| Author | Message | ||
     Court |
Looks like that may be the catch phrase of 2015. I see this morning the accountants have raised the "going concern" question. This will be interesting. The feds are doing such a swell job of saving them while the AFL-CIO folks, who arrived via private jet, are lounging at their conference at the LaFontaine Resort. General Motors sales rose slightly in January as the feds stepped in and plummeted 53% last month. If the feds show up to help me . . . I'm running. | ||
| Bill0351 |
Toyota and Ford fell nearly as much. | ||
| Rfischer |
The union figures it has the Obama crowd in its back pocket so, "What - me worry?!?" Life and [union] biz as usual. | ||
| Ferris_von_bueller |
CNBC’s Cramer on Obama: 'It’s Amateur Hour at Our Darkest Moment' | ||
| Darthane |
I'm at ground zero for it (I work for Delphi - working on our thirtieth month in Ch11 - though I'm involved in our Ford business). ...not exactly the most encouraging times to be in the automotive industry - and I make no differentiation between domestic and foreign manufacturers with that statement. It frustrates the hell out of me to see all of the completely ignorant and inaccurate things people spout off about GM/Ford/Chrysler versus the liberal poster children Toyota/Honda. Those 'hearings' on Capital Hill brought back a scene from Mars Attacks, with the old lady cackling with glee and shouting, "They blew up Congress!" | ||
| Swordsman |
I'll be cackling when the new Camaro bites the bullet. Just because of all the years of hype and teasing, to see it all boil down to hot air is irony of the first degree. I just can't imagine a world without GM though. That's like having to relearn a map of the US after California sinks into the ocean.  ~SM | ||
| Greenlantern |
That's like having to relearn a map of the US after California sinks into the ocean. Just remember OTISBURG!   | ||
| Froggy |
I can't find the pic anymore, I saw a US map, and above it, it said "How a earthquake could benefit the United States". Of course California was missing  Swordsman, the hype was caused by the fans, not by GM. GM eventually caved in and helped it along towards the end, but stop being jealous that nobody cares about the Mustang anymore 
Sales of what? They were down all together about 50% in January. It was at least a year ago since sales were up. | ||
| 4cammer |
This is sad. But predictable. GM lost its way long ago. | ||
| Court |
I think I misread it. Regardless, the firm appears to be under poor management with no ability to change, the UAW is not moving and the help of the federal government is doing more harm than good. This has reached the point of diminishing returns where the more effort and OUR $$$ that go in, will produce exponentially diminishing returns. I'm glad that's not my pension money there . . you know the feds have an eye on that! Keep an eye on Rahm . . | ||
| Darthane |
Ah, if you do a vehicles-per-sales-day comparison you can show a rise between January and February this year. ...however, 24% more than absolute crap is still smelly. I don't particularly like Wagoner and those guys, but as near as I can tell their primary failure was simply not enacting their plans fast enough. Mulally, on the other hand, pushed very hard and as a result Ford's in a much better position (of course, they're mortgaged to the hilt, but at least they still have operating capital). | ||
| Xl1200r |
I REALLY wanted Washington to bail out GM the first time they asked for it - I had confidence that GM could get their act together and turn things around. I've been proven wrong, and I don't wish to be fooled again. I have been a GM guy since before I was driving, but I've come to terms with the fact that GM will likely not survive this. I will be forced to be a Ford guy after that. However, the main reason I'm so comfortable with this is I think we might start to see some upstarts again. If GM goes under, all of those factories and manufacturing facilities won't just vanish - someone with a better management head on their shoulders will buy some of it, and maybe start up a small niche car company - sort of the Buell of the automotive world. Maybe we will have another Tucker on our hands, but with the Big Three no longer big, nor three, they will be allowed to thrive based on their product, rather than killed off based on their threat. Being that I'm looking at purchasing my first home, I'm seeing a corrilation: A house gets foreclosed on, and in a desperate means to get some quick cash, the home owner starts selling everything - drywall, appliances, plumbing, the works. The place is totally gutted. The the bones are still good. Someone who is better financially situated comes in, buys the place up cheap, puts some smart money and work into it, and ends up with a gorgeous home. Interesting times to be alive... | ||
| Mr_grumpy |
I'd be interested to see which parts of GM are doing ok & which parts are dragging them under. They've been producing some decent vehicles here in Europe for many years, but some of the abortions you poor people have had to suffer were unreal, what was that awful looking pos Pontiac crossover thing? Aztek was it? what a godawful monstrosity. They came unstuck in my opinion by not reading the big writing on the wall & continued to produce Hummers & Escalades & such, rather than developing vehicles that people were going to want. As Darthane said though, it's not just GM in trouble, it's all over & the knock-on effects are like a tidal wave. Virtually all the trucking companies around here have some vehicles running for Gefco, which is Peugeot/Citroen's transport arm. The firm I drive for had 18 drivers on Gefco work full time, in November, it's now down to 12-14 & at least one week a month the plant is shut down & they have to find other work for the drivers & trucks. STG who I work for have over 1200 trucks so it's only a small part of our operation but other, smaller, local companies who have more than half their trucks running in Gefco colours are struggling to survive. The truck drivers restaurant just up the road from the plant has had to let go 2 waitresses..... Snowball effect. There's an old Chinese curse "May you live in interesting times." | ||
| Froggy |
GM has been treading on thin ice for years, the economy is whats killing them. They are doing everything right that they can, everytime they take a step forward, something else comes and knocks them two steps back. The economy pulled the rug out from under them. Grumps, the Aztek concept was great, but the beancounters are what killed it. I would of bought one, but they didn't offer a V8. | ||
| Mr_grumpy |
I looked at an Aztek when I was over a few years back, & honestly looking at the build quality, I'd have been scared to drive one with a V8 in it & I'm a bent 8 addict! | ||
| Fast1075 |
I pretty much gave up on all the auto companies quite some time ago...I am/was a Chevy guy dyed in the wool. We had to abandon using Ford fleet vehicles due to horrendous engine and trans reliability problems..and went to GM last year after years of pleading with the boss...we have had NO powertrain problems with the GM vans.. But there hasn't been a sensible thing built in years...all the numbnuts stunts that have been pulled over the years that kill long term reliability. The whole planned obsolescence "get it past warranty" "they will buy another new one next year" is rediculous. I will drive my old Jeeps until that is no longer a viable option...then I will build my own from scratch unless someone comes up with a suitable replacement. (Message edited by fast1075 on March 05, 2009) | ||
| Madduck |
There is a very simple and free to taxpayer fix for this whole auto mess. change the federal regulatory environment. Tell every auto company that they must build their cars to a standard, EU USA or Ca. Any car built to any of those standards will be legal for sale anywhere in the USA, their choice. Pollution, collision and/or safety features. All of these companies are very large players and they make damn fine cars in each of those environments and I don't believe the difference is worth paying for. Unshackle them from menaingless petty regulaiton and see how they do. | ||
| Thumper74 |
The Aztek/Rendevouz were terrible. - They used the leaky 3.1/3.4 engines. - They used the 4T60E transmission (used in most of GMs v6, FWD cars) which is prone to failure. At one point a few years ago it was hard to even get a core at the junkyard as everyone was buying them to rebuild. - Hub bearings were prone to going bad. - The rear differentials are garbage. They fail and GM doesn't (or didn't at the time) make parts available. There was no way to rebuilt them. They were strictly a remove and replace deal. -A/C condensors were prone to failure. Froggy, i know it seems like I'm being confrontational, but those are hands down one of the most unreliable cars they've made in recent history | ||
| Froggy |
That would be awesome, but will never happen.  Like with the Pontiac G8, you can't get navigation on it because of some stupid regulation regarding screen angles. It wouldn't be cost effective for GM to redo the whole dashboard just for that one thing. No biggie, Garmin has me covered. Thumper, yep you are right. I recently changed both the front bearings on my 02 Monte, they were starting to grind. 125k on them, no complaints. I have been keeping my eye on the other weak points like the head gaskets, so far so good. Hell and its part of the old GM, not the new GM with better build quality and reliability. | ||
| Cityxslicker |
I wont go near new ford... not with 'Microsoft' Inside. I can kill a winbox in a year, I dont need that kind of reliability from a car. I will keep my 25 year old, paid for truck. | ||
| Darthane |
Grumpy - anymore it's pretty much all of it that's dragging them down. Saab is in bankruptcy, Adam Opel appealed to the German government for a bailout, etc, etc. This is NOT a North American thing. All automakers rely on people buying their cars. When they stop buying, things get really tough really fast (particularly in NA where they've got some rather ridiculous organized labor structures and dealer agreements). What will be most interesting, in my opinion, is if GM Europe gets spun off on their own as a condition of the government bailout over there. ...and, well...we'll see if GM even survives as a whole over the next few months, I suppose. The scariest thing about a disorganized bankruptcy or (shudder) liquidation of one of the major automakers will be how far the earthquake spreads. Major players in the supplier base would be hard-pressed to keep their doors open, which in turn will press THEIR suppliers, and on down the chain to the mom and pop's burger joint that relies on the lunch crowds from a local plant or engineering center. But despite their rhetoric, none of that matters to Nazi Pelosi and her Senate counterpart Reid. They're seizing the chance to stick it to the big, evil companies and enforce their will on America. I'm far from a Democrat and I don't care for Obama, but if I could pick just one person as that whom I most despise and want out of our government, it would be HER, not the CinC. | ||
| Bill0351 |
I keep thinking of buying some GM. If it hits $1.00 I will probably go in for at least a few thousand shares. If the company tanks completely (and I doubt it will) then I would only be out a few grand. If GM gets its house in order, the stock could easily go up by a factor of ten in a very short time. If you went long with it, and kept an eye on the corporate dealings, you could do even better. I worry though. I remember when HD was down into the $40.00 range that several regulars here talked about buying in. I took a pass because it didn't feel right and it just dropped into the high $7.00 today. | ||
| Buellinator |
Was it Chairman Mao who said "There is chaos under the heavens, and it is excellent."? Eventually a phoenix will rise from the ashes of this economic meltdown. A lot of people will make a lot of money. Best be ready to ride that wave. | ||
| Ducxl |
I think I misread it. Well get your "cliff notes" in order next time    j/k Now back to the USSA United Socialist States of America. The news is disturbing here in Rhode Island.We're DOMINATED by Democrats It's too bad the UAW isn't more proactive in saving GM | ||
| Court |
From today's Reuter's Market Watch Interesting day . . . as Obama addressed Union leaders assuring them . .
Godo time to be in a union, eh? . . "Hey, where is out plant? It was here yesterday and the government was on the way to help"
I added the RED | ||
| Ducxl |
We simply cannot buy our way out can we. GM will soon join Studebaker and AMC and Hudson,and....who made the "Clipper"? I think the failure of GM and companies like Citi will have devastating cascading effects on the rest of us. I MAKE the widgets that go into GM cars  . I was joking with my "cliff notes" comment...joking | ||
| Xl1200r |
President Barack Obama told AFL-CIO union leaders in a videotaped address that the controversial Employee Free Choice Act will pass, signaling his full backing for legislation that makes union organizing easier What a f***ing retard. Like I said, I want to buy my first home by this summer, but sometimes I wonder, with people like this in charge, if I should wait 3 more years when I can buy a 3,000 sq ft, 5 year old colonial with a pool, 6 acres and a 17 car garage for $6500. | ||
| Ducbsa |
"5 year old colonial with a pool, 6 acres and a 17 car garage for $6500." Now, that's the kind of greed we don't need. You could get by with only 15 car capacity. Maybe 3 phase power to the garage, too? | ||
| Boltrider |
How much did GM pay for Hummer when they bought them? They have got to be kicking themselves for that one. Hummer is dead weight. | ||
| Thumper74 |
A few years ago when gas was cheap and people had jobs, Hummer was doing well. |
