This just makes me sick to my stomach.>>> http://www.dailytech.com/Report+GM+to+Ask+for+More+Cash+or+File+for+Bankruptcy/article14270.htm
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The Staff of SOH
What do you guys think of this ?
- Thread starter hey_moe
- Start date
Hey,
As the President stated, they have made some big time mistakes.
As being on the other end of the market, seeing them choose designs from their design teams (and their designs seemed archaic and not up with the rest of the crowd), and yanking the electric cars from the streets and crushing them stated they werent really into making cars for the people but rather just to be in business.
Toyota, on the other hand, cant sell enough cars and need to build another factory to keep up with hybrid electric car sales. They build plants in America instead of China or Korea, thus employing Americans and keeping familes here fed.
Go figure.
EDIT: By the way. Note that one of their hottest car company brands was Saturn. They couldnt keep up with sales when they first started. Awesome cars... Look what they have done to them... See now how they think it should be ditched!!!! lol... incredible. It has so much potential. I would make that brand all hybrid or electric, convert it to a experimental green-car only production line. I would make it revolutionary.. But they would drop it like a hot potatoe... Who runs them anyways?
(Love some of their new cars, especially in Pontiac division, like that little mini-Viper thing).
As the President stated, they have made some big time mistakes.
As being on the other end of the market, seeing them choose designs from their design teams (and their designs seemed archaic and not up with the rest of the crowd), and yanking the electric cars from the streets and crushing them stated they werent really into making cars for the people but rather just to be in business.
Toyota, on the other hand, cant sell enough cars and need to build another factory to keep up with hybrid electric car sales. They build plants in America instead of China or Korea, thus employing Americans and keeping familes here fed.
Go figure.
EDIT: By the way. Note that one of their hottest car company brands was Saturn. They couldnt keep up with sales when they first started. Awesome cars... Look what they have done to them... See now how they think it should be ditched!!!! lol... incredible. It has so much potential. I would make that brand all hybrid or electric, convert it to a experimental green-car only production line. I would make it revolutionary.. But they would drop it like a hot potatoe... Who runs them anyways?
(Love some of their new cars, especially in Pontiac division, like that little mini-Viper thing).
Navy Chief
Senior Member
Oh this was predicted. Hey, why not give it to them? All the govt. has to do is print more worthless money.
These are not good times, folks. Were it not for flight simulation, I'd have lost it.
NC
These are not good times, folks. Were it not for flight simulation, I'd have lost it.
NC
cheezyflier
Charter Member
i called the psychic hotline and my personal psychic told me that 99% of the people who respond to this thread will say they think gm should be allowed to fail.
1% or less will post a bunch of reasons why they disagree, claiming they understand the market better than the rest of the people who posted.
(actually, i never consulted a psychic and the above predictions are entirely my own. furthermore, it is my opinion that anyone who couldn't see this scenario coming from the beginning needs a seeing eye dog and a cane.)
1% or less will post a bunch of reasons why they disagree, claiming they understand the market better than the rest of the people who posted.
(actually, i never consulted a psychic and the above predictions are entirely my own. furthermore, it is my opinion that anyone who couldn't see this scenario coming from the beginning needs a seeing eye dog and a cane.)
GT182
Charter Member
What the 
! :faint:. Let em all file for bankruptcy protection. That's what they should have done in the first place. Our government shouldn't have given them one red cent in the first place. If a little buisness was in the same predicament, that's what they'd have had to do. The Big 3 are no different..... just bigger and greedier. Asking again for money is proof of that.
Imagine the party they'll have if they get more money.
! :faint:. Let em all file for bankruptcy protection. That's what they should have done in the first place. Our government shouldn't have given them one red cent in the first place. If a little buisness was in the same predicament, that's what they'd have had to do. The Big 3 are no different..... just bigger and greedier. Asking again for money is proof of that.Imagine the party they'll have if they get more money.
Toastmaker
Charter Member 2016
Absolutely they should file for bankruptcy. Getting out from under the backbreaking union contracts will be only one of the many positive benefits for a newly restructured GM.
And if they can't do that - let them die a natural death. Survival of the fitest has a been a natural law well before mankind started stumbling around the planet. . .
And if they can't do that - let them die a natural death. Survival of the fitest has a been a natural law well before mankind started stumbling around the planet. . .
Snuffy
Happiness Consultant
Ummm No! They didn't let anyone go .. the union forbade it.
I'm with Toasty ... get rid of the friggin unions first ... then perhaps when you start paying an assembly line guy what he's worth, the cost of cars and trucks might come down, and the company might start making money.
Of course that money needs to be backed up by real hard cash and not the worthless stuff the "reserve" is throwing out since there is nothing in reserve to back up the reserve.
I'm with Toasty ... get rid of the friggin unions first ... then perhaps when you start paying an assembly line guy what he's worth, the cost of cars and trucks might come down, and the company might start making money.
Of course that money needs to be backed up by real hard cash and not the worthless stuff the "reserve" is throwing out since there is nothing in reserve to back up the reserve.
Cratermaker
Charter Member
Message received by everyone: spend however you want, the government will bail you out. Have fun with taxpayer's (and their children and their grandchildren and their great grandchildren...) money! :woot:
paiken
SOH-CM-2023
Let's stop bashing the unions and put the blame exactly where it belongs; with the upper level management. They pay themselves extremely unrealistic salaries, expect bonuses and "golden parachutes" that they don't deserve. Compare their pay with those of their German and Japanese counterparts and you will see where most of the money is wasted. Granted, the union got greedy too, but they had the shining example from such "geniuses" as Lee Iacoca. Let's face it, GM, Ford and Chrysler are being killed by their own greed. Health care costs are the remainder of the problem. It's time we caught up with the rest of the world to provide universal healthcare for all citizens. In the interest of fairness, I actually belong to a union (National Association of Letter Carriers), and even though I don't agree with many of the issues my union supports, I willingly pay my dues (not to "the mafia" Lionheart) because without it, you & I would not be living the "American Dream" that unions made possible. Research your American History.
Snuffy
Happiness Consultant
Welcome to the site Paiken, and not bad for a first post ...
Lets blame both the unions and the upper management. Just because I flame the unions doesn't mean I don't hold the jerks in upper management just as responsible.
If they had the kajones worth their salaries, they should have ironed this union thing off a long time ago. But No, they like it as much as the unions especially when the union has a hand in their pockets.
Lets blame both the unions and the upper management. Just because I flame the unions doesn't mean I don't hold the jerks in upper management just as responsible.
If they had the kajones worth their salaries, they should have ironed this union thing off a long time ago. But No, they like it as much as the unions especially when the union has a hand in their pockets.
Crusader
SOH-CM-2022
Just think ladies and gents . The Wallstreet bankers and especially the CEO's are really crying in their marttini glasses now since they may have their bonus money significantly reduced if they take any additional money now .. As far as I am concerned they stole the tax payers money on the first bailout and should face criminal charges . Rotten bast--ds . Sorry but all of this has really gotten me pissed. How have we let all the automaker management and Wallstreet CEO's get away with this over the years . All of this is a bunch of :bs:. Well , off to the liguor cabinet . (Hay , I had to have some excuse)
Rich:angryfir:
Message to the Automaker Execs and Wallstreet bankers:
"Read my middle finger", Hay , I feel better now (Especially after a couple shots of Jack)
Rich:angryfir:
Message to the Automaker Execs and Wallstreet bankers:
"Read my middle finger", Hay , I feel better now (Especially after a couple shots of Jack)
Crusader
SOH-CM-2022
I totally agree with you on this one Toasty . My Dad(God rest his soul--passed away in Jan2007) got back from the Pacific in 1945 after serving on Guam and Iwo Jima with the 3rd Mar Div . Went to work as a Machinist with Jeffrey Mining and Machinery in Columbus , Ohio and retired after 45 years and was lifetime member of the Machinists Union(AFL-CIO). He has told me several times over the years how unions really meant something when he first joined but their real purpose has really declined now a days .
Rich(A past member of the Teamsters and AFL-CIO member years ago so don't get me wrong , I'm not union bashing . Bring on Toyota , Honda and anyone else that wants to build plants in America . The layed off union workers can swallow their pride and work for these companies . They could use their skill an expertise)
CrashnBurns
Members +
Well, just so ya know ... my benefits have been cut, what I still have now costs a lot more and we are laying off 3400 white collar employees this spring. IF I survive that, everyone that's left gets a pay cut.
I guess I can just use that Golden Parachute thing you all talk about when and if I get to retire. Oh wait ... I don't get any retirement, we don't have that anymore either.
Crash
I guess I can just use that Golden Parachute thing you all talk about when and if I get to retire. Oh wait ... I don't get any retirement, we don't have that anymore either.
Crash
Did you guys happen to catch what these bank CEO's said about the billions that were also given to them to help the economy out. I cracked up on that one too. Last week they had to explain to congress about there cheap salary. None were being paid under a million and they all forfeited there bonus's. What they failed to bring up was the loop hole that was left. Nothing was said about there new stock opinion and other nice benefits there were changed to make up there bonus that they gave up. Congress also wanted to know why they weren't lending out the billions that the taxpayers had forfeited. None of them has an answer for that. With the Big three doing what they are doing and the banks putting the other icing on the pie in our eye no wonder we are going down the crapper.:caked: