"We have basically shut down production in North America in January and that has affected our cash flow," he said. "We are not forecasting any heroic recovery for this industry or GM in 2009."
Things seem to be going along nicely,steady as she goes,no problems here.
The price of GM's stock has actually gone up a little since Tuesday. The President seemed very emphatic in his speech that the U.S. auto companies must survive and the U.S. Government will give them as much money as they need to stay in business. He sounded like he means it, even though I think he was mistaken and the automobile was actually invented in France, not the United States. Mass production of automobiles on assembly lines is the U.S. innovation that transformed the industry.
The price of GM's stock has actually gone up a little since Tuesday. The President seemed very emphatic in his speech that the U.S. auto companies must survive and the U.S. Government will give them as much money as they need to stay in business. He sounded like he means it, even though I think he was mistaken and the automobile was actually invented in France, not the United States. Mass production of automobiles on assembly lines is the U.S. innovation that transformed the industry.
So you think we should just keep throwing money at a company that was even losing money when the economy was booming?
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I love Christmas lights. They remind me of the people who voted for Obama. They all hang together; half of them don't work, and the ones that do, aren't that bright.
For those who understand, no explanation is needed. For those who do
not understand, no explanation is possible.
A golf course is a willful and deliberate misuse of a perfectly good rifle range.
Yes Jeep, we should keep throwing money at them and while we're at it, and another layer of managment on top. It should consist of 10 people with absolutely no experience in the auto business.8 shouldn't even drive their product but stick stricly with foreign autos. It's ok if the 9th one does but that 10th person isn't allowed to even own an auto. Just in case they think they have it easy, well put an aproval board together consisting of 535 members of congress, just to be sure we can make it as inefficeint as possible.
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John Adams “The moment the idea is admitted into society that property is not as sacred as the laws of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence.”
Ronald Reagan: 'Everybody that is for abortion has already been born'
"I never said I was worth it. I only said I wouldn't do it for less " William F. Buckley Jr.
The price of GM's stock has actually gone up a little since Tuesday. The President seemed very emphatic in his speech that the U.S. auto companies must survive and the U.S. Government will give them as much money as they need to stay in business. He sounded like he means it, even though I think he was mistaken and the automobile was actually invented in France, not the United States. Mass production of automobiles on assembly lines is the U.S. innovation that transformed the industry.
So you think we should just keep throwing money at a company that was even losing money when the economy was booming?
Actually I am very much against the GM and Chrysler bailouts. These companies are huge wealth destroyers and should have been and would have been liquidated back in December if Bush had not lost his nerve and made the stupid mistake of giving them TARP funds, which he originaly said he would not do, to survive long enough to make it to the Obama Administration. Obama made it clear in his speech that as a matter of national pride he will not allow these companies to fail so whether you or I like it or not, GM and Chrysler will get whatever funds they need to stay in business from the U.S. Government no matter how much it costs the tax payers.
Obama and the Democratic congress are going to give the Detroit 3 enough money to fund the pension and welfare funds that the UAW now controls. At the end of the day, it's payback to the Unions for getting Obama and the Democrats in power.
These companies will only survive if (1) they reorganize under chapter 11 and renegotiate contracts, which include UAW labor agreements, or (2) the government continues to float them billions of dollars. It is clear that the idiots in D.C. favor #2.
Even Donald Trump is still around, after yet another bankruptcy filing for his resort business. Chapter 11 works. Look at the Airlines.
GM alone has over $60 billion in debt, and is losing dozens of billions of dollars per year. You can't become solvent with that level of debt, combined with massive continued losses.
These are not loans to the Detroit 3; it is awaste of moneythat will NEVER be repaid.
I have worked for all of the big three over the years,that being said they are the most top heavy over managed money drain anyone has ever seen.
The good Ole boy net work prevents future investments to increase productivity.Every thing goes out to bid until profitability is achieved then that product is either pulled in and re bib only to be given to some one Else that must retool and start production over,after the new bider fails to make quantity or quality deliveries you can renegotiate pricing,resulting in costly delays and over payments for a product that essentially was being produced at a fair price. on time with great quality.
G.M. ?
