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General Motors Is Headed For Bankruptcy -- Again [Flashback to 8-15-12 ]
http://www.forbes.com/sites/louiswoodhill/2012/08/15/general-motors-is-headed-for-bankruptcy-again/ ^
| 8/15/2012
| Louis Woodhill
Posted on 11/06/2012 7:41:23 AM PST by tobyhill
click here to read article
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1
posted on
11/06/2012 7:41:29 AM PST
by
tobyhill
To: tobyhill
an Executive Order giving the Chevy Volt a monopoly on the US passenger auto market should do the trick...
To: tobyhill
3
posted on
11/06/2012 7:45:07 AM PST
by
Cheerio
(Barry Hussein Soetoro-0bama=The Complete Destruction of American Capitalism)
To: tobyhill
How can this possibly be? President Ocarter just said the other day, “the US auto industry is back on top”!
4
posted on
11/06/2012 7:45:25 AM PST
by
mtrott
To: Buckeye McFrog
And an EO forbidding any rains or hurricanes...........
5
posted on
11/06/2012 7:47:09 AM PST
by
Red Badger
(Why yes, that was crude and uncalled for......That's why I said it..............)
To: mtrott
With Zero it’s not what he says. It’s what he does not say.
GM is back on top! (of the likely to go tits up list)
I am going to cut the deficit in half! (and add that half back on top)
see?
6
posted on
11/06/2012 7:49:43 AM PST
by
cableguymn
(The founding fathers would be shooting by now..)
To: All
Chevy has a horrible overpriced line up of cars, and took most of the dealer “mark-up” (invoice to window sticker) away from the dealers.
a $40,000 CAMARO has a 900 markup.
A 30,000 Equinox has an 800 markup.
A friend of mine owns (inherited) a Chevy store, and he showed me the numbers.
7
posted on
11/06/2012 8:01:21 AM PST
by
stephenjohnbanker
((God, family, country, mom, apple pie, the girl next door and a Ford F250 to pull my boat.))
To: mtrott
“....the US auto industry is back on top!”
Yeah, if Toyota is part of the US auto industry.
GM has become a major player in the Chinese auto industry, that is for sure.
Why doesn’t the US Treasury transfer the GM stock held by the Federal Government to the Chinese in exchange for part of the debt we now owe them? And UAW retirees get preferential relocation to China as part of their retirement package?
That way China could keep the payout on the retirement plans and their earnings from GM in their own country.
8
posted on
11/06/2012 8:05:28 AM PST
by
alloysteel
(Bronco Bama - the cowboy who whooped up and widened the stampede.)
To: tobyhill
Excellent article explaining the dynamics of car sales.
9
posted on
11/06/2012 8:06:20 AM PST
by
11th Commandment
(http://www.thirty-thousand.org/)
To: stephenjohnbanker
They couldn't compete in the first bankruptcy and they won't be able to compete heading into the second.
The mileage mandates will finish them off.
10
posted on
11/06/2012 8:08:59 AM PST
by
tobyhill
(Obamacare, the final nail in the US coffin.)
To: stephenjohnbanker
That is no margin to carry the note, pay the staff, turn on the lights etc. All the pricepoint is going to the UAW etc who have their profit margin per car way below Ford. Ford Europe is a drag right now, but profit / vehicle state-side has gone from 5.4 to over 10%. GM was at 3 or 4% at one point and I am not sure if they have improved that or not...
11
posted on
11/06/2012 8:09:22 AM PST
by
taildragger
(( Fubarward Obama 2012, think about it :-) ))
To: tobyhill
President Mitt loves a well-run bankruptcy. “Well-run” being the definitive term here. Get the gov and union off the company’s back.
12
posted on
11/06/2012 8:10:07 AM PST
by
gotribe
(He's a mack-daddy http://www.youtube.com/watch?v=AV415yit7Zg)
To: tobyhill
This only means the unions get another big, fat government check!
Cha-ching!
13
posted on
11/06/2012 8:10:17 AM PST
by
E. Pluribus Unum
(Government is the religion of the psychopath.)
To: tobyhill
14
posted on
11/06/2012 8:12:38 AM PST
by
dalebert
To: tobyhill
” They couldn’t compete in the first bankruptcy and they won’t be able to compete heading into the second.”
Correct.
15
posted on
11/06/2012 8:14:47 AM PST
by
stephenjohnbanker
((God, family, country, mom, apple pie, the girl next door and a Ford F250 to pull my boat.))
To: taildragger
” That is no margin to carry the note, pay the staff, turn on the lights etc.”
Without the service dept, and used cars, he would be bankrupt.
16
posted on
11/06/2012 8:16:06 AM PST
by
stephenjohnbanker
((God, family, country, mom, apple pie, the girl next door and a Ford F250 to pull my boat.))
To: tobyhill
The same managers that drove GM to bankruptcy before are, thanks to the taxpayer bailout, still there and are now aided by government bureaucrats and union goons. The Malibu was Chevy's great hope and it has now become a joke while billions were wasted on the Chevy Volt. Chevy and GMC still have a sizable presence in the pick-up and light truck market, but thanks to Obama's new CAFE standards pick-ups and light trucks are likely to be reduced to worthless mini-trucks that no one will buy. I expect that by 2018 we will see the patched together 20+ year old pick-ups still in service for businesses, farms and ranches because there are no longer any new trucks available to do the job.
Just imagine if GM had been allowed to go bankrupt and instead of being bailed out by the government had been bought out by Toyota or better still Hyundai. Under Hyundai leadership VW would not be number one in the D car class.
To: stephenjohnbanker
The only way GM is even doing what it is doing is Ally financial, GM’s captive finance arm (formerly GMAC) will pretty much finance anyone that will fog a mirror.
It is run exactly like the financing that caused the housing bubble. Over finance collateral and finance folks who have no/poor record of paying back their obligations.
This house of cards will soon fall. I’ve seen it many times over the past 21 years. Usually takes about 2 years. Maybe longer in this case since the Government is backing them.
18
posted on
11/06/2012 8:19:40 AM PST
by
saleman
(!!!!)
To: tobyhill
19
posted on
11/06/2012 8:21:35 AM PST
by
BunnySlippers
(I LOVE BULL MARKETS . . .)
To: tobyhill
Ultimately, it is management’s responsibility. The problem with what’s going on now with GM is that they won’t learn from their defeats. They’ll just ask for more taxpayer money. It’s much easier to get taxpayer money than it is to compete with Volkswagen and Toyota. The sad part is that GM could once again become the biggest car company with tremendous products. They have to fight with Volkswagen and Toyota and the environmentalists and the unions and the media and the Democrats. Too much fighting.
20
posted on
11/06/2012 8:21:46 AM PST
by
blueunicorn6
("A crack shot and a good dancer")
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