Posted on 08/23/2012 5:23:17 AM PDT by Kaslin
I have been the GM of a new car dealership since 1990. Fortunately, before the BK of GM, I bailed out to a Ford dealership. The auto business is ‘roaring back’ so well that in 2007 and 2008, I put my son through college with my life savings. My income is now up to approximately 60% of what it was in 1998, with no retirement, only a small 401K that has the potential to lose money every month. In my area, probably 20% of the dealerships are closed, and the ones that made it sell about 40% as many as in the 90’s. This is really roaring back! My plans are to work till I’m 75-80, then choose between starvation and suicide. Of course instead of being a capitalist, I could have become a govt worker out of college, and I’d be retired now with a lifetime pension, insurance, etc.
I thought they did that - except for Buick. And Buick sells well in China.
GM wanted Obomination, they got him. GM, along with "made in the cess-pool Detroit" Chrysler are now known as OBAMA Motors Inc.
I have seen left wingers taglines saying that
“Despite Obama Bail-Out”?How about”Because Of Obama Bail-Out”??Everything this IDIOT touches or meddles with turns into SH*T!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
“W” and Barbara had the Obamas over for the traditional reception at The White House(shortly before The Immaculation.Afterwards,”W”was heard to remark”He’s Clueless”.Tell us something we didn’t already know!!!!!!!!!
Has GM started producing Zyklon-B yet? Or is GE supposed to do that?
This brings up many questions and possibilities. Will the government step in a second time to prevent bankruptcy? Because, the last time all stock went to 0, this time the unions and government are holding most of the shares. Will the government step in and artificially raise the stock price? At least to the point where they could sell it with out losing too much. And will the government step in to help GM, by giving GM as many government fleet contract as possible? New military vehicles, FBI, etc cars and trucks. Getting into bed with GM is going to hurt tax payers no matter what the outcome, but maybe we can make some money in GM stock so it won't hurt so much.
What percent of GM is owned by countries other that the United States — China for one?
GM cancels their NFL advertising contract because the liberals like Obama that own it think football is “violent”.
GM then goes and spend $700 million of US TAXPAYER money on British soccer advertising instead.
My husband did.
My old man worked for Allison in 1940-41 and never thought much of GM. They were tyrannical and didn't care about safety issues. He told me years ago he'd never buy a GM car -- he considered one once (a 1966 Corvair) but ended up going with a Plymouth -- he had a family to haul.
He was as good as his word, he died with a Plymouth and a VW in the driveway.
He always said that GM's problem was, they weren't a car company -- they were just a bunch of bankers who owned a car business, and didn't care about the product.
I had a total of three GM company cars in the 1980's after he died, and boy howdy, was he ever right. They sucked big, big time.
How dare you pretend to make an important call like that! That's what Death Panels are for.
Makes me even more happy that Everton beat them the other day.
Who knows where the money really is. My husband's brother-in-law (in Michigan) who is a designer for GM was told he has no retirement. I think I have that straight. I don't know if they laid him off or if he retired and was told this.
Don't know who's at the helm in GM but shareholders need to get someone else. And why they got rid of Saturn is beyond me. I have a 2007 Aura and it has been one dependable car. Good quality too. They would have been better off getting rid of duplicates - pickups - Sliverado or Sierra? Or SUVs - Equinox or Acadia? Like that.
OH, I guess you are right, the all important government brain trust should make all decisions!
No it didn't! It went through something, but it certainly wasn't bankruptcy. The Obama regime out and out BROKE bankruptcy law to pay off the UAW and to punish non-union companies and workers, as well as auto dealers that weren't paying the proper tribute to the regime.
My guess is the next time, they'll break the laws again, since they were able to get away with it the first time, and screw the taxpayer for far more than a piddly 25 billion dollars.
Mark
Do you know how Ford is doing financially? It has to better. I just don’t know.
Saturns were built in a right to work state.
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