Gm loses almost 31B, HOW and WHY?

[GNVYUS 1]

I feel they should've gone Chapter 11 and then started over with tax payer money. It's probably going to happen anyways but instead they got to burn through our billions first to find this out. :frown:

American overseas plants are doing better, there's something there to look into.

Saying the higher ups are getting too much $$ isn't a cause when you're losing BILLIONS a month. Wagoner isn't making billions a year, his policy decisions are one thing but the higher ups measly millions in salary a year isn't causing the plummet.

Trying to push universal health care in the US to save corporations is going to be a huge disaster. Which country see's more immigrants and illegals taxing their system each year??, You guys must not know any doctors or pharmacists, it's a joke and getting worse. Fix those aspects and watch a good % of our health care system recover.

I wouldn't use Canada as a medical example since all my Canadian friends come here to do any major medical operations.

 

[Rivical]

Well guys...I shudder to think what's coming down the pike for GM worker's if that company's salvagable at all. Those are some staggering numbers above. I wasn't even aware of all of them.

After thoroughly rewiewing the 40pages of what FORD employee's are giving up I'm somewhat speechless. Whatever spin they put on it in the media it's just, well, it's a recognition of how truly bad it is today. When even the issue of seniority is abridged, it's bad. The very basic right afforded employee's as a benefit of bargaining is now a regional issue, no longer secured in a specific facility. It would be a less bitter pill if base wages instead of everything else were gone, abridged or otherwise changed entirely. I can only imagine what will be in store for the other two mfg's once the token ratification of this goes thru FORD's local's.

 

[klrv6]

I work for one automaker and invest in the other They all have troubles right now. I feel bad for some of the board members that work at the "Plant that will never close" in Kentucky.

 

[TT/Ameasap]

You guys crack me up. The unions are not but part of this GM meltdown.

You apply for a job at X amount of dollars and then turn around and say " I can't pay my house payment with this kinda pay"

That would be GM management and union workers analogy.


Fact is......GM is a crappy automobile company. They do horrible business practice and complain and point fingers at other people.

Let them sink!

 

[rtviper]

TT you can say all you want about GM's company but I will repeat they sell as many cars as Toyota and more then all the rest but still lose money. what does GM have that the others do not? $75 billion dollar retirement obligation. That is about $3500. more per car.
As for crappy company I dont see a lot of models the other companies make that I find more desirable.
Performance wise the domestic brands have many fast cars.
There is a reason Toyota and others do not run union companies.

 

[Rivical]

maroons

I guess Toyota just asked Japan for a bailout aft losing money for the first time in 59yrs! Guess they'd be OK if they didn't have expensive labor and crappy product, huh?

Bloomberg.com: Worldwide

You can try repeatin that retired employee's account for such a ridiculous amount all ya want but it aint flyin here. I know better. Besides, these things are all funded differently and the investments that feed these funds are accounted seperately etc... Look how FORD had such MASSIVE profit sharing checks in the late 90's. Then they spun Visteon off, while maintaining complete control of it. Suddenly the money wasn't just in another pocket, it was as if in another pair of pants! And the check quit flowing. They indeed have screwed tehmselves. But not how you think. They've done it by buying into the whole business model of current practice. NOBODY is benefitting from globalization, just gonna crash the whole world now instead of regional imbalances!

 

[TT/Ameasap]

Your missing the point. They made bad decisions with not only the union, but a company as a whole. I could go on about their quality,target marketing,advertisments,projected outlook, ect. But that is my opinion. All in all, they failed and have no business in business. I shouldnt have to pay for your mortgage either.

 

[88 CuttyClassic]

darkcyde wore dresses as a small boy. let me know how great that prius is when you get slammed by a soccer mom on her phone in a yukon..

 

[rtviper]

Did they make bad decisions with the unions years ago? I don't know if they were bad decisions just had no idea what would happen to health costs many years later. I would have thought this nation as mighty as it is would have controlled the runaway health costs.
Using that analogy about making poor decisions based on the future, we all fall into that group. I owned a 62 260 cube cobra and FI vettes back in the 60's and 70's. I laughed at the exaggerated costs of Gull Wing Mercedes cars at 20k in the 70's. I never thought the prices would change that much. Many of us made poor decisions 30 and 20 years ago

 

[rtviper]

Many rant about GM's poor management and goals etc etc. I am not here to defend them just to repeat once again they are selling as many or more then all the other companies who are making all the right decisions? What isn't right about this?
I have owned most models and makes over the last 45 years of driving and have had issues with all of them and good luck with all makes.
When I ask import drivers why did you buy that car they respond I read where it is the best. I heard from my friends or my son told me to get it. Many of them are just transportation and style and design had little to do with the choice.
I repeat very few of the imports offer me anything that isn't available in domestics except for the obvious ones like Ferrari, Lambo and other exotics. Conspicuous Consumption is available in non-domestic models but few offer any more performance then the best domestics will. The z06 or ZR1 aren't exotic but will outperform most of them costing much much more.