Comments on: General Motors Hurtles Toward Bankruptcy

By: rcov092

rcov092 — Mon, 30 Mar 2009 21:46:20 +0000

we will combine Government Motors with Amtrack and call it…yes…

GAMTRACK

They can build cars with steel wheels that will have the abiltiy to ride the rails. Thia will be good, no one rides Amtrack so we will increase capacity utilization thereby increasing the losses from Amtracks average of $2 billion dollars a year up to say $30-40 billion a year for the combined:

GAMTRACK

Now that is government efficiency.

By: paulincolo

paulincolo — Mon, 30 Mar 2009 20:38:00 +0000

Now that it is effectively nationalized, it cannot fail (so to speak) because well… the government has to protect the interests of the taxpayers (insane laughter ensues). The other unfortunate part is the
few principled Repubs might try to point to the massive waste, but they aren’t in power, don’t have a compliant media (or any media savvy) and can only make minimum inroads into the fed legislature in the coming 6 years (maybe longer once the census bureau overcounts the blue states).

By: Achance

Achance — Mon, 30 Mar 2009 20:17:01 +0000

That’s how GM is going to be run.

By: izoneguy

izoneguy — Mon, 30 Mar 2009 20:14:31 +0000

and they don’t care. Look at the Post Office. So now government motors will only buy vehicles through it’s own company. I guess they will try and kill defense contracts and steer those military vehicles purchases through their own company. But a car company is not as you unique as the post office. This will give republicans more fuel to show the bloat, waste & mis-management of the democomms. I say let it fail and let other car companies pick the meat of the bones. Screw the UAW.

By: paulincolo

paulincolo — Mon, 30 Mar 2009 20:07:52 +0000

Sure the title might be in govt (your) name, but UAW will control it from top to bottom. It matters not if they make a good car or not, because the taxpayers (you) will be on the hook for all the losses, even with a govt shoo-in for car purchases (you again). Over time, the continued govt (you) funding will just stop making the news. Think I am wrong?

Freddie and Fannie have been bailed out to the tune of $200B (you), paying exec bonuses (no outrage like AIG), and asking for a $100B more, (play it again Uncle Sam (you)).

You are the viable plan that they will settle on.

By: ddstrain

ddstrain — Mon, 30 Mar 2009 19:33:53 +0000

By: Mark Greiner

Mark Greiner — Mon, 30 Mar 2009 19:28:11 +0000

thanks to the U.S. taxpayer

By: Mark Greiner

Mark Greiner — Mon, 30 Mar 2009 19:15:30 +0000

As a salesman for Toyota we almost never get an argument about the big 3’s less than steller record for dependability over the past 10 years compared to us or Honda People are concerened over the fact they are going to be making a large purchase on cheap car. They feel the car is being cheapend in order for them to pay all of their bills.
Also the residules on the Chevys have been takeing a nose dive.
But much of the reason I feel we are scooping up more of the market of the buyers who are out there isn’t just the fact that we may build a better car. But it is the “Chevy” or “Dodge” man mad at the fact they are asking for a bail out and the Toyotas and the Hondas are not (contrary to reports that Toyota and Honda asked for them the the “Automotive News” magazine published in the March 9,2009 weekly edition on page 46 that the Japanese goverment has been known to urge sound companies to take public money so shaky ones don’t look so bad).
Almost every one of them to a person blame the U.A.W.

By: ss396

ss396 — Mon, 30 Mar 2009 19:08:13 +0000

Why is Ron Gettelfinger still President of the UAW? Why didn’t the administration push the union for his dismissal the way that they pushed GM for Waggoner’s?

(Oops. That was a stupid question. Silly me.)

By: 6eorge Jetson

6eorge Jetson — Mon, 30 Mar 2009 19:07:00 +0000

the problem is that they wear out too soon in the old Soviet motherland.

By: civil_truth

civil_truth — Mon, 30 Mar 2009 18:58:22 +0000

With nationalization, we at least know that the government is running the company and thus is accountable to voters as to performance.

Here we have a puppet show, where the government pays the money, appoints the people, creates the performance standards, and scripts the dialog for the company as well as itself.

It’s an absolute win-win for Washington politicians and the socialist administration/Congress.

If GM turns around, then Obama and the Democrats will reap all the applause for saving the company. And the definition of success can be quite broad - or perhaps just plain deception where we get a “restructuring” that they bask in the sunlight, and then behind the scenes GM gets dismantled, sold off, etc.

Conversely, if all their efforts still cannot head off disaster, then they can say that they tried as hard as they could but the company was too far gone - and get the applause for “trying”.

Or even get to make this an argument for a “do-over” overt government nationalization. Or an argument for taking over other companies as “preventive maintenance”.

And a complicit media will let them get away with the scripting. This is the kind of reporting and public Potemkin spectacle that ushers in dictatorships.

By: The_Gadfly

The_Gadfly — Mon, 30 Mar 2009 18:50:03 +0000

People can read 10 pt standard.

By: The_Gadfly

The_Gadfly — Mon, 30 Mar 2009 18:17:52 +0000

I wouldn’t put it past him to say it was racist.

By: Lammo

Lammo — Mon, 30 Mar 2009 18:16:27 +0000

at least they could look themselves in the mirror.

By: drealoth

drealoth — Mon, 30 Mar 2009 18:15:11 +0000

I think that Ford is only a breath away from the same fate as The General. Ford’s strategy was to just outrun General Motors (something about not having to outrun a bear), which was working until the government donated some of their spare money printing machines to Rabid Rick. I wouldn’t go so far as to say that they’re doomed, but they will certainly have to be careful.

In General Motor’s case though, it’s not the union that’s be all and end all to their problems. GM’s engineers still cannot match the Japanese in quality, GM’s management has left the company with a line of boring cars that nobody really wants to drive. That the guy who turns the bolts to attach a door to the car gets paid too much and works too slowly is really a small problem in the grand scheme of things. On top of that, their legacy health care costs are something that they really can’t do anything about (nor should they. When you make a promise to someone, you should do your best to keep it). No, the General’s problem is that they got too big and too arrogant.

By: Francis Cianfrocca

Francis Cianfrocca — Mon, 30 Mar 2009 18:01:58 +0000

Remember, they represent the common stock, which is worthless in a nationalization. The board members will all be replaced by Obamunists over the next few months.

By: Lammo

Lammo — Mon, 30 Mar 2009 17:51:28 +0000

they would refuse to accept Wagoner’s resignation. Since it appears they don’t, they might as well all resign as well.

By: Taniwha

Taniwha — Mon, 30 Mar 2009 17:34:21 +0000

That’s what I’m talking about. It shouldn’t TAKE a “really smart man”. Even movie stars used to be able to manage it a few decades ago. It’s not rocket science, just a simple matter of knowing what side of your bread is buttered. But none of them do anymore.

Trouble is, these days they don’t think they’re just movie stars. They think they’re (oh, brother… ) “thought leaders”.

Oh, they may be… in Hollywood. But the rest of us think they’re turkeys. No wonder even Hollywood is in trouble.

By: Lammo

Lammo — Mon, 30 Mar 2009 17:30:02 +0000

Tried to post a picture. Darned computer wouldn’t let me. When we were in Moscow and Tyumen, Siberia, in 2003 our dirviers had a Volkswagen van and a Mitsubishi sedan, respectively. In Moscow I saw far more Mercedes, BMWs, Audis, Opels and even Fords than Ladas or Moskviches (except for the marked police cars which were mostly Ladas).

By: Taniwha

Taniwha — Mon, 30 Mar 2009 17:16:49 +0000

Whenever upstate NY weather permits… maybe I should move to Arizona.

Do they have people out there?