GM bankrutcy today 6/1/2009...what you think?

sablescort

sablescort

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Boy, with GM (makers of Chevy, Pontiac, Cadillac, Saturn, Saab, GMC, Buick, Holden (Australia), Opel (Germany) and Vauxhall (England))..reports are that GM will file for Chapter 11 bankruptcy today. It's a sure harder fall from being the world's biggest car maker to facing the judge at bankrupt court.

I just feel so sad about it even though I'm a die-hard Ford nut myself having owned only 2 GM vehicles, a 1977 Pontiac Grand Prix and a 2001 Isuzu Rodeo (built with a GM-Holden 4 cylinder motor and GM had a HUGE ownership stake on the Isuzu company when my Rodeo was built in November, 2000).

I will always remember "Engine Charile" Wilson, ex President of GM by his quote that was misunderstood:

“What’s good for General Motors is good for the country.”
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Alfred Sloan would be ROLLING in his grave if he heard what's happening to GM today. After all, Sloan set up the system that got GM pretty successful from the 1920's to the early 1970's with his "step-up" system using Chevy as a stepping stone for the customer to work his way up to a Cadillac. It was that successful during these times. It was because each division shared nothing but the basic body platform, but had their own unique engines and trannies for each division. Since the late 1970's, Chevy shared motors with Pontiac, Buick, Caddy and other major parts vice versa. No wonder why GM was losing a LOT of customers to Honda and Toyota.

All I hope is that Chevy, Buick, GMC and Cadillac will get a second chance to live, after all I'd hate to see such a great rivalry between Ford and Chevy grind to a halt if GM was gone.
 
Made in USA, cost too much because American want more money that GM cannot afford to pay the labor.
 
Id say UAW and GM senior management had caused this company to go bankrupt.

UAW had made unreasonable demands to protect their members
Senior Management had made ugly, bad decisions that has impacted GM's future.

Simple as that.

John//
 
and now government owns 60% of GM......
 
Foxrac said:
There's plenty of GM cars are fuel efficient.
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mediocre and ugly. I know they can do it but it's a shame that the management's not looking at big picture. At least Ford's got it right.
 
GM made plenty of bad decision, and built unpopular vehicles. Fuel efficiency is not the only reason, it is also design and quality that is really messed up, for example Aztek, really damn ugly, who wants to have that one?

Also, GM is getting way way way too big, decided to overproduce where they can end up too many vehicles that NO ONE wants to buy.

Finally, this is NOT the first time, and they have NOT learn their mistakes back in 70's. Whats more, these GM executive decided to fly down to Washington DC on PRIVATE JET asking for bailout monies, that is unacceptable. These scumbag fat cats, and UAW leaders just wanted to be greedy and only limit themselves understand one thing.... MONEY, they couldn't understand anything else.

So, hopefully bankrupt will ensure that they will have permanent lessoon learn.

I have said it all along, Bankruptcy is really best option not bail out.
 
And how funny, GM staffs on strikes was like 2 years ago. Isn't it? More they pay and now they're in trouble. haha

tsk tsk
 
Yes, and most will get pay cut by 50%! No more entry level job starting at $28.00 an hour! Now it is 14 dollars an hour to start. That is pretty much decent pay for most manufacturering jobs. Most manufacturing job starting pay tend to be around 8 dollars an hour. So, 14 dollars an hour to start seems to be reasonable to me.

PowerON said:
And how funny, GM staffs on strikes was like 2 years ago. Isn't it? More they pay and now they're in trouble. haha

tsk tsk
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GM will survive, Ive always said this and the best way to ensure it will be to get rid of all the stupid pension, health care plans and unrealistic promises the UAW made them sign years ago. Its been a noose around their necks for years. I was surprised to see them axe Pontiac but really they have only closed it for now and can reopen it in the future.
 
Yes, that is true... In order to survive in capitalism, need to be in line with competitors. If one competitors paid their employees fat compenstation, the other competitor that pays skinny competitor will always win.

My old boss back when I work in machine shop told me, he noticed that the quality of work tend to decrease after a huge pay raise, that is why he is so resist giving fat pay raise. Interesting, it is based on his experience. And from what I see, I think he is right.

Here is the truth, if a company pays employee multiple times more than most competitors and companies, those people that works at most competitors will end up uable to afford the product from competitors with high compenstation(Wage, benefit, etc). That is why GM is slowly dying since 1970, and yes GM and UAW has ignored the reality for too long...

I personal don't give DAMN about GM issues, I lost alot of my money to them from poor mechanical quality that I had on my two GM vehicles. KMA! I am now sticking with Jeep.

deafaussie said:
GM will survive, Ive always said this and the best way to ensure it will be to get rid of all the stupid pension, health care plans and unrealistic promises the UAW made them sign years ago. Its been a noose around their necks for years. I was surprised to see them axe Pontiac but really they have only closed it for now and can reopen it in the future.
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Jiro said:
mediocre and ugly. I know they can do it but it's a shame that the management's not looking at big picture. At least Ford's got it right.
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I'm not talking about design.

Newer Chevy Impala isn't bad since they got 30 mpg.
 
I will stick with Hyundai. Cheap and gets 40 mpg.

Aside from the employees, I am glad to see one of the worst companies go down in history as america really did not need to have heavy, inefficient vehicles rolling around the country while struggling to lower the cost of oil. If we had more civics on the road instead of superlarge cars then we'd be in a better place now. Since that's not the case, we are now without jobs, paying for their greed along with other big companies that fell before GM. I hope they are very proud of themselves.
 
diehardbiker said:
Yes, that is true... In order to survive in capitalism, need to be in line with competitors. If one competitors paid their employees fat compenstation, the other competitor that pays skinny competitor will always win.

My old boss back when I work in machine shop told me, he noticed that the quality of work tend to decrease after a huge pay raise, that is why he is so resist giving fat pay raise. Interesting, it is based on his experience. And from what I see, I think he is right.

Here is the truth, if a company pays employee multiple times more than most competitors and companies, those people that works at most competitors will end up uable to afford the product from competitors with high compenstation(Wage, benefit, etc). That is why GM is slowly dying since 1970, and yes GM and UAW has ignored the reality for too long...

I personal don't give DAMN about GM issues, I lost alot of my money to them from poor mechanical quality that I had on my two GM vehicles. KMA! I am now sticking with Jeep.
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Jeep is very good and easy to repair. I already take transmission and transfer case out from Jeep Wrangle. It's pretty easy and simple. Don't need to take wheels off.

Mostly FWD must take wheels off for remove the transmission.
 
That Chevy Cobalt I rented from Enterprise few years ago gets unimpressive mpg compared to my Honda Civic, it's sad. I guess it's goodbye to GM if they don't get their act up.
 
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