November 24, 2017, 05:54:38 PM *
Welcome, Guest. Please login or register.

Login with username, password and session length
News:
 
   Home   Help Search Login Register  
Pages: [1]   Go Down
  Print  
Author Topic: GM woes  (Read 872 times)
0 Members and 1 Guest are viewing this topic.
super61
Grizzled Veteran
*
Offline Offline

Posts: 344



« on: December 03, 2008, 02:37:13 AM »

seems that part of the plan that GM is pitching to get bailout money, pretty much is the end of the line for the pontiac and saturn lines and the sale of the saab division. it looks as tho pontiac is all but done and will not be sold off. saturn may have life if someone makes an offer, but is not officially for sale. it is unforunate for those thousands who will be without work and possibly pensions, but it is high time that these large corporations are held accountable. the head of GM saying that he will lower his base salary to $1.00 is a joke. he is still in line to make over $19 MILLION in bonuses this year and next. i have never worked for any company that rewards you for failure. i say let them all fall.

Logged

never under estimate what an angry mob can accomplish
Cheryl
Moderator
Hall of Fame
*****
Offline Offline

Posts: 5407



WWW
« Reply #1 on: December 03, 2008, 01:09:34 PM »

What I heard on the news last night was that the proposal is for Pontiac, Saturn and Saab (?) to merge.  I can't believe they'd give up a good-selling line like Pontiac over Saturn.  Yeah, Saturn was suppose to be the innovative production process, but realistically, how many have they sold?  I see a lot more late-model Pontiacs on the road. 

Cheryl
Logged
old hot rodder
All-Star
*
Offline Offline

Posts: 2022


« Reply #2 on: December 11, 2008, 04:00:18 PM »

Trouble is, Cheryl, that the "corporate platforms" and "corporate engines" makes each brand rather generic. Lincoln used to have a good ad on TV years ago which poked fun at the folks at the valet parking spot getting their Buicks, Caddys and Oldsmobiles all confused. This was in the 80's I think. Truth is, there really was little distinction amongst the brands.  I think that is still true for the GM folks.

  Trouble is, if GM fails, the funds held by Michigan, Ohio and perhaps some other states for unemployment, food stamps, medicaid, etc. will be gone in a matter of weeks. We don't have, in my opinion, enough time to re train all these workers into high tech types, medical techs or wherever the jobs are now. Letting GM et al fail is no more of a viable option than was letting the financial system fail. Unless of course, you really want to see soup lines, bread lines, etc. I know that my opinion is not very charitable toward some, but Charity begins at home, not simply giving tax breaks to every foreign owned company who wants to build a plant in the South or in the North, for that matter.

Dick (now steps off the soap box) Grin
Logged

"Act as if what you do makes a difference. It does"
William James
super61
Grizzled Veteran
*
Offline Offline

Posts: 344



« Reply #3 on: December 12, 2008, 03:14:40 AM »

but without a viable business plan, a few years down the road, we are in the same boat. businesses start and fail. i have a large amount of stock in gm that i have taken a bath in.  do i want them to succeed, yes. do i as a taxpayer want to continie to bail out companies where proifitable or not, the ceo, cfo, etc take home millions in bonus money? hell no!!! the major hurdle i see in these companies making money domestically is the union benefits packages that reward useless employees raises every year for just showing up. as far as giving tax breaks, these companies go to other countries for the same reasons other companies come here. tax breaks.
 you can look at all of these investment firms that jumped on the nascar bandwagon as a perfect example of a business plan gone wrong. every single one us knows that racing is a non-profit sport with out major sponsorship and then, you might be at break even. the major amounts off layoffs are purely based on the fact that these new owners have made billions by making the right decisions or in the right place at the right time and are not going to settle for throwing money away.
for any business, regardless of stock held, etc, i just cannot for the life of me see how you can continue a downward spiral and expect things to change if you do nothing to change.
and remember i work full time for a state funded college and if you want to see wasted money, work at one of these places. if the basic taxpayer knew what went on, there would never be another levy passed anywhere.

see what you started Dick?

lol
 
Logged

never under estimate what an angry mob can accomplish
old hot rodder
All-Star
*
Offline Offline

Posts: 2022


« Reply #4 on: December 12, 2008, 04:03:14 PM »

LOL indeed! Grin Grin

I really don't disagree philosophically. I just think that as a pragmatic matter, we've let things go toofar, plus the politicos have opened a Pandora's box with this bailout stuff to begin with!
  I think we need to work toward a middle road some where, do every thing we can to encourage the Big 3 to work toward a totally new, green personal transportation concept. I still say that if GM brings out the VOLT or what ever they call the electric vehicle, I'll be in line to get one, (but I'll keep my gas powered rigs to pull my boat, etc when necessary). A 40 mile range w/out recharging would take care of 90 % of my needs.
  Today, for instance, from home to here to a professional appoinment, to a medical appointment to here to home will be about 40 mile, maybe 45. So, a few ounces of gas would do it! Grin And I better get with it. See ya later.

D ick
Logged

"Act as if what you do makes a difference. It does"
William James
Cheryl
Moderator
Hall of Fame
*****
Offline Offline

Posts: 5407



WWW
« Reply #5 on: December 18, 2008, 03:25:18 PM »

I heard about this on local radio this morning.  I think they are really serious here, but it still bugs me that the laid off employees still get such a large percentage of their salary because of the unions.  I'm NOT a fan of unions at all and I think the UAW is one of the biggest problems with the profitability of the US car companies.  This is a classic example.  Obviously Chrysler will save money on utilities and all with keeping the plants closed a few weeks more after the schedule xmas shutdown, but if the UAW would make some concessions on these windfall salary plans, I think that would go a lot farther in helping the companies keep afloat.

http://news.yahoo.com/s/ap/20081218/ap_on_bi_ge/meltdown_autos

Cheryl
Logged
Cheryl
Moderator
Hall of Fame
*****
Offline Offline

Posts: 5407



WWW
« Reply #6 on: December 22, 2008, 01:21:51 PM »

This IS interesting!

From Jayski:

"Canada adds bailout money to GM & Chrysler: General Motors Corp. and Chrysler LLC will get $4 billion Canadian ($3.3 billion U.S. dollars) in government loans from Canada and the province of Ontario. General Motors' Canadian unit will receive C$3 billion while Chrysler is set to get C$1 billion. Borrowers must accept limits on executive compensation and also report "material transactions in excess of C$125 million or more," the U.S. and Canadian governments said in a joint statement. Canada's aid builds on the $13.4 billion in U.S. emergency loans announced by President George W. Bush. Canadian Industry Minister Tony Clement on Dec. 12 pledged to offer GM, Chrysler and Ford Motor Co.'s Canadian units federal and provincial aid "proportional" to the their contribution to North American production, which is about 20 percent.(Bloomberg News)(12-21-2008)"

Cheryl
Logged
Pages: [1]   Go Up
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.21 | SMF © 2015, Simple Machines Valid XHTML 1.0! Valid CSS!