Bye bye, GM

[soda72]

http://news.bbc.co.uk/2/hi/business/8077255.stm

Not a complete surprise, but they filed for bankruptcy protection today...

 

[antivortex]

GM will survive, just say buh bye to the unions and all their 'legacy' costs... buh byeeee!

[WilldCrd]

GM will survive, just say buh bye to the unions and all their 'legacy' costs... buh byeeee!

heh hardly! The UAW is way way to strong for that. GM will emerge smaller, more streamlined and hopefully stronger. The union isnt going anywhere for better or worse depending on which side your on

you can say good bye (forever) of the trans am  I had held out hopes that they would bring it back one day.

[Shuffler]

Only a total idiot would invest in a company failing for so long...... OOPS.   

[alskahawk]

 CEOs making 200 million a year, mulitple multimillion dollar jets. Incentives the average working stiff can't imagine. Corporate America has forgotten their main focus isn't perks its profit.

 Compare the American business attitude to Honda(?) CEO 1 million a year. When work slowed down they had their employees go out in the comunity to do charity.

 American corporations are bloated in their excesses.

[68Wooley]

The demise of the US car industry is scarily similar to the demise of the UK car industry in the 70's and early 80's, albeit on a much larger scale:

• Realization too late that rubbish products won't cut it.
• Unions with their heads in fantasy land
• Incompetent upper management.

I don't think all of GM will disappear, but its going to be a very different company when this has all shaken out.

[Shuffler]

CEOs making 200 million a year, mulitple multimillion dollar jets. Incentives the average working stiff can't imagine. Corporate America has forgotten their main focus isn't perks its profit.

 Compare the American business attitude to Honda(?) CEO 1 million a year. When work slowed down they had their employees go out in the comunity to do charity.

 American corporations are bloated in their excesses.

Not all American corporations are the same. There are many who have intelligent folks running them and are very successful. You just see the poorly run corps in the so-called news.

[alskahawk]

See Rule #14

[Lye-El]

From what I have read GM China is doing fine. Soon you will be able to buy a GM product imported from China at a Wal Mart Super Center.

[Raptor]

Ford will remain, although Ford does not produce great cars, they are putting more resources into it and have remained a smart company. They own many great car brands and would not be a surprise if they purchase some of the brands GM is doing away with. I hope someone saves Pontiac...

[soda72]

I have new respect for Ford.  Their management team must have made some decent decisions to keep it going through these difficult financial times. 

[RedDg]

I have new respect for Ford.  Their management team must have made some decent decisions to keep it going through these difficult financial times. 

$30 Billion in government loans didn't hurt either.  But yeah, I wish I had invested in some Ford stock back when it was just over $1 a share.

[sluggish]

From what I have read GM China is doing fine. Soon you will be able to buy a GM product imported from China at a Wal Mart Super Center.

Thank you for adding to my signature.

[antivortex]

From what I have read GM China is doing fine. Soon you will be able to buy a GM product imported from China at a Wal Mart Super Center.

WRONG! Read up a little, GM under new management is not going to be allowed to import any of those great fuel efficient cars they make overseas. They will be forced to create and sell them here and before its all over we the tax payer will pump $100 billion into it, we've already poured $30 billion down the drain.

[Spikes]

I think he was being sarcastic...