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Old 07-10-2009, 11:52 AM   #1 (permalink)
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New GM Emerges from Bankruptcy


Today the sun rose on a New General Motors, a move which will also see the sun set on a lot of people's careers. GM emerged from bankruptcy protection at 6:30 a.m. Eastern Time with news of a serious corporate restructuring plan that will take effect over the next few months.

Due to leadership (and in some cases arm-twisting) by the Obama Administration, the new GM, headed by CEO Fritz Henderson, is poised to return to its once-great status after shedding its debt and healthcare obligations by a massive $48 billion. Much of this comes as the UAW made serious concessions in accepting a new contract with the automaker. GM also hopes to significantly reduce its cash-burn after eliminating a third of it's dealership network. Additionally, the automaker looks to profit from the sale of the Saturn, Saab and Hummer brands, as well as through selling-off much of its stake in its European operations, including Opel to Canadian autoparts manufacturer Magna International.

"Today marks a new beginning for General Motors, one that will allow every employee, including me, to get back to the business of designing, building and selling great cars and trucks and serving the needs of our customers," CEO Fritz Henderson said in a statement.

Henderson's plan will see 6,000 (or 20 percent of) white-collar employees loose their jobs by October, with 35 percent of all executives being dismissed. Many executives will be cut from the company's old Automotive Strategy Board and Automotive Product Board, a complex, multi-tiered system of management which will be axed in favor of a small committee that will meet weekly to make decisions about the future of the company.

Henderson says the move will cut those making the decisions at GM in half as the automaker focuses on its four key brands - Chevrolet, Buick, GMC and Cadillac.

Sales and Marketing will also no longer be under the leadership of one individual, as that part of the company is split. Sales will report directly to Henderson, who was unclear about what that meant for the current Sales & Marketing boss, Mark LaNeve. GM will also bring back veteran Bob Lutz to manage marketing, as well as design, brands and communications.

This will be a particularly vital role as GM looks to introduce a new line of vehicles into the marketplace to help re-brand the company. In total 10 new vehicles will launch in the U.S. in the next 18 months, with 17 overseas.

More: New GM Emerges from Bankruptcy on AutoGuide.com

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Old 07-10-2009, 12:17 PM   #2 (permalink)
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IMHO, As long as B HO is at the helm dictating products to be made, the UAW is alive and kicking and and other manufactures can avoid UAW states, GM doesn't have a chance...... to be anything other than the amtrak of the twentyfirst century.

Just heard on the radio last night that GM is now thinking of making the background of the GM emblem green instead of the old blue....... as a symbol of the more fuel efficient cars they will be producing. How about trying to produce vehicles that people actually want

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Old 07-10-2009, 12:42 PM   #3 (permalink)
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This quote from the CNNmoney article about this. (a comment from a reader obviously)

"More of the same testorone BS. They just don't get. They will NEVER get it as long as the comany's "brains" are in Michigan. That state is 30 years behind the times. Hey guys, put away you beer and guns for a week and travel around a little bit....you may get some new ideas."

If we could only mobilize the conservative people onto the web like the liberals have....
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Old 07-10-2009, 12:53 PM   #4 (permalink)
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They will just fail again but it won't take another 100 years to do it.. BHO will do it way sooner.
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Old 07-10-2009, 01:51 PM   #5 (permalink)
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Looks the same to me.
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Old 07-10-2009, 02:04 PM   #6 (permalink)
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The $1800 dollars I just spent on injectors soured the Relationship you can't sell cars if you screw your customers over especially on something that is known to be a poor design and you wont even stand behind your warranty.

My next vehicle will not be a GM
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Old 07-10-2009, 02:11 PM   #7 (permalink)
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Quote:
Originally Posted by KEVINL View Post
The $1800 dollars I just spent on injectors soured the Relationship you can't sell cars if you screw your customers over especially on something that is known to be a poor design and you wont even stand behind your warranty.

My next vehicle will not be a GM
1800 seems cheap, you must have installed them yourself or it wasn't a full set.
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Old 07-10-2009, 02:14 PM   #8 (permalink)
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I did them myself cant afford the stealers prices
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Old 07-10-2009, 05:33 PM   #9 (permalink)
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Ill buy GM cars hopefully my whole life. So will my family.
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Old 07-10-2009, 05:35 PM   #10 (permalink)
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I am gonna keep it GM as well, unless Ford gives me some great reason to buy their product.

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