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GM plan: sell company to government

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carpro

carpro

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This may not be the plan that is selected in the end.

If it is, and I think it will be, I will never buy another GM built car as long as I live.
 
O

OldRegular

Well-Known Member
carpro said:
This may not be the plan that is selected in the end.

If it is, and I think it will be, I will never buy another GM built car as long as I live.
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Neither will I and I have a GM credit card. Of Course at my age I may never buy another car.
 
J

Jkdbuck76

Well-Known Member
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My wife bought a brand new Impala back in '03.

It is the WORST car we have evar owned.

Not even 100,000 miles and it has caused us more pain and misery than should be legal.

The best car I've owned.....a 2003 Toyota Corrolla. I have 205,000 miles on it. No problems.


Death to GM!
 
R

Robert Snow

New Member
Jkdbuck76 said:
My wife bought a brand new Impala back in '03.

It is the WORST car we have evar owned.

Not even 100,000 miles and it has caused us more pain and misery than should be legal.

The best car I've owned.....a 2003 Toyota Corrolla. I have 205,000 miles on it. No problems.


Death to GM!
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One story doesn't represent all the vehicles GM has made, does it? I traded in a 2003 Malibu last year for a 2008 Ford Ranger pickup. Although I love my truck, the Malibu was one of the best cars I have ever owned. It had over 100,000 miles on it, had been through a very bad wreck; yet the only thing I ever did was change the oil and air filter. I also may have purchased a set of tires, but I don't remember.

I, for one, believe the U.S. needs a strong auto industry. I'm not particularly thrilled about the government owning GM, but it may not turn out as bad as some here believe.
 
carpro

carpro

Well-Known Member
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I've owned many GM cars. Most of them gave excellent service.

Own one now.

Never again.
 
R

rbell

Active Member
Robert Snow said:
One story doesn't represent all the vehicles GM has made, does it? I traded in a 2003 Malibu last year for a 2008 Ford Ranger pickup. Although I love my truck, the Malibu was one of the best cars I have ever owned. It had over 100,000 miles on it, had been through a very bad wreck; yet the only thing I ever did was change the oil and air filter. I also may have purchased a set of tires, but I don't remember.

I, for one, believe the U.S. needs a strong auto industry. I'm not particularly thrilled about the government owning GM, but it may not turn out as bad as some here believe.
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Malibu was one of the best models they had in the last decade. But GM, for three or so decades now...
  • Has built (or had built) absolute junk for small cars: Chevette. Citation. Sprint. Aveo. Cavalier. Et cetera.
  • Because of costs, they can't make a Honda or Toyota-quality car at Honda or Toyota-quality prices.
  • Has always been 2-3 years behind the curve on innovation.
  • Just simply overall aren't as good, don't last as long, and aren't worth as much as competitive brands. Their motto should be, "hey...at least we're not Chrysler."
Sad thing is...GM gave me my first "real" paychecks. My dad worked for them for 40+years. He's sick about all this. It's bad enough to see the company in the toilet. It's even worse to see it as a pawn in an attempt to make fascism our state religion.
 
R

Robert Snow

New Member
rbell said:
[/LIST]Sad thing is...GM gave me my first "real" paychecks. My dad worked for them for 40+years. He's sick about all this. It's bad enough to see the company in the toilet. It's even worse to see it as a pawn in an attempt to make fascism our state religion.
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Hyperbole at its best!
 
carpro

carpro

Well-Known Member
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Robert Snow said:
If you choose to give all your money to Japan or Europe, please change your avatar.
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Get a grip.:laugh:

Toyotos are built in the United States by Americans. So are Hondas and Nissans.

Then there's also Ford. The government owns no part of them...yet.

You just bumped your noggin and got knocked off your hobby horse.
 
R

rbell

Active Member
The pitfalls of having a nationized auto maker? Read...

From the article: http://article.nationalreview.com/?q=MmI5MzdkOTQ5YmQzZDczZjdhMjU5N2EyNGE2NDQyMmE=

Consider that for a moment. The government and the current administration’s political fellow-travelers own 89 percent of an American company. This is a terrible precedent. Just ask the domestic British auto industry. Unfortunately, it won’t answer, because most of it went out of business when the British government tried the same tactic in the 1970s. The government attempted to save a dying domestic industry by nationalization and heavy investment in R&D to produce a “product-led” recovery. That recovery never emerged, because the unions put saving jobs before producing good vehicles (as I detail elsewhere). With the UAW now owning 38 percent of the company, should we expect anything different from GM?
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Priceless.
 
R

rbell

Active Member
The sticking point: GM (actually, the gov't) has been trying to shaft the bondholders. In normal bankruptcy/reorganizations, secured creditors are ahead of the unsecured ones in line. However, (and not surprisingly), Obama's more interested in rewarding his UAW bedfellows than following the proper method. Therefore, GM's bankruptcy has become even more of a mess than originally expected.

http://finance.yahoo.com/news/GM-makes-new-bondholder-offer-rb-15370745.html?.v=8

from the article:

The U.S. Treasury would own 72.5 percent of the new GM coming out of a bankruptcy sale process while a trust affiliated with the United Auto Workers union would own 17.5 percent, GM said in a filing with securities regulators.
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OK, so...now the government is starting to own our major industries. And then, we'll give one sixth of the company to the primary entity that put it in the toilet.

Brilliant. :rolleyes:

And no...that's not "hyperbole." That's facts.
 
M

Magnetic Poles

New Member
As I have said before, to blame the workers on the assembly line is overly simplistic. They didn't make the decision on which cars to make. They didn't decide to cheapen the construction. They didn't fail to respond to the marketplace filling up with higher-quality foreign automobiles. Those are management decisions. To lay all the blame on the worker bees belies the facts.

Don't forget, the companies' management did not have to agree to the labor contracts. There are at least two parties in every agreement.
 
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P

Pastor Larry

<b>Moderator</b>
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Don't forget, the companies' management did not have to agree to the labor contracts. There are at least two parties in every agreement.
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Actually, they did given union laws in most states. Companies either have to settle with the union or shut down business. They don't have the option of hiring replacement workers. It gives the union way too much power.
 
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