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Old 03-23-2005, 11:58 PM   #1 (permalink)
Max Power
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GM Headed for Chapter 11?

http://quote.bloomberg.com/apps/news...d=a8ENDuudqUMQ





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Old 03-24-2005, 06:44 AM   #2 (permalink)
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I dunno but if it does you will see the American economy in a serious tailspin then we are already.

In the US whether it's state and local budgets to big corporations the killer, pensions and health care.

No way can you keep up the cash flow that is necessary.CT lost 40,000 jobs last year.

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Old 03-24-2005, 08:14 AM   #3 (permalink)
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They made their bed! I really hate to see it, but this has been coming on for a while. The unions are not helping at all!
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Old 03-24-2005, 08:40 AM   #4 (permalink)
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And the hunt by Toyota is getting serious ! They are a force that are going to leave a mark on GM .
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Old 03-24-2005, 08:53 AM   #5 (permalink)
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Quote:
Originally Posted by BROKER
And the hunt by Toyota is getting serious ! They are a force that are going to leave a mark on GM .
I was having a hard time accepting the fact that Toyota just may pass GM. But I have come to the understanding that you don't have to be the biggest or sell the most to provide the best product. I read that GM is threatening to drop a brand. Possibly Pontiac or Buick. GM needs to take this time now to plan for the long road a head. I hope for a restructure that will provide attention on all of the products equally instead of ignoring one for 10 years, then drop a bunch of money on the product, bring it to the market with just below exciting looks, and over pricing the product and make it look like a deal with rebates. At least we are going to see the GMT 900 sooner than planned....
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Old 03-24-2005, 09:52 AM   #6 (permalink)
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Old 03-24-2005, 10:51 AM   #7 (permalink)
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Ive never understood something.

Why would a company continue to pay a worker (pension) when they are not working anymore?

Example.....

I hire someone. They work for me for x years and retire/quit. Now I have to keep paying them until they die? HUH?

WTF?

Bottom line is this is a mean/lean businees world today. What company can afford to have that HUGE ball and chain?

Seems not GM..........
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Old 03-24-2005, 11:03 AM   #8 (permalink)
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The problem is all the union benefits. These guys think there entitled to a job. All their moaning and groaning and strikes. They want to make 75k a year to work on a factory line, plus full benefits and retirement. ITS NOT POSSIBLE. YOUR A FACTORY WORKER. You should be able to support your family but these benefits are not in line at all with the jobs people do. No one is entitled to anything. Companies like toyota pay less and have less benefits, but do pay the accurate amount of money for the work being done. All the union guys can get upset when we talk like this, but they will dig there own grave. Unions all get upset at the "right to work" laws that support non-union workers. These workers do not believe that you have a right to a job, just the right for an opportunity. Just my 2 cents, you now what they say about opinions!
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Old 03-24-2005, 11:06 AM   #9 (permalink)
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It will be interesting to see what reaction the Unions have to this type of news and/or if GM really files a bankruptcy petition. The Unions have created alot of this with the demands for money, health care, pensions, benefits, etc., etc., and the Unions are sitting on billions of dollars in their bank accounts from dues from the members. Legacy costs and health care left over from the 70's, 80's and 90's are going to choke the life out this generation. I think it's going to get a lot worse before it gets better.
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Old 03-24-2005, 12:17 PM   #10 (permalink)
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The big three continue to be arrogant and stupid.

Living for the moment.

Gas prices will force everyone into more efficient vehicles.

Not only do the competitors have the product, they are well ahead in quality.

We won't be able to afford to drive anything under 20mpg so what are they going to do with all that product?

They rug will get pulled out simply by the rise of fuel prices.

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