GM hangs by a thread!!!
- Thread starter redlineguy
- Start date
Glad I sold my GM shares when they were about 40 times that 
(five years ago)
Pretty chitty it's happening tho
(five years ago)Pretty chitty it's happening tho
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GMCRMK
Well-known member
Hopefully the other auto makers and UNIONS will learn from their mistakes.
D
decarls
Member
So... if / when this happens, what happens to all of the bailout dollars they've recieved so far? Also, did I read it corectly that they have to establish a fund for the union? Shouldn't the union be babysitting their own since they are a big reason GM is in this prediciment?
I think the whole thing stinks, things just don't add up.
I think the whole thing stinks, things just don't add up.
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Surely they will keep the Pontiac line with our current president..Especially knowing what the acranym. Anybody else remember what P.O.N.T.I.A.C stands for?
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decarls
Member
lmao
Common shares will be wiped out when BK is filed. Speculators will keep them trading around a .25 for another year or so but they are worthless.
What? You don't think some idiot with a G.E.D (if you're lucky) should make $150k on avg a year in benifits and income for pushing buttons on an assembly line. Come on, were America, were intitled to that money.
The high CEO and employee pay are just expenses, we can compete in the global economy..... F/U
Oh yah I almost forgot, the bail out money, of course they paid the unions. How else would you buy the votes of un-educated sheep for the Dem's.
I remember listening to all the conservative talk shows when the auto manufacturers were getting the first bailout. Every one of them was trying to get the message across that the business model is broken and giving them money will only help them limp along for a few months and they'll be right back in the same boat. Sure enough.... Money well spent!
The only way GM will pull out of this is if they sell vehicles & no bailout can help, Now coming from a GM family I know that when GM closed plants (thanks NAFTA) in the states that stopped people from buying GM vehicles. Think about it, Each job was worth 1 or 2 vehicles every year or two. Heck some of my friends brought a new vehicle every year for the wife or kids to drive because they could afford it. No job no new vehicle but GM looked @ it as we can make more money making these vehicles in mexico & selling them here..... Problem is there are now fewer buyers because of lost jobs (NAFTA)or people whom got trapped in the housing mess.
Just my opinion but if the goverment would fix what Clinton & NAFTA or Barney Frank & Chris Dodd F'd up in the housing market people would have a disposable income again & be able to buy vehicles. What would it take for any of you to go out & buy a new vehicle right now? I'm betting that most just need more money in their disposable income. The Dumbacrates still blame Bush for $4.00 gasoline causing this, I blame Dodd & Frank along with Clinton's NAFTA.
Funny thing is GM is strong overseas, My buddy was in China last summer for over 2 months looking to setup a mfging plant, Every bigshot he met with was driving a Buick Enclave, Not a BMW, Benz or Caddy but a Buick! His contact took him to the dealer in china & GM is selling the Enclaves for over $100k & here around $50k & he said Buicks where everywhere & Wagner (before he was Obamanated) said GM overseas was stronger than ever..... But I guess strong oversea's doesn't amount to crap here
1st fix the damage caused by NAFTA & that alone will fix much of what is F-d up, People here want to work for a decent wage!!!!!
2nd fix the housing market mess caused by giving loans to people whom could not afford them.
Better yet would be to do away with big government period!
Anyone remember that little guy shaking the vodoo stick saying that "Giant Sucking Sound" was coming?
Hmmm Whats up with Ross Perot today & how did he know that giant sucking sound was jobs leaving america?
Just my opinion but if the goverment would fix what Clinton & NAFTA or Barney Frank & Chris Dodd F'd up in the housing market people would have a disposable income again & be able to buy vehicles. What would it take for any of you to go out & buy a new vehicle right now? I'm betting that most just need more money in their disposable income. The Dumbacrates still blame Bush for $4.00 gasoline causing this, I blame Dodd & Frank along with Clinton's NAFTA.
Funny thing is GM is strong overseas, My buddy was in China last summer for over 2 months looking to setup a mfging plant, Every bigshot he met with was driving a Buick Enclave, Not a BMW, Benz or Caddy but a Buick! His contact took him to the dealer in china & GM is selling the Enclaves for over $100k & here around $50k & he said Buicks where everywhere & Wagner (before he was Obamanated) said GM overseas was stronger than ever..... But I guess strong oversea's doesn't amount to crap here
1st fix the damage caused by NAFTA & that alone will fix much of what is F-d up, People here want to work for a decent wage!!!!!
2nd fix the housing market mess caused by giving loans to people whom could not afford them.
Better yet would be to do away with big government period!
Anyone remember that little guy shaking the vodoo stick saying that "Giant Sucking Sound" was coming?
Hmmm Whats up with Ross Perot today & how did he know that giant sucking sound was jobs leaving america?
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Zachcreek
Well-known member
In Minnesota it stands for "Poor Old Norwiegen Thinks Its A Cadillac"
In Wyoming it stands for the same thing it does in NE!
In 2007 GM sold the most vehicles in company history. Also in 2007 credit was so easy to come by a 17 year old kid could walk out of any dealership with a vehicle. High volume, easy credit. Nothing better.............
But in 2007 GM lost 40 billion dollars.
GM's problem is not that they can't sell vehicles, their problem is that they can't make money selling vehicles. The more vehicles they sell the more they lose.
1 - Their manufacturing/management cost are higher.
2 - Americans refuse to pay anyware near MSRP price for a big three product like they do for Toy/Hon.
But in 2007 GM lost 40 billion dollars.
GM's problem is not that they can't sell vehicles, their problem is that they can't make money selling vehicles. The more vehicles they sell the more they lose.
1 - Their manufacturing/management cost are higher.
2 - Americans refuse to pay anyware near MSRP price for a big three product like they do for Toy/Hon.
All will be re-negotiated just like it will with anyone else like UAW. Not going to be good. GM is already holding dealers money that is contractually belonging to dealers.
