Wait, you mean it was the bankruptcy clean-up rather than the government bailout that has helped Government Motors to get into better shape? Why didn't we just let the bankruptcy cleanup happen first? (Seems like I remember some of us around here suggesting that.)
patriots do not buy GM products
I suggest Pelosi investigate those people who don’t buy GM cars.
Ahem ... businesses use cash flow, not book income, i.e. earnings, to pay their bills.
So how much more cash does Government Motors need to generate to repay the bondholders that were screwed in the government takeover ... and how many Chevy Volts do the idiots have to peddle in order to do this?
I don't see Government Motors able to do it.
I am sure the o cabal will be buying gummint motors fleets with our tax dollars.
According to GM, they already paid back those loans.
When I walk through my company parking lot I always notice there is only one late model car with peeling paint. Guess who made it? GM has 20+ years of perception of producing junk to overcome. The bailout just reinforced the image of an invalid corporation that doesn’t care what it produces.
We should consider the money given to GM sunk-costs (lost forever) and just get out.
The dangers that arise from the federal govenment owning a stake in a private enterprise (especially one as large and important as GM) far outweigh any money the taxpayers may lose.
Money lost is just money. Losing our freedoms is a different story.
I vote lose the money and keep the freedom.
55 chev with a 283 four barrel, 57 chev with a 301, rich guy down the blocks 409, the incredible 83 goat, 396’s, 427 Camero’s, sleeper Chev II with a 327....
how could a company that produced so many fond memories have turned into such a POS.
How long before GM is in the tank again?
“low-margin industry”.... yeah made so low by the Unions... I once saw the figures on how much of the cost of each vehicle produced in a UAW plant is directly associated with UAM demands and benefits.
Why is it that the Japanese (and Koreans now) build plants generally in “right to work states”? Simple - they are not forced to recognize the unions.
My Nissan Titan (built in Mississippi by non UAW workers) has been a better vehicle than my last new vehicle (a GM product). While it has had a couple of recalls - they have not been major issues, and were not safety-related. The initial quality off the dealer’s lot is better, I haven’t had the odd quirks of the GM I had either.
By the way - my Titan is a 2009. The vehicle it replaced was a 2008 Chevrolet Impala. It had all sorts of quirks - though a fairly nice vehicle. It just had so many little issues - that the GM dealerships didn’t want to recognize (even when they could be demonstrated in their presence). Noises, water leaks on window/door gaskets, funny shifting transmission, delivered with a warped power steering pulley, paint that didn’t want to stick, etc.
My first Dodge truck was a 2000 model - it was made in a UAW plant. It was a pretty good truck (though it had some issues - most notably, a transmission sensor that after 3 visits resulted in a brand new transmission), a leaky water pump housing, and some various paint issues itself.
Bought a 2002 Ram (same model/trim level) but made in the plant in Mexico - not UAW, I don’t believe... was actually a better made truck, particularly in fit-and-finish. And this was the first year model of a brand new body and interior, plus the first year of the 4.7L V8. That truck was great, and I still miss it. I had no issues at all with it, and kick myself in the tail every time I think about it. The vehicle that followed that was a 2004 Chevrolet Tahoe - liked the look and room. Got fair gas mileage... had issues - especially with Delphi-produced electronics (entire gauge cluster had to be replaced...).
Wife had a 2002 Oldsmobile Intrigue - and thank GOD for the extended warranty we purchased. A/C went out at 60K miles. Transmission grenaded at 76K miles, insanely complicated emissions equipment (electric pumps that push fresh air into the exhaust just before the cats - at over $1K each - that were engineered with an opening that scooped water any time it rained hard... thus failed regularly...
The list could go on...
Get rid of the union - and make wages and benefits more in-line with the real world, and GM could be profitable and out of debt to taxpayers in short order. But that won’t happen...
This is Democrats call a ‘success’. Better yet, GM is shipping jobs to Mexico using the TARP money to open plants there.