Posted on 12/03/2008 11:15:36 AM PST by george76
A top General Motors executive repeated claims Wednesday that the auto giant may not make it to New Year's Day if Congress doesn't approve a federal bailout for the beleaguered industry.
"We've seen … not only continued pressure in our business but the pace of deterioration has accelerated. October and November were just the worst levels we've seen post-World War II."
(Excerpt) Read more at cbsnews.com ...
Actually, several are. The Z4 Roadster is *only* made in the US, and they ship them back to Europe and the rest of the world.
Likewise, the X5 is only made in the US. The forthcoming X6 will also be a US-production-only car.
Why? That tax credit would have to be pretty huge to be worthwhile, and a tax credit of any amount is still a taxpayer-funded bailout.
Stop giving the Union jerks my taxpayer dollars.
They are incompetent, useless and would starve to death if they lived in another country.
Give them NOTHING!!!!!!!!!!!!!
See ya GM and thank the UAW on the way out ...
“Ford Fusion is a Mazda 6, that is assembled in Mexico. A Fine American car, yep.”
The foreign subs of GM and of Ford seem to make better cars, than the American designed models.
Come to think of it, the foreign subs seem to be better managed divisions, than the parent companies.
I read somewhere that Saab and Volvo had applied to the Swedish govt. for help.
“Ford Fusion is a Mazda 6, that is assembled in Mexico. A Fine American car, yep.”
The foreign subs of GM and of Ford seem to make better cars, than the American designed models.
Come to think of it, the foreign subs seem to be better managed divisions, than the parent companies.
I read somewhere that Saab and Volvo had applied to the Swedish govt. for help.
Hey GM, don’t WARN me about anything! Go under folks, maybe you’ll learn valuable lessons on economics, what the people want in vehicles and how to build ‘em better but if not, you’ll have to find new jobs, but not on my dime.
I say this full-well knowing that a bailout is coming to these #@#*!!#!.
Let’s bail out the the White and Blue collar Plutocrats so they can continue as before and we can bail them out again. ENOUGH!!
Hey, I completely agree with you. They should go “pre-packaged Chapter 11” before they’re out of cash and have NO room to negotiate anything that comes down out of the court.
The reason why the management doesn’t want it: Let us assume for a moment that you or I were the special master appointed by a court to clean up any one of the Big Three. ie, we’re some management consultant/MBA/CPA with the power of the court behind us - and we can make unilateral decisions on behalf of the creditors as long as our decisions improve the ability of the creditors to recover their money.
Can you think of any scenario where you or I don’t slash management’s ranks, strip them of their comp packages, perhaps sack the entire exec staff and bring in a breakup specialist to break the company up into components for sale?
Neither can they.
Don’t t let he door hit ya where the good Lord split ya! Adapt & overcome jerkwads!
That’s probably not the best approach to take if they want to sell cars NOW. If I were in the market for a vehicle, I wouldn’t buy one from a corporation that says they’ll close their doors if fedgov doesn’t give them a bunch of taxpayer money.
How many dealerships could afford to do any factory warranty work if they had to eat the costs themselves?
Last GM vehicle I owned was a 2001 Buick Regal GS. Overall, I liked the car, decent mileage, good power, looked nice.
Took it to the dealer for the check engine light (my scanner said it was the EGR, but didn't get more specific). Well, over $1,000 later, I had my car back.
I complained to the "service" rep I had that I didn't think this problem should have occurred on a car with less than 40,000 miles on it. I was one year over the 3 year warranty and 1,500 miles over the 36,000 limit at the time. She said, point blank: "Well, they are designed to fail."
I called Buick's national customer service line to report that, and let them know exactly why I'd never buy another Buick, or GM product again.
Dump the UNIONS!!!! That will buy GM at least a decade - and possibly a much longer life.
A bailout by the Feds will buy them a month or so...
That would be me and my household... bought a new Impala back in April.
Has been an ok car so far - but some QC issues have already shown their faces.
Too bad GMAC can't go down in flames along with GM (GMAC isn't owned by GM, but by Cerberus - the owner of Chrysler...go figure). IF GM doesn't have to pay their bills (or honor the warranty), then I shouldn't have to make my payments on this car... right?
No- there probably are not any assembly line workers making $70 an hour... but have you really checked out the contracts? My Father In Law worked for a time in a Chrysler assembly plant... He made VERY good money plus impressive benefits (many executives would blush), including paid time off to pursue education in ANY subject - with the schooling paid for too!
Some other pretty incredible “benefits” as well.... It is no wonder American cars sell for as much or more than their Jap/Korean equivalents.... with generally lower quality and resale value... Less of the price goes into quality control and design, and more goes into the pockets of union employees...
I don’t recall the last time I heard of a Nissan plant here in the US seeing threats of a strike for higher pay or benefits... nor have I heard any complaints from those employed in such plants... They are glad to have the jobs and benefits they are provided. Honest wage for an honest day’s work. What ever happened to that concept? OH yeah - that isn’t part of the Union dictionary...
may not make it to New Year’s Day if Congress doesn’t approve a federal bailout for the beleaguered industry.
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If they’ve already purchased NYE favors, napkins, plates and cups I’m willing to buy them at 5 cents on the dollar.
If I could get a tax-credit for buying a GM car, I would do it tomorrow.
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And you’ll do the upkeep and repairs where?
Now the unions want to GM Walmart.
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