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CEO vows better performance as GM exits bankruptcy
Yahoo / AP ^ | 07/10/2009 | TOM KRISHER and KEN THOMAS

Posted on 07/10/2009 1:40:23 PM PDT by EagleUSA

DETROIT – General Motors completed an unusually quick exit from bankruptcy protection on Friday with ambitions of making money and building cars people are eager to buy. Once the world's largest and most powerful automaker, new GM is now leaner, cleansed of massive debt and burdensome contracts that would have sunk it without federal loans.

But GM, whose 40 days under court supervision was far shorter than anyone predicted, faces the worst auto sales slump in a quarter-century.

At a news conference, CEO Fritz Henderson said the revamped automaker will be faster and more responsive to customers than the old one. It will generate cash and repay billions in government loans ahead of a 2015 deadline.

The new company will build more cars and trucks that consumers want and launch them faster than in the past, the CEO said. GM also announced a partnership with eBay Inc. to test auctioning vehicles online.

"We recognize that we've been given a rare second chance at GM, and we are very grateful for that. And we appreciate the fact that we now have the tools to get the job done," he said.

(Excerpt) Read more at news.yahoo.com ...


TOPICS: Business/Economy; Crime/Corruption; Government; Politics/Elections
KEYWORDS: automakers; fix; fraud; generalmotors; nationalization; sham
Obama's payback gift to the UAW gets special treatment. Who would have thought it ????
1 posted on 07/10/2009 1:40:23 PM PDT by EagleUSA
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To: EagleUSA
building cars people are eager to buy

Memo to Government Motors: for me, that does not include tiny cars running on batteries.

2 posted on 07/10/2009 1:42:21 PM PDT by colorado tanker ("Lastly, I'd like to apologize for America's disproportionate response to Pearl Harbor . . . ")
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To: EagleUSA

They can KMA. I’m not supporting something that basically helped SCREWED Americans out of mucho dinero.


3 posted on 07/10/2009 1:43:59 PM PDT by wolfcreek (KMTEXASA!)
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To: EagleUSA

“At a news conference, CEO Fritz Henderson said the revamped automaker will be faster and more responsive to customers than the old one.”

That will be a neat trick - with a fraction of the dealers - and their service sucked to begin with...


4 posted on 07/10/2009 1:44:08 PM PDT by jessduntno (NEVER say Cap and Trade Bill. It's the Electricity, Heating Oil and Gasoline Tax Bill....)
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To: EagleUSA

And I promise to never eat chocolate again—NOT!


5 posted on 07/10/2009 1:45:37 PM PDT by freeangel ( (free speech is only good until someone else doesn't like what you say))
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To: colorado tanker
building cars people are eager to buy

They're building Fords?

6 posted on 07/10/2009 1:45:45 PM PDT by Maceman
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To: EagleUSA
He said the U.S. government, which owns a majority stake in GM, has vowed that it would not get involved in day-to-day decisions.


7 posted on 07/10/2009 1:45:57 PM PDT by darkwing104 (Lets get dangerous)
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To: EagleUSA

Good luck with that Fritzy. You’re still going to have union workers working for you.


8 posted on 07/10/2009 1:46:38 PM PDT by FlingWingFlyer (Hey America! How's that "hope and change" thing working out?)
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To: Maceman

Good one!


9 posted on 07/10/2009 1:47:00 PM PDT by colorado tanker ("Lastly, I'd like to apologize for America's disproportionate response to Pearl Harbor . . . ")
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To: Maceman
“At a news conference, CEO Fritz Henderson said the revamped automaker will be faster and more responsive to customers than the old one.”

I'm sure the government backed-warranty will deliver a most excellent customer experience.

10 posted on 07/10/2009 1:47:09 PM PDT by Maceman
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To: EagleUSA

Saw a Subaru wagon on sale yesterday, 40 plus thousand for a crappy little Subaru?
No wonder they are having trouble selling cars.


11 posted on 07/10/2009 1:47:15 PM PDT by Joe Boucher (Patrick)
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To: EagleUSA

Lie, lie and lie. More bs


12 posted on 07/10/2009 1:47:29 PM PDT by freekitty (Give me back my conservative vote.)
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To: EagleUSA

The goobermint check wasn’t even cashed before Barney Fwank started interfering with plant/dc closings.

F GM!
I’ll never buy another UAW-made car again.
Even a Ford.

It’s time to kill the UAW!


13 posted on 07/10/2009 1:47:34 PM PDT by SJSAMPLE
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To: EagleUSA

If I buy American,it will be Ford.

They didn’t,like GM and Chrysler,sell their free market souls to Obama in order to save their union bosses and their fat pay and benifit packages at taxpayer expense.

Both are now Unamerican Motors in my book.


14 posted on 07/10/2009 1:47:58 PM PDT by Happy Rain ("If every man who swore to uphold the US Constitution actually did so...")
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To: Maceman
I'm sure the government backed-warranty will deliver a most excellent customer experience.

Yep.

GM will just join Amtrak and the USPS as one more government organization that need not be concerned with profitability.

15 posted on 07/10/2009 1:48:36 PM PDT by TChris (There is no freedom without the possibility of failure.)
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To: EagleUSA
blah, blah, blah - and what changed during the bankruptcy? Prediction - they will continue to receive taxpayer cash on a regular basis until they are shut down for good, or, they will be back into bankruptcy in the next couple of years.

They make and sell junk cars, have for decades, and I, for one, will never own one of their vehicles.

16 posted on 07/10/2009 1:49:31 PM PDT by rigelkentaurus
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To: freekitty

building cars people are eager to buy

1. GM has been clueless about what cars people want to buy for over 30 years now.
2. Given the above GM will build what they are told to build.
3. What a waste of metal and plastic.


17 posted on 07/10/2009 1:51:01 PM PDT by Wooly
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To: EagleUSA
"building cars people are eager to buy" - like the new Gaymaro?
18 posted on 07/10/2009 1:51:11 PM PDT by Spktyr (Overwhelmingly superior firepower and the willingness to use it is the only proven peace solution.)
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To: EagleUSA
It will generate cash and repay billions in government loans ahead of a 2015 deadline.

How that line of BS is never challenged I'll never know.

19 posted on 07/10/2009 1:51:43 PM PDT by Las Vegas Ron (zer0 is doing to capitalism what Kennedy did to health care)
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To: wolfcreek

I will NOT buy any post-2009 GovMo car. Period.


20 posted on 07/10/2009 1:53:18 PM PDT by MortMan (Stubbing one's toes is a valid (if painful) way of locating furniture in the dark.)
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To: MortMan
Double that for Chrysler. They sucked to start with.
21 posted on 07/10/2009 1:54:54 PM PDT by wolfcreek (KMTEXASA!)
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To: EagleUSA

Fine GM, and I vow to never buy an Obama car.


22 posted on 07/10/2009 1:55:04 PM PDT by Gator113 (I live in "one of the largest Muslim countries in the world." Imam Obama told me so.)
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To: EagleUSA
Image and video hosting by TinyPic
23 posted on 07/10/2009 1:55:58 PM PDT by Recovering_Democrat (I'm SO glad I no longer belong to the party of Dependence on Government!)
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To: wolfcreek

Absofrickinglutely!


24 posted on 07/10/2009 1:56:13 PM PDT by MortMan (Stubbing one's toes is a valid (if painful) way of locating furniture in the dark.)
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To: Gator113
ever buy an Obama car.

If Cuba can do it, we can to(keep our old cars running).

25 posted on 07/10/2009 2:01:23 PM PDT by norraad ("What light!">Blues Brothers)
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To: norraad

..woops, two, I mean 2, too!


26 posted on 07/10/2009 2:02:13 PM PDT by norraad ("What light!">Blues Brothers)
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To: EagleUSA

They may be cleansed of massive debts, but they havent paid their massive debts.


27 posted on 07/10/2009 2:12:02 PM PDT by Venturer
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To: Las Vegas Ron

How that line of BS is never challenged I’ll never know.
:::::::
It is a bloody lie. We know it, they know it. I wonder how the UAW is going to “manage” the mess they now control? What this administration is GETTING AWAY WITH is beyond comprehension.


28 posted on 07/10/2009 2:12:49 PM PDT by EagleUSA (if)
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To: EagleUSA
GM will exit bankruptcy , they'll do it without the help of me or any of my family... f'ck em.
29 posted on 07/10/2009 2:13:26 PM PDT by erman (Outside of a dog, a book is man's best companion. Inside of a dog, it's too dark to read.)
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To: EagleUSA
As someone who's until recently bought nothing but American cars his entire life, all I'll say is this:

Government Motors Can Kiss My Ass.

They'll not get one thin dime from me, ever again. My 2005 GMC Envoy Denali is the very last GM vehicle I will ever purchase. Once it's gone, it's Toyota or Honda for me. Nothing else.

30 posted on 07/10/2009 2:14:54 PM PDT by usconservative (When The Ballot Box No Longer Counts, The Ammunition Box Does. (What's In Your Ammo Box?))
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To: Venturer

They may be cleansed of massive debts, but they havent paid their massive debts.
:::::::
And they never will. This is fraud of MASSIVE proportion. They exit bankruptcy with NO ACCOUNTABILITY for their debts. And the perps do so with no remorse or accountability for their law-breaking.


31 posted on 07/10/2009 2:15:59 PM PDT by EagleUSA (if)
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To: EagleUSA

No Obama motors for us. We are looking at a Ford Edge.


32 posted on 07/10/2009 2:18:01 PM PDT by Parley Baer
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To: usconservative
My experience is if you do ever wear one out (300,000 mile +) you can always find another just like the one you like that has been babied with few miles for pennies on the dollar.

I haven't bought new since 1980, and I'm very comfy and not poor ( auto expense wise).

33 posted on 07/10/2009 2:19:45 PM PDT by norraad ("What light!">Blues Brothers)
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To: rigelkentaurus

You are so correct about nothing changing so Government Motors will need to be continually be bailed out by the taxpayer. What else can you expect when they are 80% owned by the US Govt and the UAW. Like Tchris said, they will be run just like Amtrak and the USPS.

There is one thing that has changed. The bond holders were screwed and will not allow themselves to be burned again. GM still has $50 Billion in debt. They will need to reservice that debt in the future, and you can bet no private equity will buy their junk bonds ever again knowing that they will be screwed by 0zer0. Therefore, no future private equity debt so it will all be funded by the taxpayer in the future in a never ending black hole.


34 posted on 07/10/2009 2:28:57 PM PDT by SDShack (Obamanomics = Economics + Moronics)
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To: EagleUSA
Government Motors
    where you can own a piece of the crock


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35 posted on 07/10/2009 2:32:34 PM PDT by DoughtyOne (_Resident of the United States and Kenya's favorite son, Baraaaack Hussein Obamaaaa...)
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To: Joe Boucher
Yeah right, that's why Subaru had their best June ever and sales for 2009 were only down 1%. Source.

Way to check the facts.

36 posted on 07/10/2009 3:23:23 PM PDT by 10Ring
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To: EagleUSA

I ain’t buying a funky government car.


37 posted on 07/10/2009 3:32:36 PM PDT by freekitty (Give me back my conservative vote.)
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To: EagleUSA

Pickup Truck Guy wants a new truck to replace his 10 yo top o line Silverado. Once a diehard Chevy fan, but he says this time it will not be a Chevy. He is looking at F150s and Toyota Tacomas. I wonder how many people out there feel like he does.


38 posted on 07/10/2009 3:35:11 PM PDT by sportutegrl (If liberals could do math, they would be conservatives.)
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To: sportutegrl

One here. Have an old Dodge that is worn out, but fixing to buy a used Toyota to replace. I have an older Dodge truck and had to replace transmission last December. Ok fine, truck has 270K on it, but engine is still good. If the engine goes, I can replace it for about 4K. Only reason I would replace it is if it gets stolen or totaled. Then it would be a Toyota Tundra. Just as this commie govt has been a hell of a salesman for the firearms industry, they may be the greatest Toyota salesmen as well. Nice going dim party/dim media. You all just put a lot of UAW types out of work.


39 posted on 07/10/2009 3:53:58 PM PDT by Texas resident ( Cut n Shoot Texas: Mayberry for rednecks)
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To: Joe Boucher

That “little” Subaru mounts a 330 horsepower turbo engine, has AWD, and goes 0-60 in 4.4 seconds flat.

Nothing that Ford, GM, or Chrysler makes with four doors is that fast for less than $20,000 more, and they don’t offer AWD on that one (CTS-V) either. Anything in the price class is *slower*. That little Subaru is faster than the G8 GT, CTS, Dodge Charger SRT8 and even the upcoming Taurus SHO.

And it gets 25mpg while doing it with three of your friends in it.

No wonder the Big Three can’t sell cars.


40 posted on 07/10/2009 3:56:38 PM PDT by Spktyr (Overwhelmingly superior firepower and the willingness to use it is the only proven peace solution.)
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To: EagleUSA

Hopefully those who dont get paid will refuse credit.


41 posted on 07/10/2009 5:12:30 PM PDT by Venturer
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To: EagleUSA

I drove by the dealers in town today, the Chevy and Chrysler dealers were packed (choked really) with new cars.


42 posted on 07/10/2009 8:38:00 PM PDT by razorback-bert (We used to call them astronomical numbers. Now we should call them economical numbers.)
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