If you read the transcripts from their January earnings report, one could easily draw the conclusion that they will be banktrupt by around October this year if not sooner. They have enough cash in reserve to operate until then while sustaining the level of losses they had last year. I had to laugh when shortly after that meeting, they introduced their new Camaro- a big block 450 hp muscle car at the time when gasoline was $2.60/gal. The corporation is run by a bunch of morons.
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Obamanfreude - 1. taking pleasure from the misfortunes of an Obama supporter as he or she is adversely affected by the policies of their Dear Leader.
I own a Chevy Silverado and it's definately not very fuel efficient. I think that if they want to turn things around, they're going to have to offer a few more hybrids, 4 cylinders, and smaller motors in some of their cars and SUV's. They already offer hybrid in some models but they are expensive and people don't want to shell out the money for them. Also, I hear alot of complaints of GM owners about quality of their products.
But the only realistic way that I can see companies like GM turning around is if the government puts more pressure on foreign market. Our industries just cant compete with their cheap prices and I hope someone in the higher ranks slaps a big tariff on foreign goods before half our economy is destroyed.
I don't buy the part about American workers not being competitive. GM has outsourced jobs left and right overseas, and has lost market share as a result. Meanwhile, Toyota, Honda, Subaru, BMW, Mercedes, and others have been building plants over here, and they are makingthem work and work well. While GM is dying, Toyota is growing at about 10% annually. And Toyota's next plan, which is already in the works, is to begin making their full size pickups in Texas. They will probably have more American-made parts in them than GM vehicles.
Maybe it's not the worker that is the problem, maybe it's the GM execs.
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You may beat the rap, but you won't beat the ride!
Maybe it's not the worker that is the problem, maybe it's the GM execs.
Maybe you are on to something there.
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Obamanfreude - 1. taking pleasure from the misfortunes of an Obama supporter as he or she is adversely affected by the policies of their Dear Leader.
Maybe it's not the worker that is the problem, maybe it's the GM execs.
Maybe you are on to something there.
Of course it's the execs that are the root of the problem , the workers have no say in how a company is run in most cases . I'm amazed that their stockholders haven't revolted and fired the entire upper tier for allowing this to happen . I know i'd be pissed !
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Kevin Haendiges
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While GM is dying, Toyota is growing at about 10% annually. And Toyota's next plan, which is already in the works, is to begin making their full size pickups in Texas. They will probably have more American-made parts in them than GM vehicles.
It is ironic that Toyota is moving production to the US whilst GM is moving production to China. Soon buying "domestic" will mean Toyota and GM will be a "foreign" make.
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ORIGINAL: kevin1
Of course it's the execs that are the root of the problem , the workers have no say in how a company is run in most cases . I'm amazed that their stockholders haven't revolted and fired the entire upper tier for allowing this to happen . I know i'd be pissed !
Shareholder apathy at work. As far as I'm concerned, shareholders who don't care enough to give poor management the boot deserve to lose their equity. GM management has managed to turn out some of the least appealingautomobiles I have ever seen.
I don't fault the individual workers since they are just doing what makes financial sense for them, even if that may be getting paid to sleep or watch TV. I will fault the Union bosses to the extent that they extort excessive above-marketbenefits and wages by threatening to bring the company to a halt by striking.
GM still heading for bankruptcy
