97svtgoin05gt Posted April 7, 2010 Share Posted April 7, 2010 (edited) So GM is out of bankrupcy 6 months and they hand us a nice $4.3 billion loss. In addition GM needs $12.3 billion to fund its pension requirements. I for one do not want to spend any more money on GM. If its not a viable business that can survive on its own, shut it down. I know the economic repercussions would be wide spread and effect lots of stuff but I've said it before. I just don't think there's a single guy there that knows what to do. Their products are STILL ugly, STILL nont selling and there seems to be no one who can (like Mulally) pull their sorry asses out of this funk. How much money should we pour into this mess before we cut bait?? Pensions should be stopped immediately. People who are currently retired, okay we can't do anything about that but those still working should be told they now have a 401K plan like every other business in our sorry ass country and that they will be paying for their healthcare like everyone else as well. The business cannot support these pensions and benefits. Its no longer working in government either. The entire idea is outdated and no longer makes economic sense. Costs went out of control like 10 years ago and here they are still trying to supply pensions and benefits for their workers. LET IT GO ALREADY!! http://finance.yahoo.com/tech-ticker/this-is-progress-gm-loses-4.3b-needs-12.3b-to-fund-its-pension-462788.html?tickers=gm,f,tm,hmc,%5Edji,%5Egspc,TBT&sec=topStories&pos=9&asset=&ccode= Edited April 7, 2010 by 97svtgoin05gt 1 Quote Link to comment Share on other sites More sharing options...
jpd80 Posted April 7, 2010 Share Posted April 7, 2010 Rescuing GM was all about protecting roughly 3 million people in businesses and communities that would have been devastated by the uncontrolled collapse of GM in the middle of the financial nightmare that was 2008/2009. Nothing at GM has changed, Whitacre is not from the industry and is asking GM execs to make decisions, the same people who flew GM into this mess. The best thing the government can do is cut its losses at the IPO and walk away. what ever happens to GM after that is not their fault, let the market decide that.... 1 Quote Link to comment Share on other sites More sharing options...
8A4RE Posted April 7, 2010 Share Posted April 7, 2010 So GM is out of bankrupcy 6 months and they hand us a nice $4.3 billion loss. In addition GM needs $12.3 billion to fund its pension requirements. I for one do not want to spend any more money on GM. If its not a viable business that can survive on its own, shut it down. I know the economic repercussions would be wide spread and effect lots of stuff but I've said it before. I just don't think there's a single guy there that knows what to do. Their products are STILL ugly, STILL nont selling and there seems to be no one who can (like Mulally) pull their sorry asses out of this funk. How much money should we pour into this mess before we cut bait?? Pensions should be stopped immediately. People who are currently retired, okay we can't do anything about that but those still working should be told they now have a 401K plan like every other business in our sorry ass country and that they will be paying for their healthcare like everyone else as well. The business cannot support these pensions and benefits. Its no longer working in government either. The entire idea is outdated and no longer makes economic sense. Costs went out of control like 10 years ago and here they are still trying to supply pensions and benefits for their workers. LET IT GO ALREADY!! http://finance.yahoo.com/tech-ticker/this-is-progress-gm-loses-4.3b-needs-12.3b-to-fund-its-pension-462788.html?tickers=gm,f,tm,hmc,%5Edji,%5Egspc,TBT&sec=topStories&pos=9&asset=&ccode= The government has a good reason for bailing out GM and it has more to do with defense contracts than cars. GM must survive. Quote Link to comment Share on other sites More sharing options...
jpd80 Posted April 7, 2010 Share Posted April 7, 2010 (edited) It seems that GM is now closer to Ford in financial terms, something that was done without effecting real and permanent change within GM. And then you have the continuing problem of their substandard products and of course, that management team... Edited April 7, 2010 by jpd80 1 Quote Link to comment Share on other sites More sharing options...
Deanh Posted April 7, 2010 Share Posted April 7, 2010 It seems that GM is now closer to Ford in financial terms, something that was done without effecting real and permanent change within GM. And then you have the continuing problem of their substandard products and of course, that management team... J, you just got my vote....theres the crux right there....substandard product and management.....but that will all be a thing of the past when the Volt arrives Quote Link to comment Share on other sites More sharing options...
jpd80 Posted April 8, 2010 Share Posted April 8, 2010 J, you just got my vote....theres the crux right there....substandard product and management.....but that will all be a thing of the past when the Volt arrives Ah, the Volt. A $40,000 long range C car hybrid made palatable by a government subsidy. Quote Link to comment Share on other sites More sharing options...
Paul Selby Posted April 8, 2010 Share Posted April 8, 2010 GM is like a modern day WPA project from the depression era. Seriously though, I believe GM will turn this around. Quote Link to comment Share on other sites More sharing options...
RichardJensen Posted April 8, 2010 Share Posted April 8, 2010 GM is like a modern day WPA project from the depression era. Seriously though, I believe GM will turn this around. If only there was a river that needed to be dammed somewhere. Quote Link to comment Share on other sites More sharing options...
jpd80 Posted April 8, 2010 Share Posted April 8, 2010 If only there was a river that needed to be dammed somewhere. I'm sure their products would fail as land fill... Quote Link to comment Share on other sites More sharing options...
aneekr Posted April 8, 2010 Share Posted April 8, 2010 GM is like a modern day WPA project from the depression era. GM certainly could revive the critic's description of WPA: Whistle, Piss, and Argue Quote Link to comment Share on other sites More sharing options...
NickF1011 Posted April 8, 2010 Share Posted April 8, 2010 The government has a good reason for bailing out GM and it has more to do with defense contracts than cars. GM must survive. Defense contracts? What the heck does GM provide for the military besides a bunch of trucks that someone else could just as easily provide? They don't build the HMMWV (which is being phased out anyway) if that's what you are thinking. Quote Link to comment Share on other sites More sharing options...
8A4RE Posted April 8, 2010 Share Posted April 8, 2010 Defense contracts? What the heck does GM provide for the military besides a bunch of trucks that someone else could just as easily provide? They don't build the HMMWV (which is being phased out anyway) if that's what you are thinking. As I understand it, GM won't be going anywhere anytime soon. I probably said to much already. Their is a black Crown Vic sitting at the end of my street now Quote Link to comment Share on other sites More sharing options...
NickF1011 Posted April 8, 2010 Share Posted April 8, 2010 As I understand it, GM won't be going anywhere anytime soon. That still doesn't mean that GM is any bit of a major supplier of bespoke military equipment. Quote Link to comment Share on other sites More sharing options...
Ford Jellymoulds Posted April 8, 2010 Share Posted April 8, 2010 Chevy cars in Europe all look sick they can't give them away here for next to nothing, Cruze is a gutless maybe thats why they made it a unpractical 2 seater no headroom in the back because it won't pull 5 passengers up a hill without changing down to third gear the engines are gutless useless junk compared Fords pocket rocket Ecoboost, Spark does not light my fire, Opel/Vauxhall will continue to lose billions for GM in Europe. US Taxpayer, GM China & the Classic Silverado Pick-Up GM's life support machines are all thats keeping them alive. Quote Link to comment Share on other sites More sharing options...
NickF1011 Posted April 8, 2010 Share Posted April 8, 2010 Classic Quote Link to comment Share on other sites More sharing options...
jtstakelin Posted April 9, 2010 Share Posted April 9, 2010 When GM and or fiatsler fails, I'll do one wheel peel burnouts on their graves. FORD FTW Quote Link to comment Share on other sites More sharing options...
Mark B. Morrow Posted April 9, 2010 Share Posted April 9, 2010 As I understand it, GM won't be going anywhere anytime soon. I probably said to much already. Their is a black Crown Vic sitting at the end of my street now If it's an older model that's probably just Matt/P71. Quote Link to comment Share on other sites More sharing options...
8A4RE Posted April 9, 2010 Share Posted April 9, 2010 That still doesn't mean that GM is any bit of a major supplier of bespoke military equipment. Nick, just think about what car plants are used for in a time of war. Quote Link to comment Share on other sites More sharing options...
NickF1011 Posted April 9, 2010 Share Posted April 9, 2010 Nick, just think about what car plants are used for in a time of war. Okay....and? There will still be plenty of assembly plants here, regardless of whether or not GM is the company running them. Quote Link to comment Share on other sites More sharing options...
blazerdude20 Posted April 9, 2010 Share Posted April 9, 2010 Okay....and? There will still be plenty of assembly plants here, regardless of whether or not GM is the company running them. exactly, the would be "old gm" plants would be bought up by the likes of hyundai/kia, the chinesse companies and maybe an upstart or two. the plants they have already shut down, some have already been sold, like the Delaware plant used to build the sky. doesnt the modern military contract out jobs to companies building the army vehicles anyway? im sure those places have factories. Quote Link to comment Share on other sites More sharing options...
NickF1011 Posted April 9, 2010 Share Posted April 9, 2010 doesnt the modern military contract out jobs to companies building the army vehicles anyway? im sure those places have factories. They do, and they would be adequate unless we were thrust into another world war, in which case excess production capacity would undoubtedly be needed. If that were the case though, the U.S. government would have no reservations about converting certain plants in Georgetown, KY and Marysville, OH to produce military equipment right along with those owned and operated by Ford and GM. Quote Link to comment Share on other sites More sharing options...
blazerdude20 Posted April 9, 2010 Share Posted April 9, 2010 (edited) They do, and they would be adequate unless we were thrust into another world war, in which case excess production capacity would undoubtedly be needed. If that were the case though, the U.S. government would have no reservations about converting certain plants in Georgetown, KY and Marysville, OH to produce military equipment right along with those owned and operated by Ford and GM. you gotta wonder what would happen if we got into war with japan or germany again. it would be a matter of national security to take over their plants but im sure most folks would be like "no they paid for them fair and square." ok maybe not but in PC america its hard to tell.. im sure toyota would sell a Mississippi plant to the us gov. Edited April 9, 2010 by blazerdude20 Quote Link to comment Share on other sites More sharing options...
NickF1011 Posted April 9, 2010 Share Posted April 9, 2010 you gotta wonder what would happen if we got into war with japan or germany again. it would be a matter of national security to take over their plants but im sure most folks would be like "no they paid for them fair and square." ok maybe not but in PC america its hard to tell.. im sure toyota would sell a Mississippi plant to the us gov. Well, Germany didn't encounter much opposition when taking over Ford of Europe plants to produce goods for them during WW2. Quote Link to comment Share on other sites More sharing options...
fordmantpw Posted April 9, 2010 Share Posted April 9, 2010 exactly, the would be "old gm" plants would be bought up by the likes of hyundai/kia, the chinesse companies and maybe an upstart or two. So they just take 'em over. Seriously, if it gets that bad, and in a war situation, the factories will be used for whatever the hell the govt wants to use them for. Quote Link to comment Share on other sites More sharing options...
jpd80 Posted April 10, 2010 Share Posted April 10, 2010 you gotta wonder what would happen if we got into war with japan or germany again. Highly unlikely, the build up to war happened for about 10 years. I think America will be sick of carrying GM and Chrysler by then.... Quote Link to comment Share on other sites More sharing options...
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