see where the Big Three are driving fuel-efficient cars to DC this time and leaving the jets behind. Close barn door, horse gone. |
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Replying to: steve_ (Dec 02, 2008 7:49 am)
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Replying to: nippononly (Dec 02, 2008 12:31 pm) Holy crap! 18 Billion! (quote) ""There isn't a Plan B," said Chief Operating Officer Fritz Henderson. "Absent support, frankly, the company just can't fund its operations." He said GM would need $10 billion to $12 billion by late March"
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Replying to: Mr_Shiftright (Dec 02, 2008 3:40 pm) Then, after much talk to the contrary, their only elimination of brands is to try and sell Saab (who is buying?), well or kill Saturn (getting warmer) and make Pontiac a niche brand. Pardon me for saying so but hasn't the market already done that? If Pontiac is a niche brand what the heck is Buick with three models? I'm getting confused... 
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Replying to: fezo (Dec 02, 2008 4:06 pm) |
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Replying to: fezo (Dec 02, 2008 4:06 pm) Not needed: any brand not named Chevy or Cadillac. When are they going to get this? Note that car company with the blue oval logo, which only has three core brands plus a Swede, and is doing mucho better than General Morons right now, with 6 brands plus a Swede? And that particular Swede sells nothing unique, so it's really 7? I guess I'd do nothing if I were in charge of GM...apparently I don't meet the job requirements: my IQ is higher than 5.
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Replying to: bpizzuti (Dec 02, 2008 5:48 pm)
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Replying to: fezo (Dec 02, 2008 5:50 pm) 
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Replying to: Mr_Shiftright (Dec 02, 2008 3:40 pm) That's no more the final number than - the Big Dig in Boston originally costing $3B. All that is, is something GM thinks is palatable to get the ball rolling. Once they get this money committed, it is easier to come back and say "we just $10B more every 6 months because the economy hasn't turned around". It is much easier to ask for $18B and $10B and $10B ... rather than to come in and say "we're going to need $75B for the next 3 years, and we'll have a hell-of-a-time making any profit, to repay any of the loan". Check the history of the Big Dig or many other projects, and you'll see the "teaser amounts" given to get the project approved, and then how it snowballs from there. ABC actually carried a similar story last night, about the visitor center at the Capitol. That center would never have started (hopefully due to public outcry) if the real-cost had been told. We're a bunch of saps, or just powerless, to believe the costs we're presented when approving these projects. Even here you see proponents of giving the Big3 $25B and that will be enough. Well that $25B figure lasted what, 2 weeks, before it was revised - which way? UP. What a surprise!!! 
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