Posted on 06/01/2009 8:14:39 AM PDT by John W
DETROIT – General Motors Corp. said Monday it will permanently close nine more plants and idle three others to trim production and labor costs under bankruptcy protection.
Six of the plants are in GM's home state of Michigan, which has already been hard-hit by job cuts in the auto industry.
(Excerpt) Read more at news.yahoo.com ...
A good friend just sold all of his GM stock for $0.50 per share losing about $23,000. I’ll never buy another GM vehicle.
Should be fun listening to Lord Zero explaining about these “saved” jobs.
i’ll never buy an american car again.
take your unions and obama and cram it.
Looks like last years' bailout only save the 'jobs' of the politicians that feared a 'vote out the bums' movement.
For some, no matter what he says, they will love him and take whatever he says as gospel truth.
After all he's the first half white POTUS.
My father, father-in-law and both grandfathers are/were GM and Chrysler retirees.
The US car companies ceased their true purpose — building good cars — a long time ago. Now they’re just a cash cow for the unions and democrats.
I need to replace my 2001 Grand Caravan soon. It won’t be a Government Motors or Chrysler. EVER.
My next truck will be a Tundra..
Which is why God invented rolling stop loss orders.
The most ludicrous part of it all is that Obama, Axelrod, Gettlefinger et al are probably slapping each other on the back thinking they’ve put one over on everyone and that TOTUS will somehow be able to spin the fact that this is the most obvious and egregious quid pro quo in the long history of Dem/union corruption.
The UAW has already bled dry two of America’s largest companies. Now these WANT HEALTH CARE FOR LIFE zombies are set to devour the public treasury and they have a bought-and-paid-for president handing them the keys to the vault.
Fixed.
POTUS
Piece Of Turd Under Shoe.
I but I swear I will NEVER buy a Government Motors vehicle!
You don't want a vehicle that is painted mandatory government green, runs on solar, electric, food, carries 1 passenger, and has to be pushed uphill?
“The UAW has already bled dry two of America’s largest companies. Now these WANT HEALTH CARE FOR LIFE zombies are set to devour the public treasury and they have a bought-and-paid-for president handing them the keys to the vault.”
And yet the stock market is up 200 points.
Absolutely. I sold all of my insurance stocks 1Q 2008 that way and didn’t take too much of a bath.
In my state maybe a three or four automotive plants have closed down during Obama's term. The employees there seem to be unswervingly loyal to Obombah no matter what. They blame it first on the "greed" of the company managers, and, second, on Bush. They're going to go to their economic graves singing the praises of The One.
I don’t know if you’re defending the GM outcome but this is Yahoo finance’s take on it:
“Investors looked past General Motors Corp.’s bankruptcy filing and instead took cues from overseas markets, which surged on Asian and European surveys showing improvements in manufacturing.”
“For some, no matter what he says, they will love him and take whatever he says as gospel truth.”
And they will blame the chimpyBushhitler as they did while MI was continually losing ground during the 20 consecutive quarters of GDP growth during President GW Bush’s term.
Two things. First, it's the UAW, the Steelworkers, and the other big unions who drove the Rust Belt into the ground with their greed and corruption. This is basically their doing.
Second, THESE workers will predictably get full lifetime benefits and retire in comfort. Meantime, Obama is driving millions of other workers out of their jobs and houses, and they can just lump it, because they aren't on his to-do list.
I am lost for words. Where are the billions of dollars going if they are closing all the plants and eliminating all the jobs? If they are reducing their overhead by that amount, why does it take billions of taxpayer dollars to keep operating? Something does not make sense, well actually a lot doesn’t make sense, but this stinks to high heaven.
Maybe the unions will offer to cut wages by 50% to keep their people employed!
It’s all about the workers, you know.
And with Obama in charge they know they can trust them to be telling the truth about needing to cut costs - this isn’t the prior EVIL managment...
How about it Unions? Do you really need people makeing $80 grand to put part A into tab B or sweep floors...??
Yep, and because Obomba says so.
So.....Hopey changey and all that crap.
There is an awful lot of social programs to be paid for.
Don't argue, it's government money now. /s
And they have no semblence of logic. I’ve had many, sometimes daily, conversations with these types of folks. Their idiocy is limitless.
Just wait until fee's are in place and astronomical to boot for not buying a "government" vehicle.
Yep, somebody is going to have to make up for all of the lost tax revenue from the "Mother of All Incentives."
It's all feel good promotion, nothing else matters.
Yep, and for most of them the thing that makes them feel the best is when someone else “screws the rich.” To them class warfare equals crack cocain.
I can peg them before they even speak anymore. ; )
“I’m surprised Fort Wayne beat out Pontiac.”
Not really...
The Fort Wayne plant is newer, had major upgrades a few years ago, is easier to get to and from, has a younger workforce, and has plenty of room for future growth.
Also, the F.W. plant isn’t subject to the repressive tax situation in Democrat-run and destroyed Michigan.
May I use that as a tagline?
It is one of the best lines I’ve read on FR in some time!
You might want to check out all the recalls on the Tundra first.
I’m taking bets.
Will the new GOVERNMENT MOTORS die a quick painless death or will they die a slow lingering painful death for years?
According to reports, the latest UAW concessions will save Government Motors about 1.5B a year. All things considered, that seems like a drop in the bucket.
Jobs were saved. Car Czar and advisers and hanger-oners at the White House. It’s all in the SPIN!
I’m done with GM. As soon as I save up enough, my car gets traded in for something with a clean diesel engine that will last a long time. No need to keep buying vehicles that have the same problems earlier models did.
My 1998 Oldsmobile Bravada had a host of problems (wheel bearings replaced two times, windshield wiper failure three times, driver window failure, oil cooler lines, etc).
My parent’s 2003 Chevrolet Blazer had a wheel collapse on the highway due to the wheel bearings. My dealer and their dealer both quoted an “inherent problem” with that body style. They couldn’t get it right in five years?
Now, my 2005 Pontiac Grand Prix is on its 5th blower motor, a new set of wheel bearings at 50,000 miles, two windshield wiper failures, a driver window failure, and a separate passenger window failure.
The dealer is at a loss as to the multiple blower motor failures. He chalked it up to the Vietnamese parts. I guess I’ve been driving a foreign car all the time I’ve been striving to “Buy American.”
While the proletariat are suffering the head of the political class spent at least $24,000 of the peoples money on a night on the town.
Bet Dennis Kucinich will have a field day behind the microphone with this one. I believe that Parma plant is in his district.
He never does anything to actually save jobs, but he loves to demagogue the “Fat Cats”. And his constituents eat it up...
I bet OH and MI voters are thrilled with the ‘Change’ and ‘Hope’ they are getting...
The central planners spent billions to delay bankruptcy a few months.
Billions gone and bankruptcy still.
Believe it or not, it costs big money to go bankrupt. Also, your tax dollars are saving union jobs. /s
What will the girls at the DU do? They would normally buy Volvos and other alternate lifestyle cars but now O’ owns GM. Do you think they will support him and start buying GM? What to do, what to do?
NO! And you certainly don't need workers getting paid to sit around doing nothing.
NO! And you certainly don't need workers getting paid to sit around doing nothing.
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